PLANADVISER Weekend Newsdash
Week ending February 28th, 2020

Happy Friday, readers! It’s been a busy few weeks for the U.S. Supreme Court in terms of rulings that will impact the retirement plan industry. There are also a number of additional pending cases that could have a dramatic impact on our space. With that in mind, we have compiled below some of our recent coverage of action at the Supreme Court. We hope you will share some of what you read with a client or colleague.

Editor's choice
Questions Left Unanswered in Supreme Court’s Intel Ruling
ERISA attorneys are grappling with the potential implications of the Supreme Court’s new ruling in Intel vs. Sulyma; some are speculating the growing use of electronic delivery methods for retirement plan disclosures may reduce the impact. Read more >
Plaintiffs’ Attorney in Thole v. U.S. Bank Predicts Victory in Supreme Court
The Supreme Court will weigh in on the question of whether an adequately funded pension that is not in immediate danger of insolvency could have wronged participants and breached ERISA in the selection of poorly performing investments offered by an affiliate company. Read more >
U.S. Weighs In on Supreme Court Consideration of Pension Case
Both the U.S. Solicitor and the Pension Rights Center argue that current funded status of a defined benefit (DB) plan is not a proper measure for whether the participants have a right to sue for breaches of fiduciary duties and prohibited transactions under ERISA. Read more >
Supreme Court Hands Back Puerto Rico Catholic Pensions Case
The high court decided that a court in Puerto Rico had no jurisdiction to order the seizure of property from Catholic entities in order to fulfill a court judgment to pay $4.7 million in pension benefits. Read more >
Supreme Court Passes on Review of Putnam Burden of Proof Case
Putnam had asked the high court whether the plaintiff or the defendant bears the burden of proof on loss causation under ERISA to determine “whether showing that particular investment options did not perform as well as a set of index funds selected by the plaintiffs with the benefit of hindsight, suffices as a matter of law to establish ‘losses to the plan.’” Read more >
Supreme Court Denies Petition in SunEdison Stock Drop Case
The plaintiff in the case asked the court to to answer “whether Dudenhoeffer’s ‘context-sensitive scrutiny of a complaint’s allegations’ can be met where a court” makes certain presumptions. 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.

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.
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.
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
Many Near-Retirees Don't Understand Social Security Benefits

More than one-third failed a basic Social Security quiz administered by MassMutual.

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