PLANSPONSOR Weekend Newsdash
Week ending December 22nd, 2017

Happy Friday, readers! Among the variety of website traffic trends observed by the editorial staff during 2017 was the strong relative performance of articles speaking about health care costs and other benefits subjects ranging outside DC and DB retirement plans. While our clicks reports aren’t completely scientific, there seems to be a real budding interest among our adviser readers in branching out and learning more about how their existing skillsets might make it possible to help clients better prepare for the high cost of care that many people face late in life. We hope you will share some of what you learn below with a client or colleague. And please take note, we will not be publishing a newsletter on Monday.  

Health Care and Other Benefits
Planning for Medicare Premiums and Drug Costs Is a Difficult Fact of Life
A new EBRI analysis suggests some couples retiring in the near future could need as much as $370,000 in dedicated savings just for medical care; small wonder to see workers are hungry for advice on managing Medicare premiums and drug costs. Read more >
Divorce and Failing Health Amid Overlooked Retirement Roadblocks
Clients and advisers alike often overlook the possibility of divorce or losing a spouse in their financial planning, according to TD Ameritrade’s latest survey. Read more >
Few Americans Preparing for Long-Term Health Care Savings
Only 41% of consumers surveyed understand what long-term health care expenses will be in retirement, and only one-third are confident they are saving at an appropriate rate to cover long-term health care needs. Read more >
Benefits Need to Be Communicated Year-Round
By making workers aware of health and financial benefits, employers can make their workforce more engaged and productive—and avoid costly expenses. Read more >
Little Consensus on 'Financial Wellness'
There seems to be no consensus on a definition of the trendy term, but plan advisers can create their own business model for offering a ‘financial wellness’ program. Read more >
Catering to Millennial Investors and Job Seekers
According to data from Wells Fargo and TheMuse, if given $1,000 in spare cash to invest, 86% of Millennials would be motivated to invest in a company that “makes the world a better place with their products.” Read more >
Confusion Abounds After Fifth Circuit Decision Vacates DOL Fiduciary Rule

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.

Nearly Three-Quarters of Boomers Want to Delay Retirement

More than three in 10 have no retirement budget.

Will SCOTUS Decide the Fate of the DOL 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.

Many Americans Would Forego Social Security Payments for Student Loan Debt Forgiveness

The Student Security Act of 2017​ would grant $550 in student loan forgiveness for each month a student debtor was willing to raise his or her full retirement age, or $6,600 per year.

DISRUPTION: Insider Service and Strategy Talk With PGIM
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.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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