PLANADVISER Weekend Newsdash
Week ending April 3rd, 2020

Another week has passed as the United States and nations around the world grapple with the impact of the coronavirus pandemic. One big stimulus package has been passed by Congress, and debate has already started on follow up relief legislation. Moving forward, plan sponsors face tough choices about freeing up hardship withdrawals and expanding loan options for participants. Some may even choose to suspend contributions or take other drastic measures. As we tackle these challenges together, we hope you find some helpful information below, and encourage you to share some of what you read with a client or colleague.

Editor's choice
SEC Says Coronavirus Will Not Delay Reg BI, Form CRS
“The uncertainties caused by COVID-19 have not changed our perspective or commitment,” SEC Chairman Jay Clayton says. Read more >
Hard Choices Ahead About Easing Hardship Withdrawals
With the coronavirus pandemic causing acute financial harm to so many Americans, plan sponsors may feel compelled to offer hardship withdrawal relief in their plans; plan advisers can help them make the best decisions for their workforce by, for example, endorsing loans over outright withdrawals.  Read more >
Building Digital Connections in a Socially Distant World
Those few remaining advisers who have been reluctant to integrate digital communications as a core part of their client service strategies have little choice but to reconsider in this new world. Read more >
How to Run a Remote Advisory Firm
‘This is likely the moment we will become full-time remote and never go back,’ one adviser says. ‘The challenge will be maintaining camaraderie.’ Read more >
Staying Audit Ready in a Turbulent Time
As one might expect, what the Department of Labor (DOL) and the Securities and Exchange Commission (SEC) are particularly interested in is how advisers are paid. Read more >
MOST POPULAR STORIES
Three New ERISA Lawsuits Bash Actively Managed TDFs

Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.

Attorneys Offer Closer Reading of DOL’s Open MEP RFI

Advisers and broker/dealers hoping to work with open multiple employer plans now have a short window to offer their perspectives to the Department of Labor and the Internal Revenue Service.

Another Lawsuit Challenges Use of Untested CITs in 401(k) Plan

A similar lawsuit was filed in May against an investment manager and a different plan sponsor.

Court Calls Foul (For Now) on Northrop Grumman Settlement

Following the filing of various class member objections, a federal district court has denied a settlement agreed to by the parties in an ERISA fiduciary breach lawsuit against Northrop Grumman.

Estee Lauder Faces 401(k) Plan Excessive Fee Lawsuit

The lawsuit argues that while the TDFs in the plan are CITs, they are private label CITs with much higher expense ratios than the typical CITs offered by JPMorgan.

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