PLANSPONSOR Weekend Newsdash
Week ending March 24th, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! This weekend’s mailing highlights the latest feature articles and columns from PLANADVISER print. Complementing our daily online news coverage, our bimonthly print edition takes a deeper dive into the topics and trends that matter most for retirement specialist advisers. It also features thought-provoking research and information about the latest products and services hitting the market. If you don't get the magazine already, subscribe at www.planadviser.com/subscriptions/. 
Editor's choice
Recent 403(b) Litigation
Recent months have seen a wave of new litigation, against several large 403(b) plans maintained by prominent private universities. The lawsuits, which claim breaches of fiduciary duties under ERISA, are in some respects similar to 401(k) fee litigation cases. However, other aspects of these suits are relatively novel, as they appear to not only challenge the fundamental nature of 403(b) plans. Read more >
DOL's Final Rule on Disability Benefits
Although rarely a high-profile item, there is no question that long-term disability cases are the most frequently litigated Employee Retirement Income Security Act claims. While excessive fee litigation against 401(k) plans and stock-drop cases garner headlines, a study of ERISA cases filed between 2006 and 2010 concluded that those involving long-term disability benefits accounted for 64.5% of benefits litigation. Read more >
Aggregating a Client's Assets
I work for a broker/dealer (B/D) firm that is affiliated with a registered investment adviser. The firm provides brokerage services to both non-retirement and retirement investor accounts such as IRAs and ERISA accounts. The fee is asset-based, and breakpoints are used to determine the fee (with an incrementally reduced fee charged as asset value exceeds certain prescribed amounts). Can all accounts be aggregated so the investor will get the benefit of a reduced fee? Read more >
Leveraging Provider Resources
Retirement plan advisers who strive to develop proprietary tools may very well be overlooking a wealth of resources available from their many providers. Wells Fargo National Sales Manager for Defined Contribution Ron Cohen, based in Boston, has an important warning for advisers seeking to do just that. Read more >
Passing the Torch
While retirement plan advisers are gifted at planning for participants’ futures, they do a notoriously poor job of planning for their own—a situation that Jeremy Holly, senior vice president at LPL Financial in San Diego, finds supremely ironic. Many wait until they are close to retirement age before thinking about a succession plan for their practice, he says. Read more >
MOST POPULAR STORIES
Tax Bill Passed By Senate Backs Off 457(b), 403(b) Plan Changes

It appears some last-minute amendments have largely removed controversial provisions from the Senate’s version of tax reform legislation that would have had a big impact on governmental 457 and nonprofit 403(b) plan sponsors.

Pass-Through Tax Reform Impact on Small Businesses May Be Mitigated via Roth

The American Retirement Association says that tax reform could be a disincentive for small businesses to offer retirement plans; however, as one reader shares, there are counter considerations having to do with Roth 401(k) options that could mitigate some of the concern.

Settlement Ends Fujitsu Lawsuit Filed Over Plan Fees, Custom TDFs

In their lawsuit, the plaintiffs called the Fujitsu plan one of the most expensive in the country and specifically called out the design and implementation of the plan’s custom target-date funds.

Lawsuit Filed in Colorado District Court Shows Great-West Targeted by Fraud

The richly detailed text of the complaint shows multiple individuals are accused of defrauding Great-West and depositing ill-gotten assets in a variety of U.S. banks, resulting in fraud and money laundering charges. 

DOL Rule Provides Tailwind for Adoption of Outsourced Fiduciary Services

For the $5 million to $500 million DC plan market, advisers and consultants offering 3(38) discretionary investment advice are more common.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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