PLANADVISER Weekend Newsdash
Week ending May 10th, 2019

The Treasury Department’s Office of Tax Policy and the IRS publish a Priority Guidance Plan each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The federal agencies are currently accepting comments for the next Priority Guidance Plan, which will be in effect during the period from July 1, 2019, through June 30, 2020. Find more information on the Priority Guidance Plan below, along with coverage of other recent regulatory developments.

Regulatory News
Treasury, IRS Ask for Comments on 2019-2020 Priority Guidance Plan
The 2019-2020 Priority Guidance Plan will identify guidance projects that the agencies intend to actively work on as priorities during the period from July 1, 2019, through June 30, 2020. Read more >
PBGC Submits Updated Proposal for Determining Whether Plans Covered by ERISA
The agency explains that, in limited situations, employers will be able to use the soon-to-be issued coverage forms to request an opinion letter about whether a plan being developed is likely to receive PBGC coverage. Read more >
Upcoming Impactful Regulations in the Retirement Industry
The latest legislation to affect retirement planning in 2019 and beyond.  Read more >
Unlike SEC’s Approach, New Jersey Fiduciary Regs Have Teeth
The state’s former securities chief says recently issued fiduciary regulations have been crafted in the interest of aggressively tamping down on conflicts of interest in the financial services industry. Read more >
IRS Expands Opportunities for Retirement Plan Sponsors to Self-Correct
The IRS Self Correction Program has been expanded to include certain plan document failures and certain loan failures and a way to self-correct via plan amendments. Read more >
Council Finds Noncompliance With ERISA Fidelity Bond Rules
For this reason, the ERISA Advisory Council is recommending that the Department of Labor relaunch the updated rules it published in Field Assistance Bulletin (FAB) 2008-04. Read more >
MOST POPULAR STORIES
Principal Reveals Eagerly Awaited Wells Fargo Platform Integration Strategy

Principal is incorporating capabilities from the Wells Fargo Institutional Retirement and Trust platform into its own proprietary recordkeeping system, which will serve Principal and transitioning Wells Fargo customers moving forward.

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.
Washington Financial Scooped Up By Hub International

With the acquisition of Washington Financial Group, HUB International has made public the first of a series of significant anticipated acquisitions of Global Retirement Partners firms.

2019 PLANADVISER National Conference
Jumbo Imprudence Alleged in H.E. Butt ERISA Challenge

Plaintiffs says defendants failed to properly monitor and control the plan’s expenses, and allowed the plan to become one of the most expensive “jumbo” 401(k) plans in the country.

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

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