PLANADVISER Weekend Newsdash
Week ending August 14th, 2020

Greetings loyal PLANADVISER readers. This edition of PLANADVISERweekend offers a 2020 compliance update. From action at the Supreme Court to new debates on Capitol Hill, a lot has happened so far this year—not to mention the regulatory and legislative impacts of the coronavirus pandemic. We hope you find our coverage helpful and consider sharing some of what you read with a client or colleague. Stay well!

Editor's choice
DOL Motives for Fiduciary Rule Questioned in Public Comments
Consumer groups and advocates of the fiduciary adviser industry want the Department of Labor to reconsider aspects of its proposed fiduciary rule. Read more >
Princeton ERISA Settlement Features $5.8M Price Tag
In addition to the payment into a settlement fund, Princeton has agreed to what the settlement agreement calls “therapeutic relief,” including a pledge to not raise fees.  Read more >
Biden’s Plan to Shore Up Americans’ Retirement Builds on Status Quo
It proposes reinforcing Social Security and Medicare as key steps to providing greater retirement security to older Americans. Read more >
Segal Leaders Perplexed Over Treasury’s Benefit Cut Rejections
A law passed in 2014 allows stressed union pensions to reduce benefits in order to prevent insolvency, subject to approval by the U.S. Treasury. One leading actuarial firms says the agency is preparing to wrongfully reject an application made by one of its clients. Read more >
SEC Fund Report Proposal Seen as Big Step Toward Modernization
One attorney who works on Securities and Exchange Commission compliance issues says the proposal will help retail investors digest key information while ensuring transparency remains a top priority. Read more >
DOL’s ESG Restrictions Prompt Retirement Industry Head Scratching
Broad based demand is building among U.S. retirement plan investors for access to environmentally and socially responsible investments, leaving industry analysts wondering why new restrictions are being proposed by the Trump administration. Read more >
MOST POPULAR STORIES
Excessive Fee Lawsuits Expected to Continue to Rain Down on Plans
Settlements have totaled more than $1 billion, making insurers think twice about new fiduciary insurance policies.
‘Secure Act 2.0’ Likely to Become a Reality

Retirement Plan Execs Confident Senate Will Pass the Bill Into Law

Health, Family, Purpose, Finances: ‘The New Four Pillars of Retirement’ 

Edward Jones and Age Wave say advisers should take a new approach to working with retirees by helping them determine what they want to do when they stop working.

Wake Forest University Baptist Medical Center Sued Over 403(b) Plan Fees

The lawsuit says plan fiduciaries failed to ensure reasonable investment fees and mismanaged revenue sharing to pay for administrative expenses.

Talking Digital Advice Trends With Morningstar and DFA
Morningstar Investment Management’s head of digital advice outlines his firm’s expanding collaboration with Dimensional Fund Advisors—the goal of which is to deliver a more customizable managed account service to market in support of financial advisers.
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