PLANADVISER Weekend Newsdash
Week ending December 13th, 2019

For the casual observer, the shifting tangle of laws and regulations governing the behaviors of retirement plan fiduciaries can seem almost comically complex. For industry practitioners, wrestling with regulatory compliance is a daily battle, and one with potentially dire personal and professional consequences. Below you will find a roundup of significant regulatory events from 2019. We hope you’ll share some of what you read with a client or colleague.

Editor's choice
Proxy Voting Update on DOL Agenda
The DOL is aiming to “modernize fiduciary practices related to the voting rights associated with ERISA plan investments and harmonize those regulations with the requirements of other regulators.” Read more >
Supreme Court Hears Polarized Arguments in Intel ERISA Case
While not divided across political lines, the parties in Sulyma v. Intel Corporation Investment Policy Committee view the question of what establishes “actual knowledge” of an alleged fiduciary breach under ERISA very differently. Read more >
Senator Introduces Bill to Encourage Faster Student Debt Payoff
HELPER Act would allow Americans to annually take up to $5,250 from a 401(k), 403(b), 457 plan or IRA—tax and penalty free—to pay for college or pay back student loans. Read more >
Massachusetts Steps Closer to Stricter, Uniform Fiduciary Standard
Supporters of the Massachusetts proposal say the state-based regulations will be far more effective in tamping down on brokerage industry conflicts of interest compared with the national Regulation Best Interest. Read more >
1st Circuit Reverses Union Pension Liability Decision
As the appellate decision explains, ownership percentages are less important than organizations’ operating structures when determining withdrawal liability from a multiemployer union pension. Read more >
What Advisers Should Know About GDPR
While the GDPR does not directly address U.S. benefit plans, it should be of particular interest to defined contribution plan sponsors and their service providers because they hold personal information for each plan participant. Read more >
MOST POPULAR STORIES
With Prudential Acquisition, Empower Aims for Growth Up to 3x Faster Than Other Recordkeepers

The CEO of the nation’s No. 2 recordkeeper says Empower’s focus will continue to be on a best-in-class user experience.

Efforts to Boost Americans’ Retirement Savings Continue at Full Speed

Congressional leaders and asset management executives say they are committing to furthering legislation to expand coverage and boost savings

Eyes on the Investment Menu
Experts share insights on the construct of a modern DC plan lineup.
‘Secure Act 2.0’ Likely to Become a Reality

Retirement Plan Execs Confident Senate Will Pass the Bill Into Law

ERISA Ruling in 5th Circuit Supports American Airlines Defendants

The appeals court has technically affirmed, vacated and reversed parts of a district court ruling that granted summary judgement against the plaintiffs; while this sounds like a mixed outcome, the appellate ruling benefits the defense.

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