December 26th, 2017

President Trump’s EBSA Nominee Wins Full Senate Approval The Senate HELP Committee cleared Preston Rutledge’s nomination earlier in December; now the full Senate has approved his nomination to a post in which he will play a critical role overseeing the retirement planning industry and the future of the fiduciary rule.  Read more > ERISA Litigation Landmarks Set the Stage for 2018 One ERISA attorney who specializes in defending employers against fiduciary breach claims says 2017 has delivered no shortage of important, potentially precedent-setting decisions involving employee benefits law; and the stage is set for another whirlwind of a year in 2018. Read more > Aggressive Plan Design Specialist retirement plan advisers know full well what a robust plan looks like—it leverages the basic principles of behavioral finance and choice architecture to turn participants’ inertia into a tool for their own benefit. While the formula is fairly simple, some plan sponsors resist discussions about aggressive plan design, due to misconceptions. Read more > Retirement Industry People Moves Mercer Reveals Leadership Changes in Its Wealth and Health Hemisphere; Milwaukee Institutional Announces Boston Location Led by VP; BPOC Acquires Zenith American; and more. Read more > MOST READ ARTICLES 1 ‘Secure Act 2.0’ Likely to Become a Reality 2 RIA Aggregators Aim for Small-Plan Market Expansion 3 10th Circuit Affirms Great-West Fee Suit Dismissal 4 T. Rowe Price CEO Change Reflects Financial Industry Trends 5 Scrutinizing TDFs and Considering Balanced Funds

IRA Rollovers in 2018 The DOL fiduciary rule does not impact the ongoing discretionary investment management services provided to the IRA. Those are fiduciary services under the Internal Revenue Code (IRC), are not subject to a DOL fiduciary standard of conduct, and do not constitute a prohibited transaction (PT), because you charge a level fee. On the other hand, the rollover recommendation is a fiduciary act under the DOL rules and is subject to the Employee Retirement Income Security Act (ERISA) standard of conduct. Also, in most instances, the rollover recommendation will result in a PT for which an exemption such as the best interest contract exemption (BICE) is needed.  Read more > 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 >

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