Week ending January 29th, 2016

NOTE FROM THE EDITOR

Happy Friday, PLANADVISER readers. The top news this week for advisers is the Department of Labor’s fiduciary rule. After much debate, the conflict-of-interest rule is finally up for final review at the Office of Management and Budget. Below are top-clicked articles for the week and other curated content in compliance, client services and practice management.

Editor's choice

COMPLIANCE

OMB Confirms Receipt of Fiduciary Rule Language

After years of speculation and an intense, ongoing retirement plan industry debate, the Department of Labor has advanced its conflict of interest regulations to the Office of Management and Budget for final review. Read more >

COMPLIANCE

Portability a Key Component of President's Retirement Initiatives

Retirement industry providers and others applaud the initiatives announced this week. Read more >

CLIENT SERVICE

Defaulted Retirement Plan Investors Still Need Coaching

Target-date funds and other QDIAs are often thought of as set-it and forget-it investments, but new data from J.P. Morgan Asset Management highlights the need for ongoing guidance and education among DC plan participants. Read more >

COMPLIANCE

Oregon Senator Unveils 401(k) Alternative

A national, auto-enrolled retirement savings plan proposal is modeled on the government Thrift Savings Plan. Read more >

PRACTICE MANAGEMENT

Recruiting Techniques That Work

What are the winning questions that help you winnow candidates, and what are your favorite practices? 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.

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.

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.

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