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IRS Provides Relief for Participant Elections Required to Be Witnessed
Notice 2020-42 provides temporary relief from the physical presence requirement for any participant election witnessed by a notary public in a state that permits remote notarization or witnessed...
Schwab Offers Integrated Solution for Advisers to Manage HSAs
The firm has teamed up with health care financial services providers Optum Bank and Discovery Benefits.
Phillips 66 ERISA Lawsuit Dismissal Affirmed by 5th Circuit
The underlying allegations in the case involve the 2012 spinoff of Phillips 66 from the ConocoPhillips Corp., a large oil and gas company.
DOL Issues Guidance About Private Equity Investments in DC Plans
An Information Letter addresses private equity investments as a component of a professionally managed asset allocation fund and outlines what plan fiduciaries should consider.
As CIT Market Expands, More Get Coveted Tickers
Collective investment trusts are becoming more transparent; case in point, Hand Benefits & Trust Co. has gone live with more than 30 CIT tickers on the Nasdaq Fund...
The Financial Services Industry Can Help Tackle Economic Inequality
Each U.S. household in the bottom half of the wealth distribution has only $20,000 of net worth, on average, a figure that represents less than 0.1% of those...
First Hints of Potential New DOL Fiduciary Rule Emerge
The Department of Labor has submitted a draft regulation to the Office of Management and Budget.
Plaintiffs’ Attorneys: Leaving Pension Policing Solely to DOL Won’t Work
Part of the Supreme Court’s reasoning in affirming two lower court rulings in Thole v. U.S. Bank is the fact that the Department of Labor polices pension plan...
BCG Launches Customized Buyout Price Monitoring
The firm is also introducing a new corporate brand and website.
Advisers Giving Back: Grant Arends at intellicents
Some people are called to give back and invest in their local communities, while others are compelled to go farther afield.
Emory University to Pay $16.75 Million to Settle 403(b) Excessive Fee Suit
The agreement also calls for the university to issue an RFP for recordkeeping services and engage an independent consultant to review investments, among other things.
Supreme Court’s Thole v. U.S. Bank Ruling Has Constitutional Implications
Normally the Supreme Court strives to structure its rulings with the narrowest possible scope and implications, but that is not always the case.
IRS Moves Certain Deadlines for DB, 403(b) Plans
The agency says it is postponing deadlines for certain time-sensitive actions required by these plans and others because of the COVID-19 emergency.
Split Supreme Court Rules in Thole v. U.S. Bank; Major Implications for Pensions
The case is expected to help determine whether the millions of Americans whose pensions are held in defined benefit plans have the right to sue the fiduciaries of...
Retirement Industry People Moves
TRA adds newest regional sales consultant; Mercer selects responsible investment leaders; Newport acquires TPA business at Huntington National Bank; and more.
Lawsuit Calls Into Question Reasons for Fund Changes
Plan participants allege prohibited transactions between a plan sponsor and its investment manager relating to a revamp of the plan's investment lineup.
CFP Board Outlines Enforcement for Revised Ethics Code
The board will begin enforcement of the Code of Ethics and Standards of Conduct on June 30.
Retirement Plan Cyberfraud Suit Moves On With Claims Against Both Parties
A federal judge previously moved forward ERISA claims against retirement plan providers and has recently allowed for a counterclaim by the providers against the plan sponsor.
John Hancock Retirement Unveils Two Digital Tools
They are designed to help financial professionals better serve clients in the current digital environment in light of COVID-19.
Arizona Is Latest State to Approach New Annuity Regulations
The state is following in the footsteps of Iowa, which earlier this month adopted a regulation to require annuity agents to act in the best interest of their...