PLANADVISER Weekend Newsdash
Week ending May 13th, 2016
NOTE FROM THE EDITOR
Happy Friday, PLANADVISER readers! There has been no shortage of predictions published regarding the likely impact of the DOL’s final fiduciary rule—with positive and negative opinions coming down from all sides of the issue. Many still expect small-balance savers to be harmed by a stricter fiduciary standard, while others see a healthy dose of industry disruption leading to better service for all. Below you’ll find the opinions of top ERISA attorneys and industry execs on various sources of regulatory disruption. 
Editor's choice
Final Fiduciary Rule Still Favors Level-Fee Work
Experienced ERISA attorneys and business development executives at Ascensus tell PLANADVISER the DOL’s final fiduciary rule still inherently favors flat-fee service arrangements for qualified plan clients and “an open architecture future for accessing retirement plan investments.” Read more >
Expanding Coverage
The campaign to expand access to retirement savings in the workplace at the federal government level “continues to get little more than lip service” from political leaders, argues Marcia Wagner, an ERISA attorney working on a variety of employee benefits and executive compensation issues. And so, more than half of the states are taking some action to fill the coverage gap. Read more >
Fiduciary Breaches by Others
Fred Reish and Joan Neri are two nationally recognized ERISA attorneys with Dirnker, Biddle & Reath. Writing in the latest PLANADVISER print edition, the pair warn that “even if you think you are not a fiduciary under the new DOL rulemaking, there still is new risk and liability.” Read more >
Clarifying the Scope and Value of Fiduciary Services
Before becoming founder and CEO of Unified Trust Co. in Lexington, Kentucky, Gregory Kasten was an M.D. in anesthesiology. When looking for retirement advice, Kasten “found a lot of smart people and advisers to talk to, and some of them had some powerful ideas, but most were ultimately trying to sell me a specific product or bring me back to a particular fund family.” Read more >
Fiduciary Rule Shows Washington Compromise Can Still Happen
Count Russell Investments directors Jean-David Larson and Sam Ushio among the financial services industry professionals who were grateful to see the Department of Labor (DOL) dial back some elements of its new fiduciary standard. Read more >
MOST POPULAR STORIES
Many Retirees Wish They Had Delayed Taking Social Security Benefits

MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a month for life.

Another Bill Proposed as Senate Committee Hearing Brings Calls for Retirement Action

Besides a lengthy Finance Committee hearing discussing the popular RESA legislation, the day on Capitol Hill also brought news of the introduction of the new Retirement Security and Savings Act.

Institutional Plans See Strong Q1 2019 Returns

U.S. equities were the driver of rebounds from the 4th quarter of 2018, according to the Northern Trust Universe and the Wilshire Trust Universe Comparison Service.

RESA, RSSA, SECURE Act and More Pile Up in Congress

Sources say the SECURE Act could pass the House this month, potentially setting the stage for a reconciliation process that could bring together common elements of multiple pending bills.

Excessive Fee Suit Filed Against Greystar Management

The lawsuit accuses the sponsor of a small 401(k) plan with failing to monitor and correct excessive fees.

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

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

Subscribe to Adviserdash, click here.
To unsubscribe, click here.
BrightScope / CIO / FWW / Global Custodian / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund / The Trade