July 13th, 2017

UBS Challenges Client Recruiting By Former Advisers A lawsuit filed by UBS against a number of former brokers—accused of too aggressively soliciting old clients immediately after going independent—shows plan participants aren’t the only source of potential litigation. Read more > ERISA Lawsuit Filed Against MFS The complaint alleges fiduciary breaches of ERISA with regards to MFS offering its proprietary funds in its 401(k) plans. Read more > Businessman Ordered to Pay Back ERISA Plan Involved in Ponzi Scheme The ERISA plan invested roughly $1.9 million of plan assets from July 2010 through December 2011 in the investment company, Midwest Green Resources. Read more > HSA Owners Missing Out on Long-Term Health Care Savings Owners of health savings accounts are primarily using them for immediate needs, such as deductibles, coinsurance and copayments, according to the Employee Benefit Research Institute. Thus, they are using HSAs more like checking accounts than investment vehicles. Read more > MOST READ ARTICLES 1 Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals 2 PANC 2020: Is It Time to Re-evaluate TDFs? 3 A New World and New Opportunities for Alpha 4 ERISA Excessive Fee, Self-Dealing Suit Targets MEP 5 PANC 2020: Best Practices for Virtual Meetings—and Avoiding Zoom Fatigue

Sponsored message from AGI What it Means to be Dynamic Target Date Funds (TDFs) have transformed retirement investing, but the static approach to the glidepath leaves many investors at risk. A more dynamic strategy is needed, and Glenn Dial says it all begins with defining what dynamic investing actually is. Read more > CITs and Custom TDFs Shine in Mega Market New research from Northern Trust finds its largest plan sponsor clients have broadly embraced collective investment trusts, and more than half now use custom TDFs. Read more > Non-ERISA 403(b) Conflict-of-Interest Rule Passed in Conn. We previously reported that Connecticut passed a conflict-of-interest bill for non-ERISA 403(b)s. Newly obtained text of the bill as signed by the governor reveals it only pertains to plans offered by political subdivisions of the state.  Read more > Advocating for Aggressive Plan Design With one in three Americans having zero saved for retirement and nearly one-third of Americans over the age of 85 having no savings, it is hard to say that we as a nation are preparing people for retirement. Read more >

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