Greetings loyal PLANADVISER readers! Over the last two 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.
Participant communications about coronavirus-related distributions should include language that state tax treatment may vary, or that participants should check with an expert about what state taxes may apply.
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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?
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A new lawsuit suggests the individual advisory program TIAA clients were rolled into was significantly more expensive and generated hundreds of millions of dollars in fees for TIAA—without providing commensurate performance benefits.
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them will inevitably lead to better long-term risk-adjusted returns.
Impax appoints Ed Farrington as head of distribution for North America; Prudential forms new Prudential Retirement Strategies business; Northern Trust appoints Gary Paulin as head of global strategic solutions; and more.