PLANADVISER Weekend Newsdash
Week ending July 17th, 2020

Greetings loyal PLANADVISER readers! Over the past several months it has become a major part of our editorial mission to help the retirement planning industry come to terms with the challenges of the coronavirus pandemic. In that spirit, we offer below a recap of the most important commercial, regulatory and legislative actions taken by our political and industry leaders. We hope you find our coverage helpful and consider sharing some of what you read with a client or colleague.

Editor's choice
Wave of Coronavirus Hardship Distributions Still Building
Only 5% of respondents to a new survey have withdrawn from their retirement accounts, but another 7% said they plan to do so in the coming weeks. Read more >
IRS Expands Coronavirus Loan, Distribution Relief
The Internal Revenue Service is expanding the categories of individuals eligible for special loans and distributions and providing updated guidance on the tax treatment of these distributions and loans. Read more >
IRS Actively Seeking Out CARES Act Fraudsters
Some criminals are using fake URLs that appear to be from the IRS and phishing attempts to get money from taxpayers. The IRS also noticed early fraudulent attempts to get Paycheck Protection Program (PPP) loans. Read more >
Planning for Clients’ Health Care Expenses in Event of a Layoff
Mark Waterstraat, president of consumer solutions at Alegeus, offers simple steps to coach clients through managing their health care finances after a layoff. For example, did you know that individuals can use HSA funds to pay COBRA premiums tax-free? Read more >
Paycheck Protection Program Considerations for Advisers
Like any clients that have taken advantage of the Paycheck Protection Program (PPP), advisory practices must be careful about the provisions the Small Business Administration has set forth to make any payments forgivable. Read more >
QDIAs Have Evolved. They Will Again After the Coronavirus.
Many participants appear to be battled hardened from the Great Recession and are enjoying at least some measure of protection from well-diversified default portfolios. Read more >
MOST POPULAR STORIES
House Committee Advances Bill With Various Retirement Plan Provisions

The RISE Act would increase automatic cashout limits, enable employers to offer small financial incentives for retirement plan participation and simplify plan sponsor disclosure requirements, among other things.

Retirement Industry People Moves

North Pier adds senior consultant in Chicago; Natixis Investment Managers hires head of retirement and institutional business; Mesirow appoints managing director to oversee structured debt; and more.

Employees Favor Retirement Plans That Substitute Annuities for Bonds

A survey also found nearly half of employees prefer to have a mix of investments and lifetime income over either traditional pensions or investments alone.

NFP’s Wealthspire Acquires Private Ocean

Wealthspire’s leadership calls the acquisition “a significant opportunity to plant a flag on the West Coast and demonstrate our growing national scope.”

A 3.3% Withdrawal Rule Might Be More Sustainable for Retirees Going Forward

Considering low bond yields and high stock valuations, Morningstar re-examined the traditional 4% withdrawal rule.

rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2021 Asset International, Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850