PLANSPONSOR Weekend Newsdash
Week ending September 16th, 2017
Happy Friday, readers! This weekend’s mailing features timely articles and research on the topic of Client Service. We take a deep dive into the latest health care cost inflation figures and how DC plan clients view the intersection of health and wealth planning. Additionally, we offer a new take on the importance of education about hardship withdrawals and loans, and on the efforts by one advisory firm to increase the diversity of its staff and clientele alike. 
Client Service
Worried About Health Care Cost Inflation? It Has Only Just Begun
The health care cost inflation projections contained in HealthView Services’ latest reporting are simply astounding; accounting for projected lifetime inflation, a healthy retired couple at 65 can expect $600,000 in health-related expenses alone. Read more >
Advisers Compete for Benefits Dollars and Time
New research from Fidelity warns that plan sponsors’ increasing focus on health care is cutting back the amount of money and time they have to devote to retirement benefits; satisfaction with advisers is also up. Read more >
Provider Call Centers Aim to Educate About Hardships and Alternatives
One of the biggest downsides to taking out a hardship withdrawal is that it diminishes a participant’s ability to make the most out of compounding earnings. Moreover, it’s often difficult for a participant to put the amount of money withdrawn back in the plan. Read more >
Educating Participants About the Dangers of Taking Out a 401(k) Loan
It is critical for plan sponsors and advisers to educate participants about the consequences of taking out a loan, Julie Stich, associate vice president of content at the International Foundation of Employee Benefit Plans tells PLANADVISER. “They need to keep the money in their plan to build up money over time through contributions and the compounding of investment returns,” Stich says. Read more >
Inclusion, Diversity and the Noble Purpose of Advisers
The principal of financial adviser inclusion and diversity at Edward Jones reflects on her job leading the advisory company’s revamped diversity efforts—informed by her own first career as an adviser in the field. Read more >
Advisers Beware and Be Cautious When Talking Taxes in 2018

During a webinar called to discuss the advisory industry impacts of the Tax Cuts and Jobs Act, experts warned advisers to be ready to decline to offer tax advice during 2018—over and over again.

Confusion Abounds After Fifth Circuit Decision Vacates DOL Fiduciary Rule

The latest decision out of the Fifth U.S. Circuit Court of Appeals throws a dramatic new element of confusion into the epic regulatory saga that has been the rollout of the Department of Labor fiduciary rule.

Will SCOTUS Decide the Fate of the DOL Fiduciary Rule?

Some ERISA attorneys argue the Fifth Circuit decision last week to vacate entirely the DOL’s fiduciary rule expansion makes a Supreme Court decision on the matter inevitable; others are less sure that a decisive SCOTUS decision could be forthcoming, instead expecting the SEC to take the lead; still others admit they have little idea how the regulatory picture will shake out, recommending patience and ongoing compliance.

Three Quarters of Americans Have Not Planned for LTC Needs

Yet nearly six in 10 say saving for long-term care is a financial priority

HSA Knowledge Gap Offers Clear Adviser Service Role

Health savings accounts are often described as the 401(k) of health care—so it is only natural that retirement specialist advisers can play an important role in educating the public about these important savings vehicles; survey data shows more education and advice is desperately needed. 

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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