Happy Friday, readers! This weekend’s mailing compiles our coverage of recent important developments in retirement plan regulation, legislation and litigation. As you will read about below, the SECURE Act appears to be stuck fast in the Senate, while the Supreme Court has handed down multiple decisions with important implications for the retirement plan audience. The DOL and SEC have also remained active in recent weeks. Get all caught up with this edition of PLANADVISERweekend.
The Supreme Court will weigh in on the question of whether an adequately funded pension that is not in immediate danger of insolvency could have wronged participants and breached ERISA in the selection of poorly performing investments offered by an affiliate company.
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Expert ERISA attorneys have been eagerly awaiting the Supreme Court’s decision in a case called Kisor v. Wilkie. The complicated ruling issued Wednesday is the most significant of the term for the retirement plan audience.
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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.
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.