PLANADVISER Weekend Newsdash
Week ending July 31st, 2020

Greetings loyal readers! Here at PLANADVISER Magazine, we are lucky to receive a regular flow of guest bylines written by some of the leading attorneys and executives in the retirement plan services industry. Appearing both in print and online, these guest articles are a fantastic complement to our normal editorial coverage. Collected below are some of our most recent guest bylines. We hope you find them helpful and consider sharing some of what you read with a client or colleague. Stay well!

Editor's choice
Client Relationship Summary
Form CRS must be delivered to a “retail investor.” There are two components to the definition of retail investor—that the investor: 1) must be a natural person or his/her legal representative, and 2) seeks to receive or receives services primarily for personal, family or household purposes. Read more >
Evaluating Reg BI Compliance
In a Risk Alert published by the Office of Compliance Inspections and Examinations (OCIE), that agency announced how it will be immediately investigating firms to evaluate Reg BI compliance.  Read more >
An Uptick in Customer Arbitration?
When there is a downturn in the markets, claims against broker/dealers (B/Ds) and investment advisers tend to increase. For example, 8,945 arbitrations were filed in 2003 in response to the declining markets associated with the “tech wreck.” As markets recovered, claims lessened and reached a low of 3,238 in 2007. In 2009, however, 7,137 arbitrations were filed, in the aftermath of the Great Recession. Read more >
Prepare to Meet the Needs of the Workforce of the Future
The way in which companies structure their remotely distributed workforces will depend on the financial consequences of the pandemic, the impact on corporate culture and other factors, such as the prevalence of gig work. Read more >
Consider How CITs Can Fit Into Your Practice
Collective investment trusts (CITs) can help clients address fee pressures, support an increased focus on fiduciary obligations, provide a means to build white-labeled investments and more. Read more >
Be Stronger in the Recovery
Todd Kading, president and co-founder of LeafHouse Financial, discusses the importance of flexibility and innovation when the tough times arrive. 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.
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.

The Most Common Retirement Plan Testing Mistakes

By alerting plan sponsors to the issues they see most often, advisers can help their clients navigate IRS testing rules.

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