PLANADVISER Weekend Newsdash
Week ending January 11th, 2019

Happy Friday, readers! Regular readers of our newsletters will already know that 2019 is off to a busy start in terms of retirement plan litigation, regulation and legislation. An important decision has been handed down in a 403(b) lawsuit targeting a big-ticket U.S. university; the IRS has published a new revenue procedure; the PBGC has updated its table of penalties and fines; and more. Read the stories below to get caught up on the latest developments in Washington and the federal courts.

Editor's choice
Georgetown University 403(b) Plan Defeats ERISA Challenge
In a colorfully worded opinion, the district court judge chides plaintiffs for failing to acknowledge basic facts about the way annuities work and their well-established role in 403(b) plans. Read more >
‘Other Circumstances’ Added As Allowable Reason for Applying for Determination Letter
A new Revenue Procedure makes a change to Revenue Procedure 2018–4 Section 8.02 to add new section 3, “Other Circumstances,” to provide a new category for which determination letters can be requested. Read more >
PBGC Updates Penalties for Failure to Provide Information
New maximum civil penalties for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices have been announced. Read more >
New House Ways & Means Chair Introduces Multiemployer Pension Bill
Representative Richard Neal has introduced a bill with bipartisan backers that would take several steps towards solving the union multiemployer pension funding crisis. Read more >
Puerto Rico Treasury Updates 2019 Contribution/Benefit Limits
The Puerto Rico Internal Revenue Code of 2011 requires that, before the beginning of each taxable year, the PR Treasury provide notice of the applicable limits under Section 401(a) of the U.S. Internal Revenue Code of 1986, which are incorporated by reference into the Puerto Rico Code limits. Read more >
2018 Delivered Key Decisions in ERISA Cases
ERISA lawsuits very often lead to settlements or dismissals, but 2018 brought a series of important and potentially precedent-setting decisions in both district and appellate courts. Read more >
MOST POPULAR STORIES
House Subcommittee Witnesses Bash SEC’s Regulation Best Interest

Out of five witnesses called before the House Subcommittee on Investor Protection, Entrepreneurship and Capital markets, just one spoke favorably about the SEC’s conflict of interest regulations—and his support was conditioned on the SEC taking further action in this area.

Mixed Ruling in Oracle ERISA Suit Strongly Favors Defense

Despite a setback for Oracle at the class certification stage, a new ruling out of a federal court in Colorado pushes back strongly against many—but not all—of the plaintiffs’ claims.

Retirement Industry People Moves

Nationwide Retirement Plans adds consultant relations director; Chalice creates partnership with Orion Services; GoldPoint Partners appoints managing principle; and more. 

Many Widows, Divorcees Feel Patronized by Financial Advisers

If they feel this way, they are inclined to shun advisers altogether, New York Life Investments learned in a survey.

2019 PLANSPONSOR Retirement Plan Adviser of the Year Finalists
The 2019 PLANSPONSOR Retirement Plan Adviser of the Year finalists have demonstrated leadership and a commitment to excellence for their retirement plan sponsor clients and participants. Congratulations to all the firms on the list!

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

Subscribe to Adviserdash, click here.
To unsubscribe, click here.
BrightScope / CIO / FWW / Global Custodian / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund / The Trade