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August 19th, 2015 |
| Group Estimates Fiduciary Rule Cost at $3.9B | | A new report from the Financial Services Institute projects the DOL’s fiduciary rule implementation would cost nearly 20 times what the agency has estimated. The report argues the DOL does not take into account the ongoing costs of maintaining compliance with the rule, which will be substantial for many serving the qualified retirement plans market.
Read more > | | | Clearing Up Money Market Fund Reform Misunderstanding | | Some qualified retirement plan sponsors and service providers are misinterpreting the likely impact of the Securities and Exchange Commission’s money market fund reforms, opining the rulemaking will necessarily drive defined contribution plans away from retail money market funds. In fact this is not the case.
Read more > | | | Addressing New Same-Sex Marriage Rules | | In a 5 to 4 landmark opinion issued June 26, the U.S. Supreme Court in Obergefell v. Hodges held that each state must allow marriages between two people of the same sex and recognize such marriages when they were lawfully performed in another state. PLANADVISER columnist Marcia Wagner, of the Wagner Law Group, explains what your retirement plan clients need to know.
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| Recordkeeping Landscape Has Shifted Significantly | | Recordkeeping systems are not as varied as they used to be, but it’s still important for plan advisers to help their sponsor clients pick the right provider. The major differentiators today include “volume, customization and control,” says Debbie Pritchard, a vice president who leads Schwab Retirement Technologies.
Read more > | | | Few Americans Saving More for Retirement | | Only 19% of Americans have increased the amount they are contributing to their retirement savings in the past year, Bankrate.com found through a survey. In addition, 14% are saving less, and 55% are saving the same amount.
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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Advertising: Paul Zampitella paul.zampitella@strategic-i.com
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