PLANADVISERdash – March 3, 2021

Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR

March 3rd, 2021

SEC Chair Gensler’s Confirmation Hearing Displays Parties’ Priorities

Democrats used Gary Gensler’s confirmation hearing to speak to issues of racial and wealth inequality exacerbated by the pandemic—which has killed more than 500,000 Americans and caused a surge in unemployment—while Republicans focused squarely on the potential of government overreach. Read more >

Even Top Financial Advisers Have Been Hurt by COVID-19

The study finds that even though only 37% of high performers reported an optimistic financial outlook last year, many are looking ahead to enhance the profitability of their practice in the coming year. Fifty percent of top advisers said adding new clients will be their top priority to enhance profitability. Read more >

2021 PLANSPONSOR Plan Adviser of the Year Nominations End This Week

Nominations for the 2021 PLANSPONSOR Retirement Plan Adviser of the Year awards may be made by plan sponsor clients, employers, brokers/dealers of eligible advisers, as well as from working partners of these advisers. Read more >

Some Say Union Revival Could Address Retirement Insecurity

Data from the Bureau of Labor Statistics shows the U.S. now has the fifth lowest trade union density of the 36 member nations of the Organization for Economic Co-operation and Development. Read more >

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Complying With the Custody Rule and the New Custody Proposal

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. Read more >

Pandemic Lessons: The Importance of the Savings Hierarchy

Sources agree that, without a solid foundation of advice about the ‘savings hierarchy,’ even successful investors can find themselves short of liquidity at critical times, most notably during emergencies. Read more >

Market Mirror

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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