In-depth Coverage of the DOL's Fiduciary Rule Proposal
|
Newsletter Sponsor Cutting edge software for today's retirement industry...
In This Issue
In-depth Coverage of the DOL's Fiduciary Rule Proposal
A First Look at the DOL's Revised Fiduciary Rule Summary: U.S. Secretary of Labor Tom Perez introduced the DOL's proposed new fiduciary rule which will expand the types of retirement advice covered by fiduciary protections. Here is our first look at the proposal.
Source: 401khelpcenter.com
Executive Summary on the DOL's Fiduciary Rule Proposal Summary: The Department of Labor's anticipated rule on conflicts of interest (aka, the Fiduciary Rule), is now available. Fi360 has prepared this five page an executive summary covering the basics of the rule.
Source: Fi360.com
DOL Proposes Major Changes to Fiduciary Advice Definition Summary: This six page paper was prepared by the Groom Law Group. It contains an executive summary of the proposed regulation as well as an overview and observations.
Source: Groom.com
The Regulatory Impact Analysis of the DOL's Fiduciary Definition Proposal Summary: This three page "client alert" was prepared by Groom Law Group and provides a summary of the regulatory impact analysis of the Proposed DOL Regulation on the definition of "fiduciary" under section 3(21) of ERISA.
Source: Groom.com
DOL Fiduciary Rule to Revamp Regulation of Advice to Plans and IRAs Summary: Reproposal would broaden the fiduciary definition, narrow exceptions, and substantially revise prohibited transaction exemptions applicable to current and newly covered fiduciaries. Read an overview by the law firm Morgan Lewis.
Source: Morganlewis.com
Analysis: Watering Down the Fiduciary Standard? Summary: Ron Rhoades writes, "Both fiduciary and non-fiduciary advocates are likely to find some language that appeases them in the Labor Department's new Proposed Rule to greatly expand the application of fiduciary duties to those who provide invest. advice to most qualified retirement plans and IRA accounts, but both sides will also find language which causes much concern."
Source: Financial-planning.com
Broker-Dealers Tumult if DOL Fiduciary Plan Goes Through Summary: Retirement plan experts predict a major shakeup in the way broker-dealers do business with small retirement plans and IRAs -- all thanks to a prohibited transaction exemption in the Labor Department's new fiduciary duty proposal.
Source: Investmentnews.com (free registration may be required)
Chart - Revisions to Existing PTEs Summary: This is a seven page chart prepared by the Groom Law Group that outlines the proposed revisions to existing prohibited transaction class exemptions under the DOL's re-proposed regulation on the definition of "fiduciary."
Source: Groom.com
403(b) Plans
The EPCRS Changes and Their Impact on 403(b)/457(b) Plans Summary: The IRS recently updated the Employee Plans Compliance Resolution System, a means to correct plan defects. Michael Webb examines the changes made to EPCRS and discusses their specific impact on 403(b)/457(b) plan sponsors.
Source: Ntsa-net.org
Fiduciary and Plan Governance Material
Why Employers Need a Gap Analysis Summary: Plan sponsors and fiduciaries have a responsibility to ensure that ERISA-covered plans are administered in compliance with applicable law. Conducting a gap analysis helps to ensure that plans are being administered in accordance with ERISA and the Code. A gap analysis can also ensure that the plan operates more efficiently, and, as a result, can help to minimize plan costs.
Source: Wagnerlawgroup.blogspot.com
Regular Monitoring and Correction of Retirement Plans Can Reduce Correction Costs Summary: Spring clean your company's retirement plan operations by confirming that your company's plan is operating in accordance with its terms and in compliance with IRS and DOL rules. Both agencies offer compliance and correction programs to companies with retirement plan failures. Such programs reward an employer who can detect and correct retirement plan failures early.
Source: Quarles.com
Documenting a TDF Selection Process Is Key Summary: The top factor for plan sponsors to have in place is a process to support the decision-making process of evaluating and choosing a target-date fund. Plan fiduciaries need a complete grasp of the vulnerabilities of their target-date strategies, and sources recommend tools and a documented process.
Source: Planadviser.com
Insight: Studies, Research and White Papers
Boomers' Confidence in Secure Retirement Sinks to Five-Year Low Summary: The Insured Retirement Institute released a new research report that found Baby Boomers' confidence in having sufficient savings to last throughout retirement has dropped to a five-year low. Declining each year since 2011, the first year this study was conducted, the report found only 27 percent of Boomers are highly confident their savings will last.
Source: 401khelpcenter.com
Employers Offering Financial Wellness Programs Becoming the New Normal Summary: The vast majority of companies (83 percent) today feel a sense of responsibility for the financial wellness of their employees, impacting the benefits, resources and financial education they offer, according to the latest Bank of America Merrill Lynch Workplace Benefits Report.
Source: 401khelpcenter.com
Institutional Investors Adopting Social Media Platforms for Investment Information Summary: Social media is joining traditional financial news media as a key source of information used by institutional investors in their investment processes. A new study from Greenwich Associates reveals that almost 80% of institutional investors use social media as part of their regular work flow.
Source: 401khelpcenter.com
Items of Special Interest to Service Providers
Worried About Fiduciary Rule? Two Options for Brokers Summary: As we enter the public comment period and the debate continues to unfold on the new DOL fiduciary rule, article suggests two things 401k professionals and advisors need to keep in mind.
Source: Financial-planning.com
Six Core Components of Your 401k Business Plan Summary: Building a business plan to guide your 401k sales and services activities will improve your probability of achieving your goals. This article is to focus on the six core components your business plan should include.
Source: Markleyactuarial.com
Target-Date Funds
The Unintended Consequences of Prioritizing One Risk in Target-Date Design Summary: Learn more about the risk/reward tradeoffs that come when a target-date manager focuses on one specific risk rather than managing risk dynamically.
Source: Jpmorganfunds.com
Compliance and Regulatory Related
Canada: Changes to Federal Pension Benefits Standards Act Regulations Summary: The Canadian federal government finalized amendments to the Pension Benefits Standards Act Regulations addressing six issues. Changes were enacted on April 1, 2015, with exception of investment rule changes that take effect on July 1, 2016.
Source: Xerox.com
Marketplace News Firm Introduces Alternative to 401k Hardships and Loans Practice Management Experts Join Envestnet MassMutual Eyes DCIO Growth Opportunity REDW Forms Alliance Benefit Group Southwest Broadridge Closes on Retirement Business Acquisition Manulife Completes Acquisition of New York Life's Retirement Plan Business
This eNewsletter is a digest of information published by a variety of web-based sources on 401k and related issues and is published as a service to our users. 401khelpcenter.com, LLC is not the author of the material unless specifically noted. Articles are copyrighted to their publishers. If you believe that your work has been copied in a way that constitutes copyright infringement, please contact the source site immediately. All links were tested before this eNewsletter was e-mailed to you to ensure that they are still functional, but publishers do move or delete articles. Therefore, we can't guarantee that the links provided will remain operational. 401khelpcenter.com, LLC does not endorse and disclaims any and all responsibility or liability for the accuracy, content, completeness, legality, or reliability of the material linked to in this newsletter. Reliance on this material should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. THIS NEWSLETTER IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE INVESTMENT, TAX, ACCOUNTING OR LEGAL ADVICE. Copyright © 2015 by 401khelpcenter.com, LLC. All rights reserved. No reproductions without prior authorization, but you are free to email this copy (in its entirety) along to colleagues or clients. This newsletter may not be posted to any website. 401khelpcenter.com, LLC
|
