Happy Friday, readers. What a truly dynamic news week it has been—certainly one for the U.S. history books. This week’s presidential election result, it must be said, opens up just as many questions as it answered. Facing the prospect of a Donald Trump presidency is daunting for some and exhilarating for others, but all of us are facing a new future together after a remarkable (and lengthy) campaign season. In that spirit, collected below are a few highlights from our recent political coverage, offering some food for thought about what might lie ahead.
A Neuberger Berman analysis shows that House Republicans’ tax and retirement policy proposals may suggest a push toward a universal savings account and a consolidation of current tax code retirement savings provisions.
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It’s a particular skill of Congress to make the improbable appear promising—whether it comes to overturning the Affordable Care Act or, as was the case this week, delaying the DOL’s fiduciary reform.
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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.
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.
In an exclusive interview with PLANADVISER, PGIM Head of Institutional Defined Contribution Josh Cohen offers some guidance to advisers speaking with plan sponsors about litigation, fiduciary risk and progressive plan design.