PLANADVISER Weekend Newsdash
Week ending November 18th, 2016
Editor's choice
Data and Research
Scorecard Reports Millennials Are Participating More in Retirement Savings
The key to the increase in engagement seems to be automatic and mobile enrollment. Read more >
Products
Capitol One Eliminates Commission-Based IRAs
As the implementation date for the Department of Labor (DOL)’s Conflict of Interest rule approaches, Capital One Investing will be moving away from commission-based products within its retirement-account services. Read more >
Investing
DC Specialists Embrace Custom TDFs
The number of DC specialist advisers making customized target-date fund recommendations has increased significantly in just the last year. Read more >
Compliance
Second Suit Targets Edward Jones Over Self-Dealing Claims
Edward Jones is being accused by another set of plaintiffs of favoring the investments of its “preferred partners” in its 401(k) plan, enriching the firm at the expense of performance. Read more >
Compliance
Financial Engines and Xerox Questioned in ERISA Suit
The latest ERISA lawsuit to be filed targets Xerox and Financial Engines for advice arrangements negotiated between the firms and several Ford Motor Company retirement plans. Read more >
MOST POPULAR STORIES
Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients
Coronavirus-related withdrawals made in 2020 were a financial lifeline for some, but they could also turn into a major tax headache for others.
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Judge Finds Participant Data Is Not a Plan Asset in Case Against Fidelity

As part of an excessive fee lawsuit against Shell Oil, Fidelity was named as a defendant and accused of breaching its fiduciary duties by sharing participant data with affiliates for solicitation of other products.

Many Near-Retirees Don't Understand Social Security Benefits

More than one-third failed a basic Social Security quiz administered by MassMutual.

Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
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