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SECURE Act Update: IRS Provides Required Minimum Distribution Relief
Among its many popular provisions, the SECURE Act extended the age at which one must begin making withdrawals from tax advantaged savings.
Investment Product and Service Launches
Lincoln Financial Group and Capital Group combine TDFs and annuities; Federated Investors, Inc. to rename brand and ticker symbol; and MSCI publishes principles of sustainable investing.
Closing of Schwab ETF OneSource Reflects Market’s Fee Concerns
Launched in 2013, the platform originally allowed clients to buy and sell about 100 exchange-traded funds with no online trade commissions. Since then, investors’ expectations about fees and...
Supreme Court Denies Petition in SunEdison Stock Drop Case
The plaintiff in the case asked the court to to answer “whether Dudenhoeffer’s ‘context-sensitive scrutiny of a complaint’s allegations’ can be met where a court" makes certain presumptions.
DCIIA and SPARK Share High Hopes for 2020 Collaboration
The SPARK Institute and DCIIA will work together to accelerate the development of retirement plan industry technology, prevent cyberfraud and study the potential role of blockchain.
Will 2020 Deliver Union Pension Funding Solution?
The American Federation of Musicians and Employers' Pension Fund is just the latest union multiemployer pension to appeal to the Treasury Department for permission to cut benefits.
Limited Supreme Court Ruling Issued in IBM v. Jander
The case has effectively been kicked back to the 2nd Circuit for a ruling on arguments the Supreme Court feels should be aired before a lower court.
Is the 20-Year-Old Amara v. CIGNA Case Finally Done?
A court disagreed with plaintiffs that CIGNA was not following orders when calculating remedies in the case, and the court has now denied a review of that decision.
Investment Product and Service Launches
CUNA Mutual adds Stadion managed account service to platform; MSCI creates new fixed income indexes; Transamerica decreases fees on two high yield bonds; and more.
Keeping Defaulted Participants on the Right Path
Roughly 80% of participants initially accept target-date funds when they are offered as the default investment, although acceptance declines to approximately 70% after five years of participation.
What to Know and Do Now About the SECURE Act
The majority of the law’s provisions are effective for plan years beginning after 12/31/2019, so preparations should already be underway.
Dodd-Frank Authors Say Reg BI Should Be Halted by Appeals Court
The 2nd Circuit has been asked to halt the implementation of the SEC’s Regulation Best Interest by a coalition of parties that now includes the lead sponsors of...
ERISA 403(b) Litigation Informs Plan Governance Practices
403(b) plan sponsors need help understanding their fiduciary duties, reviewing plan investment lineups and benchmarking fees.
Slocum Reaches Settlement in Banner Health ERISA Dispute
Case documents note the settlement has only been reached after “extensive litigation, lengthy discovery and protracted arm’s-length negotiations with the assistance of a national mediator.”
Schwab-TD Ameritrade Merger Challenged in Antitrust Lawsuit
The plaintiffs are concerned the combination of the two largest custodian companies in the U.S. will harm independent wealth managers as well as consumers, due to decreased competition...
Advocates Hope a New Decade Will Bring Continued ESG Progress
Experts says environmental, social and governance investing mandates are being boiled down to more practical, discrete risk areas, such as cybersecurity or board diversity.
Industry Enthusiasm, Questions About SECURE Act Timeline
In the near term, some of the more modest provisions of the SECURE Act will probably be the most influential, sources agree, but over time the industry impact...
IRS Publishes Required Amendments List for DC Plans
This year’s required amendments list touches on the new hardship withdrawal standards and a new regulation impacting certain hybrid defined benefit plans.
John Hancock Reveals Stable Value Guaranteed Income Fund
The Stable Value Guaranteed Income Fund can be a valuable option for the conservative portion of anyone’s portfolio, says Patrick Murphy, CEO, John Hancock Retirement.
Data Mine—December 2019
With each edition of the PLANADVISER Data Mine, we dig for the most actionable findings in the latest retirement plan industry research.