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Clearing Up Money Market Fund Reform Misunderstanding |
Some qualified retirement plan sponsors and service providers are misinterpreting the likely impact of the Securities and Exchange Commission’s money market fund reforms, opining the rulemaking will necessarily drive defined contribution plans away from retail money market funds.
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Do Retirement Plan Advisers Have a Duty to ‘Rat?’ |
With more advisers taking on a fiduciary role, they should know when to speak up, or walk away, before a retirement plan sponsor gets them in trouble.
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DOL Stands Firm on Fiduciary Rule Despite Negative Comments |
Department of Labor officials have heard plenty of reasons why the fiduciary rulemaking effort is flawed in the eyes of the investment service providers it’s meant to regulate—but that doesn’t mean the DOL is about to capitulate on its long-running plan to strengthen the fiduciary standard.
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Regulatory Change Brewing Beyond Fiduciary Rule |
Fiduciary reform represents a critical debate for retirement plan service providers and plan sponsors, but fiduciary issues aren’t the only piece of rulemaking they should be concerned about. Beyond its own focus on fiduciary advice issues, the Securities and Exchange Commission is in the process of implementing major money market reform. And don’t forget about FINRA.
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Closer Look at State-Run Retirement Systems for Private Sector |
Four states—California, Illinois, Oregon and Washington—have passed laws paving the way to offer state-run retirement plans, and 18 additional states are considering such a measure. And more recently, the Department of Labor issued its much-anticipated guidance on state-run plans.
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Supreme Court Reaches Decision in Tibble v. Edison |
A 2015 decision from the Supreme Court seems to solidify the “ongoing duty to monitor” investments as a fiduciary duty that is separate and distinct from the duty to exercise prudence in selecting investments for use on a defined contribution plan investment menu.
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What the Industry Is Reading and Recommending |
Our survey found that most advisers are looking forward to reading that next book, while some said it’s a “maybe, if they have the time.” One survey participant was looking forward to reading “anything but business.” “Work-related titles” get the nod over “something I’ve always meant to get around to.”
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Your Clients Auto-Enroll. Now What? |
Advisers can aid retirement readiness through expanded use of auto-features that go beyond enrollment.
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