PLANADVISER Weekend Newsdash
Week ending November 13th, 2020

Greetings loyal PLANADVISER readers! With so many important and rapidly evolving national news stories playing out right now, it can be hard to keep track of more mundane matters like retirement plan litigation and regulations. Yet the fiduciary duties of prudence and loyalty remain paramount in the operation of tax-qualified retirement plans. With that in mind, collected below is a recap of some of the most important legal and regulatory developments of recent weeks. We hope you find the reporting helpful and consider sharing some of what you read with a client or colleague.

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DOL Announces Registration Requirements for Pooled Plan Providers
The rule implements the registration requirements for PEPs pursuant to the SECURE Act. Read more >
Retirement Industry Experts Concerned by ‘Prescriptive’ Income Projections
Creating a requirement for recordkeepers to provide lifetime income projections is a popular idea, but the EBSA’s proposed framework is seen by some as simplistic and potentially even misleading. Read more >
DOL’s Final ESG Rule Appears Slightly Softer Than Proposal
The final version of the regulation emphasizes the importance of using only ‘pecuniary’ factors in the assessment of investment options within tax-qualified retirement plans, rather than expressly limiting the use of environmental, social and governance themed investments. Read more >
What the SEC Thinks of Reg BI Compliance So Far
Staff members of the Securities and Exchange Commission share some words of wisdom for advisers and broker/dealers newly subject to the Regulation Best Interest framework. Read more >
IRS Announces Contribution and Benefit Limits for 2021
The limit on contributions by employees who participate in 401(k)s, 403(b)s and most 457 plans remains unchanged at $19,500. Read more >
Familiar Fiduciary Concerns Voiced as PEP Market Takes Shape
As with any type of innovation, it should be expected that the architecture, structure and governance of PEPs will likely change over time. Read more >
MOST POPULAR STORIES
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.
HUB International Running Full Steam Ahead on RIA Acquisitions
The aggregator expects it will announce several more acquisitions of leading retirement plan advisory firms this year and have a busy 2021.
A New World and New Opportunities for Alpha
Pandemic-driven volatility has once again highlighted the relative virtues of active and passive management.
Has the DOL Found an ESG Middle Ground?
George Michael Gerstein, an ERISA attorney with Stradley Ronon, dissects the DOL’s final rule regarding ESG investing in retirement plans, calling it a compromise that might be here to stay.
OMB Has Received a Final Fiduciary Rule From DOL

The sense of déjà vu associated with the filing of a finalized fiduciary rule by the Department of Labor is palpable, but one ERISA expert says this version could actually stick—for good—despite the pending change in administration.

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