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
The Most ‘Outrageous’ ERISA Complaints Yet Filed?

One fiduciary insurance expert who has long been tracking ERISA litigation says a spate of new complaints filed in recent weeks are the ‘most outrageous’ the industry has ever seen.

The New Vesting Schedule Debate
Surveys and anecdotal evidence suggest plan sponsors are shortening their plan’s vesting periods, but there remains disagreement in the industry about whether vesting schedules may in fact disappear.
What Mutual Fund Fee Disparities Mean for Retirement Savings

Retail investors generally pay more fees in IRAs than in workplace plans, leading to higher costs and lower long-term savings.

Lawsuit Accuses Fiduciaries of Chasing Low Fees Without Regard to Performance

Microsoft is the latest target in a string of lawsuits over the performance of a popular TDF suite.

Meet SageView’s New COO, Fresh From Goldman Sachs
Jorge Bernal joins SageView as chief operating officer after serving as co-head of advisory services for Goldman Sachs Personal Financial Management, underscoring the retirement plan advisory industry’s increasing focus on ‘wealth and retirement.’
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