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Week ending August 5th, 2016 |
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Happy Friday, readers! In a recent conversation with PLANADVISER, one provider executive suggested she is “very optimistic about our industry’s chances of solving the DC retirement income question, but we’re only in the infancy of this effort.” The Department of Labor fiduciary rule will shape more than delay progress on improving individual retirement accounts and access to annuities, she speculates. In that spirit, collected below is a handful of articles on the best ways to use IRAs to shape and control retirement spending for clients. |
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| Spending Rates in Retirement Are Modest | | When Vanguard first started its research on retirement spending, it assumed, as many financial planners do, that retirees look at all assets in all accounts and make a plan to draw down from all accounts. However, the research found four cornerstone accounts—DC plans, IRAs, mutual funds and brokerage accounts—are prized as long-term holdings.
Read more > | | | Plan Participants Need Understanding of Roth Accounts | | Many U.S. employers are missing out on an opportunity to help employees with their financial well-being by not offering or fully explaining and promoting the benefits and value of Roth 401(k) contributions, according to retirement experts at Willis Towers Watson. Retirement plan advisers can help them.
Read more > | | | Clear Link Between Traditional IRAs and Rollovers | | According to ICI data, at year-end 2014, nearly a third of Roth IRA investors were younger than 40, compared with just 15% of traditional IRA investors. There are significant differences between traditional and Roth IRA investors, yet both vehicles provide savers with important flexibility in their retirement savings options.
Read more > | | | Rollovers Under the Fiduciary Rule | | The new DOL fiduciary rule, which applies starting April 10, 2017, does allow you to provide distribution or rollover advice; however, there are special requirements for doing that. The first thing to consider is, what exactly constitutes fiduciary “advice” in this context.
Read more > | | | Income Planning Requires Annuity Know-How | | Two in three older advisory clients are seeking help with income planning, but only one-third of financial professionals actively advise about indexed annuities.
Read more > |
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| 6th Circuit Backs Defense in Fidelity Freedom Funds ERISA Suit | One expert who works on the fiduciary insurance side of the retirement plan industry calls the appellate ruling ‘the best decision ever written in an excessive fee case,’ and one which could dissuade other plaintiffs in similar cases. | | | Ready for PTE 2020-02 July 1 Enforcement? | | The July 1 enforcement date for the Department of Labor’s new best-interest rollover documentation requirements has been widely publicized, but that doesn’t mean all advisers are ready. | | | Olin Corp. Soundly Defeats ERISA Lawsuit | The judge’s opinion sides firmly against the arguments made by the plaintiffs in the case, who are among the many litigants currently represented by the law firm Capozzi Adler. | | | Retirement Industry People Moves | The Retirement Advantage hires veteran financial professional, while AssetMark will acquire Adhesion Wealth. | | | Significant Retirement Bill Moves Forward in Senate | Sources say the Senate HELP Committee’s measure, called the RISE & SHINE Act, is expected to be combined with a Finance Committee measure into one Senate bill, which will then need to be reconciled with House-passed legislation. | |
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