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

Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

HUB Names New Leader for Retirement and Private Wealth

PLANADVISER has learned that HUB International has named Joe DeNoyior as the new leader for Retirement and Private Wealth.

Democrats Have Won the Power to Fix Union Pensions

A bipartisan compromise solution to end the multiemployer pension crisis is urgently required, sources agree, and one could finally be forthcoming in the U.S. Congress.

Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals

Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.

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