PLANADVISER Weekend Newsdash
Week ending December 11th, 2020

Greetings loyal PLANADVISER readers! With so many important and rapidly evolving national news stories playing out right now, it can be hard to keep track of more mundane matters like retirement plan litigation and regulations. Yet the fiduciary duties of prudence and loyalty remain paramount in the operation of tax-qualified retirement plans. With that in mind, collected below is a recap of some of the most important legal and regulatory developments of recent weeks. We hope you find the reporting helpful and consider sharing some of what you read with a client or colleague.

Editor's choice
OMB Has Received a Final Fiduciary Rule From DOL
The sense of déjà vu associated with the filing of a finalized fiduciary rule by the Department of Labor is palpable, but one ERISA expert says this version could actually stick—for good—despite the pending change in administration. Read more >
2020 Required Amendments List Published by IRS
The two items that may require an amendment relate to difficulty of care payments treated as compensation for 415 limits, and the application of cooperative and small employer charity pension plan rules. Read more >
What to Expect From a Biden Appointee-Led SEC
A former Securities and Exchange Commission litigator who was at the regulator during the transition from the Clinton administration to the Bush administration considers what might happen when Democratic President-elect Joe Biden takes office. Read more >
SEC Chair Clayton Confirms Plan to Step Down at Year’s End
Jay Clayton’s stint at the helm of the Securities and Exchange Commission included oversight of the Regulation Best Interest finalization and implementation process, among other important projects. Read more >
Has the DOL Found an ESG Middle Ground?
George Michael Gerstein, an ERISA attorney with Stradley Ronon, dissects the DOL’s final rule regarding ESG investing in retirement plans, calling it a compromise that might be here to stay. Read more >
Does Senate Hearing Foreshadow More Retirement Reform?
Commenters at a Senate Finance Committee hearing held Wednesday sure hoped so—and they had a lot of ambitious ideas. Read more >
IRS Offers Guidance for Safe Harbor Plans on SECURE Act Provisions
A Q&A addresses the auto-enrollment cap and safe harbor notice requirements. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

HUB Names New Leader for Retirement and Private Wealth

PLANADVISER has learned that HUB International has named Joe DeNoyior as the new leader for Retirement and Private Wealth.

Retirement Plan Trustee Faces Cybersecurity-Related Lawsuit

The lawsuit says the trustee failed to prevent a fraudulent distribution from a participant's account and is failing to take responsibility.

Democrats Have Won the Power to Fix Union Pensions
A bipartisan compromise solution to end the multiemployer pension crisis is urgently required, sources agree, and one could finally be forthcoming in the U.S. Congress.
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