PLANADVISER Weekend Newsdash
Week ending May 26th, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! Following months of uncertainty it now appears inevitable that the Department of Labor fiduciary rule reforms championed by President Obama will indeed be allowed to take effect. Below you will find our latest coverage and helpful context about the regulations and the compliance transition period that is about to commence. While the ultimate future of the rulemaking remains unknown, it cannot be denied that the regulations have already driven tremendous change in the retirement planning industry.  
Editor's choice
PSNC 2017 Preview: Washington Update
This year the panel features Bradford Campbell, partner, Drinker Biddle and Reath LLP, and former Assistant Secretary of Labor overseeing the DOL’s Employee Benefits Security Administration under President G.W. Bush; as well as Michael Kreps, principal, Groom Law Group, and former Senior Pensions and Employment Counsel for the U.S. Senate Committee on Health, Education, Labor, and Pensions from the 110th through the 114th Congresses.  Read more >
How Workable Is the BICE?
Assuming the Department of Labor does not replace the current version of the BIC exemption, the requirements are so burdensome that using it for this fee structure would be impractical, according to one trusted pair of ERISA attorneys.  Read more >
Fiduciary Crunch Time
Retirement industry providers are preparing responses to the fiduciary rule. Those who were depending on the new President and Congress to halt the rulemaking have been caught flat footed.  Read more >
Fiduciary Rule Debate Impacts State-Run Plans for Private Sector
A new bill introduced by Senate minority Democrats, seeking to protect ERISA exemptions for state- and city-run retirement plans for the private sector, would likely be made redundant with the removal of the Obama-era fiduciary rules. Read more >
MOST POPULAR STORIES
The 2022 Retirement Landscape Takes Shape

The U.S. faces a $4 trillion retirement savings gap heading in the new year, but both public and private solutions are coming online to help more people prepare adequately for life after work.

Employees Favor Retirement Plans That Substitute Annuities for Bonds

A survey also found nearly half of employees prefer to have a mix of investments and lifetime income over either traditional pensions or investments alone.

NFP’s Wealthspire Acquires Private Ocean

Wealthspire’s leadership calls the acquisition “a significant opportunity to plant a flag on the West Coast and demonstrate our growing national scope.”

Plaintiffs File ERISA Excessive Fee Lawsuit Against VCA

The lawsuit claims the veterinary hospital network’s retirement plan, which has more than $500 million in assets, should have paid lower fees for recordkeeping and administrative services.

Retirement Industry People Moves

Portfolio Evaluations adds senior fiduciary consultant; Voya Investment Management to acquire Tygh Capital Management; and Alan Biller and Associates makes key promotions.

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