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
SECURE Act Ensnared in Senate After Flying Through House
Washington insiders say Senator Ted Cruz is probably the biggest roadblock to the SECURE Act being passed in the near-term under unanimous consent; among other issues, he wants the bill to allow people to use tax-advantaged 529 college savings accounts to pay for home school expenses.
Newly Allowed 401(k)s Will Need Advisers
Advisers may shy away from helping hemp and CBD companies with their 401(k)s because they may find themselves crossing into advising for a cannabis company as well, but there are protections—and money to be made.
Dow, DuPont and Corteva Sued for Allegedly Ducking Pension Obligations

According to plaintiffs in a new ERISA lawsuit, the pension plan in question was underfunded by nearly $6 billion dollars when its assets and liabilities were transferred to a spinoff company.

Wells Fargo and Principal Can Learn From John Hancock-New York Life Deal

The recently finalized acquisition of Wells Fargo’s Retirement and Trust business by Principal Financial Group calls to mind an earlier deal, inked by John Hancock and New York Life.

Retirement Industry People Moves

Insight Investment names portfolio strategist; Ascensus adds RVP to cover northern Texas region; QMA announces chief business officer; and more.

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

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

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