PLANADVISERdash – April 28, 2021

Weekday news and analysis for retirement plan advisers

Wednesday, April 28, 2021

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Advisers Giving Back: Sean Patton

Raised by his family to believe in the importance of giving back, Patton now leads various important efforts in the Rochester community, from supporting breast cancer research advocates to helping run an adventure camp for children and young adults with disabilities.

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The Inside Take: Ascensus CEO on GIC, Stone Point Acquisition

Ascensus CEO David Musto says the goal of the deal is not for his firm to radically shift its strategy or change its approach to doing business; instead, the transaction is about scale, resources and knowledge-sharing.

Today’s Most Read

1.	Principal Continues Focus on Asset Management, ‘Jet Fuel’ of the Business
2.	Biden’s First Veto Keeps DOL’s ESG Rule in Place
3.	2023 Retirement Plan Adviser of the Year Finalists

Aon, Alight Win Lawsuit Alleging PRT Failures

Following a bench trial, said the firms “acted prudently and reasonably in administrating, investing and terminating the pension plan.”

Lifetime Income Illustrations

Preparing committees for this SECURE Act requirement.

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.

Marketing Tips for 401(k) Plan Professionals

Rebecca Hourihan, founder of 401(k) Marketing, offers suggestions to help advisory industry professionals feel more confident in their personal brand.

Market Mirror

Tuesday, the Dow was up 3.36 points (0.01%) at 33,984.93, the Nasdaq closed 48.56 points (0.34%) lower at 14,090.22, and the S&P 500 was virtually unchanged at 4,186.72. The Russell 2000 increased 3.26 points (0.14%) to 2,301.27, and the Wilshire 5000 was virtually unchanged at 44,049.36.

The price of the 10-year Treasury note was down 4/32, increasing its yield to 1.623%. The price of the 30-year Treasury bond fell 1 1/32, bringing its yield up to 2.298%.

Industry Intel Roundup
Featured Webcasts

PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.

SECURE 2.0 Webinar Series: New Plan Creation Under SECURE 2.0

If the SECURE 2.0 Act—which builds on the Setting Every Community Up for Retirement Enhancement Act of 2019—works as expected, new 401(k) and 403(b) retirement plans will proliferate in the years ahead. The legislation provides tax credits for small businesses that start a retirement plan for their employees; in 2025, it will mandate that those plans utilize automatic enrollment and automatic escalation for qualified employees. These are just some of the provisions whereby Congress is targeting its overarching goal of addressing the nation’s retirement savings gap. Join PLANSPONSOR, PLANADVISER and a panel of industry experts as we discuss: • SECURE 2.0 provisions related to the creation of new retirement plans; • Why existing plan sponsors should care about the rules for newly created plans; and • How SECURE 2.0 can assist advisers and employers in closing the retirement plan coverage gap.

SECURE 2.0 Webinar Series: SECURE 2.0 and Financial Wellness Benefits

SECURE 2.0—which expands on the Setting Every Community Up for Retirement Enhancement Act of 2019—has gotten attention for its retirement plan incentives and mandates. But the legislation was also designed to attack some of the biggest financial stresses for everyday Americans, such as by allowing for matching contributions toward student loan debt and encouraging emergency saving. These are just two new benefits in the law that employers may use to help boost employees’ overall financial wellness and facilitate saving for retirement. Join PLANSPONSOR, PLANADVISER and a panel of industry experts as they review: • SECURE 2.0 provisions related to employee financial wellness; • Ways plan sponsors can implement new benefits, and how advisers can help them; and • How to determine the best benefits for a plan sponsor’s unique employee group.

SECURE 2.0 Webinar Series: SECURE 2.0 Has Passed. Now What?

At the close of last year, Congress passed and President Joe Biden signed the SECURE 2.0 Act of 2022, which builds upon the most significant retirement plan legislation in more than a decade, the Setting Every Community Up for Retirement Enhancement Act of 2019, or SECURE Act. The new law contains 90 provisions aimed at modernizing the retirement system, encouraging creation of new retirement plans and easing administrative requirements, not to mention prompting plan participants to increase what they save. Most retirement plans will be affected in some way, including those for lower-income workers and small business staff. Join PLANSPONSOR, PLANADVISER and industry experts as we discuss: • The impact many provisions will have on plan sponsors and participants; • A timeline for the issuance of new rules and regulation effective dates; and • What actions plan sponsors must take now to comply with the law.

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