PLANADVISER Weekend Newsdash
Week ending November 27th, 2015
NOTE FROM THE EDITOR
The shortened work week still brought plenty of news for retirement planners. We heard from one provider how student loans can wreck retirement savings, while researchers at another firm measured the first bounce in U.S. adviser headcount in nearly a decade. One top of it all, PLANSPONSOR released its annual DC Survey, giving critical insights into recordkeeper popularity and performance.
Editor's choice
Firms Partner with Colleges to Recruit Young Advisers
We learned this week financial services firms are increasingly partnering with colleges and universities to develop financial planning curriculum in order to attract new graduates to the profession. Edward Jones, for example, has partnered with 11 universities to prepare students to take the Series 7 exam. Read more >
Student Loans Wreck Retirement Savings
It’s almost hard to believe, but LIMRA Secure Retirement Institute Research finds paying down $30,000 in student loan debt, if prioritized over retirement savings, can rob a given worker of up to $325,000 in potential savings by retirement. Read more >
Bounce in Adviser Headcount First in Nine Years
Kenton Shirk, associate director at Cerulli, says many positive developments led to the headcount growth last year. From the adviser perspective, there is a heavier focus on teaming and onboarding rookie advisers into multi-adviser practices. Read more >
Many Investors Focus on Wrong Performance Factors
No way around it—new research from TIAA-CREF into the way U.S. retirement savers think about their investments is downright troubling. Many know to look beyond daily or monthly performance, but there is still too much of a focus on annual trends and themes. Read more >
PLANSPONSOR Defined Contribution Survey
The 2015 Defined Contribution Survey from PLANSPONSOR measures and evaluates satisfaction levels with 401(k) and other DC providers, according to feedback from their plan sponsor clients across 23 distinct areas of participant and sponsor services. How did your preferred service provider partners do? Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

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

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.
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.
Many Near-Retirees Don't Understand Social Security Benefits

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

Once They Catch On, PEPs Could Grow Exponentially
The current hesitancy over how they will take shape will be overcome by appreciation among advisers and sponsors alike at the prospect of expanding retirement coverage, sources say.
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