PLANADVISER Weekend Newsdash
Week ending May 15th, 2020

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.

Editor's choice
Recordkeepers Holding Steady on Staffing—So Far
DCIIA and SPARK surveyed members in early April with regard to the CARES Act and the effects of the coronavirus pandemic. Read more >
State Tax Treatment May Be Different for CARES Act Provisions
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.  Read more >
Tracking Providers’ Responses to COVID-19
Retirement plan recordkeepers have announced fee cuts, service expansions and more. Read more >
Financial Wellness in the Age of Pandemics
Pandemics are not only a public health crisis, but also a crisis of employee confidence. Tech-savvy advisers and employers can help. 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 >
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 >
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 >
MOST POPULAR STORIES
TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges

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.

DOL Announces Anticipated ESG Fiduciary Investing Rule

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.

Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns

The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers, or the ‘CPI-W.’

Retirement Industry People Moves

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.

Calmer Summer Yields to Volatile Fall for U.S. Investors

Individual and institutional investors were feeling better about market risks before getting a Delta-driven reality check.

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