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.

Editor's choice
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
GKN Latest to Face Scrutiny Over GoalMaker Service

Though its GoalMaker portfolio management solution features prominently in the plaintiffs’ allegations, Prudential is not a party in the case.

Older 401(k) Participants Moving to TDFs More So Than Younger Participants

Participants in their 50s and 60s are using TDFs more than they have in the past, according to a new EBRI and ICI report.

New Benartzi Paper Dissects Narrow Framing Phenomenon

Would you accept a bet in which you win $200 if a coin lands on heads and lose $100 if it lands on tails? What if you could play twice?

DOL Provides Transitional Relief for Investment Advice Rules

A newly issued Field Assistance Bulletin provides that investment advice fiduciaries now have until January 31, 2022, to comply with the impartial conduct standards in the fiduciary prohibited transaction exemption announced at the end of 2020.

Retirement Industry People Moves

TIAA appoints chief brand and demand generation officer; BDO USA adds Lowery Asset Consulting; Morgan Stanley Investment Management bolsters sales leadership team; and more.

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