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Assessing the State of Trump’s EBSA
The Employee Benefits Security Administration is among the regulators with the most direct influence over the retirement planning industry. It gets a new leader at the end of...
Endowments and Foundations Also Carry Unrealistic Return Expectations
New data from CAPTRUST shows there is a continued misalignment between foundations’ and endowments’ expected returns, risk preferences and asset allocations.
Iowa Finalizes and Adopts Best Interest Standard for Annuities
“Iowans expect their financial professional to act in the consumer’s best interest when recommending an annuity,” says Iowa Insurance Commissioner Doug Ommen. “Iowa not only expects it, but...
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.
The Coronavirus Is Adding to U.S. Economic Inequality
One positive point in some otherwise sobering data is the role that defined contribution (DC) plans play in helping middle class Americans generate a stable financial future.
IRS Permits Digital Letter Ruling Requests
The revised policy, instituted in response to the coronavirus pandemic, will remain in effect until the revenue procedure is modified or superseded.
Investment Product and Service Launches
Northern Trust offers ESG analytics solution; Innovator announces May series of Defined Outcome ETFs; Capital Group launches fund invested in sectors of the credit spectrum; and more.
Lawsuit Says Host International Discriminated Against Tipped Employees in 401(k)
The complaint notes that the definition of compensation for deferral purposes in the plan document includes tips received.
Lawsuit Argues Fees Are Excessive for University of Miami 403(b)
The plaintiffs say there is additional evidence for their claims, “such as incorrect reporting on mandatory Department of Labor disclosures about the amount of administrative fees paid by...
SEC Says Advisory Firms May Have to Report PPP Loans
FINRA previously addressed reporting of Paycheck Protection Program loan forgiveness in its FAQs related to COVID-19.
Consultant Named in ESOP Buyback ERISA Lawsuit
One of the defendants in the case, the trustee who oversaw a questioned ESOP buyback transaction, was at the time allegedly working as the chief financial officer of...
The Coronavirus Crash Tax Diversification Opportunity
Every cloud has a silver lining. One opportunity presented by the recent market volatility caused by the coronavirus pandemic is the chance to create greater tax diversification in...
Retirement Plans Get Relief for Certain Requirements
The agency is relaxing timing rules for certain actions and notices if timing is affected by the COVID-19 outbreak.
Bill Calls for Temporary Increase in DC Plan Contribution Limits
A bill introduced in the House of Representatives would increase 415 annual addition and 402(g) elective deferral limits for the 2020 calendar year.
Trade Groups Call on Iowa to Align with Reg BI
At a digital hearing conducted by the Iowa Insurance Division, industry representatives asked the state regulator to grant a safe harbor for broker/dealers that comply with Reg BI.
Will Millennial Workers Switch to Emergency Savings?
Industry analysts predict the younger workforce may shift its focus towards emergency savings, instead of retirement, as a result of the COVID-19 crisis. Advisers can help with this...
Industry’s SECURE Act Progress Continues
Firms keep rolling out new lifetime income solutions even as the industry struggles to overcome the challenges of a pandemic.
Nearly Time to Comply with Reg BI
Some see the SEC’s Regulation Best Interest as “nothing new,” while others say it will be a game changer when it takes effect June 30. Likely the biggest...
Bear Markets, Pandemics and ESG Portfolios
Investment managers say evidence is already mounting to show an outperformance of ESG-themed portfolios during the coronavirus pandemic. Might that help their popularity in the U.S.?
$2 Trillion Stimulus Seen as ‘First Step’ to Fighting Recession
The real question as to when the economy will begin to recover, investment managers say, is when we can contain the coronavirus.