PLANADVISER Weekend Newsdash
Week ending May 25th, 2018

Happy Friday, readers! One of the most common themes that comes up in retirement planning research is the fear that Americans have about meeting their health care expenses once they have exited the work force. We have all heard the estimates from Fidelity that the typical couple retiring today will need nearly $300,000 to cover just their future health care expenses alone. These figures are clearly daunting, but other research shows that, through smart long-term savings strategies and with the support of an informed adviser, Americans can meet these health care costs without sacrificing their quality of life.

Health Care and Other Benefits
Adviser Opportunities Abound in HSA Market
Devenir finds HSA assets grew to an estimated $45.2 billion, spread across some 22 million accounts, at the end of 2017; as more account owners are investing their HSA dollars, the demand for advice is clear.  Read more >
Equity Compensation Plan Participants Want Advice
Among those who have never exercised or sold their equity compensation or ESPP, 34% admit to being worried about selling under the wrong market conditions and 34% say they are afraid of potential tax implications of making a wrong decision. Read more >
Employers Likely to Ramp Up Student Loan Repayment Benefits
While not a traditional topic for retirement specialist advisers to speak about, experts agree that student loan repayment benefits are a powerful boon to financial wellness programming—and a topic that financial advisers should learn more about.  Read more >
A Couple Retiring This Year Will Need $280K for Health Care
A 65-year-old couple retiring this year will need $280,000 to cover health care and medical expenses throughout their retirement, according to Fidelity Investments. This is a 2% increase from 2017—and a 75% increase from Fidelity’s first estimate in 2002. Read more >
Americans’ Lack of Social Security Knowledge Shows
Tina Ambrozy, president of sales and distribution at Nationwide, warns of a major disconnect between what consumers think their Social Security benefit will be—and what this amount will cover—compared to reality. Read more >
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TOP 100 Retirement Plan Advisers
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What Is a DOL Adviser Investigation Like?
The number of Department of Labor investigations of financial advisers has steadily increased over the years; here is a primer on the DOL’s sources of authority, and what to expect when examiners come knocking.
Managed Account QDIA Mechanics Challenge Plan Sponsor Clients
ERISA attorneys and plan design consultants say they are hearing more questions from sponsors about using managed accounts as a plan’s default investment, but the most common use case remains opt-in managed accounts.
Assessing Likely Impacts of IRS Hardship Withdrawal Rule Changes
New rules established by Congress and the IRS simplify the process for participants to request a hardship withdrawal of DC plan assets; some experts say this could increase “leakage,” while others anticipate more positive effects, such as lower debt among cash-strapped participants.
Court Returns Mixed Ruling in Schwab ERISA Self-Dealing Suit

The detailed ruling comes after Schwab defendants moved to dismiss in part the plaintiff’s second amended complaint. 

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

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

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