Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 13th, 2015
DOL Stands Firm on Fiduciary Rule Despite Negative Comments
Despite a torrent of negative comments about the proposed rule changes aired during the first three days of public hearings called in Washington, D.C., Labor Secretary Thomas Perez seemed to double down on the rulemaking effort this week.  Read more >
Form 5500 Filing Extension Extended
Also extended under the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 is a provision in prior pension reform allowing over-funded pensions to use their excesses to fund retiree health and life insurance benefits. Read more >
Record Companies Sued Over Pension Contributions
Several well-known music recording companies are named in a lawsuit tied to music streaming revenues and other sources of potential pension contributions. The American Federation of Musicians and Employers’ Pension Fund says an independent audit revealed monies due to its workers.  Read more >
RIA Industry Stats Show Client Base Growth, Challenges
A growing client base underscores the continued health of the advisory profession, according to new research from the Investment Adviser Association and National Regulatory Services. While the pool of client assets has grown substantially, so too has the number of advisory firms competing for business.  Read more >
Class Certified in 401(k) Plan Trustees’ Lawsuit Against John Hancock
Another Stressed Union Pension to Get PBGC Support
PPL Corp. and Mass Brigham General Face ERISA Lawsuits
70% of Eligible Employees Have Joined California’s State-Run Retirement Program
Hub Expects Good Retirement Outcomes for American Workers
Prudential Issues Resources for College Savings
Prudential Financial has issued a new white paper to help families figure out how to pay for a college education. The research emphasizes “seeking out all potential sources of financial aid, rather than heavily relying on student loans,” which Prudential says can strangle a family’s finances. Read more >
FIS to Acquire SunGuard
FIS, a provider of banking and payments technology solutions, has signed a definitive agreement to acquire SunGard, a provider of financial software, including retirement plan recordkeeping systems. Read more >
TIAA-CREF Launches New Funds
The company launched a short-term bond index fund and expanded its suite of responsible investment funds. Read more >
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