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
SECURE Act Ensnared in Senate After Flying Through House
Washington insiders say Senator Ted Cruz is probably the biggest roadblock to the SECURE Act being passed in the near-term under unanimous consent; among other issues, he wants the bill to allow people to use tax-advantaged 529 college savings accounts to pay for home school expenses.
Adidas 401(k) Lawsuit Argues Passive Funds Best for Participants

Participants allege Adidas’ decision-making, monitoring and soliciting bids from investment funds was deficient

Dow, DuPont and Corteva Sued for Allegedly Ducking Pension Obligations

According to plaintiffs in a new ERISA lawsuit, the pension plan in question was underfunded by nearly $6 billion dollars when its assets and liabilities were transferred to a spinoff company.

Retirement Industry People Moves

Insight Investment names portfolio strategist; Ascensus adds RVP to cover northern Texas region; QMA announces chief business officer; and more.

Newly Allowed 401(k)s Will Need Advisers
Advisers may shy away from helping hemp and CBD companies with their 401(k)s because they may find themselves crossing into advising for a cannabis company as well, but there are protections—and money to be made.

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

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

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