The End of Plan Sponsors
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General Items Summary: Defined contribution plan sponsors see plenty of room for the system to grown, according to those sampled at Russell Investments' recent client conference, even to the point of making themselves redundant. Around 83% of Russell clients predicted plans may or will one day exist without sponsors. Source: Ai-cio.com When You Can and Cannot Convert 401ks to a Roth Summary: For some taxpayers, converting retirement accounts to Roth accounts can make a lot of sense. However, when that retirement account is a "qualified plan" like a 401k, executing a conversion may not even be possible. Source: Marketwatch.com Save On Taxes This Year With a Solo 401k for Small Businesses Summary: Tax planning is an important process for most of us, but even more so for small business owners and self-employed professionals. One of the popular strategies for small business owners is the Solo 401k plan. Source: 401khelpcenter.com Once All Powerful, Pimco Is a Fast Fading Superstar Summary: Once the world's largest and most influential bond fund, Pimco continues to fall from that stature. Its star has dramatically dimmed after its founder, the "bond king" Bill Gross, left Pimco almost a year ago. Source: Cnn.com
Fiduciary and Plan Governance Material A Growing Fiduciary Concern: Have "State-of-the-Art" Investment Menus Backfired? Summary: There's been a push on the part of some in the industry to add even more sophistication to employee's investment options. Article addresses the question, "Do these more complex investment options work for the typical retirement saver, or are they merely a result of service providers stretching their value-added proposition?" Source: Fiduciarynews.com Share Class Offerings Shift With Fiduciary Focus Summary: A majority of asset management firms are reforming share classes and approaches to fees, especially for the qualified retirement plan market. A focus on fairness and fiduciary fitness is driving many investment product providers to implement R6 share classes and other institutional offerings with zero revenue sharing. Source: Planadviser.com The Duty to Monitor Non-Fiduciary Service Providers Summary: This article discusses the duty to monitor non-fiduciary service providers. It focuses on two aspects of plan service provider arrangements that can make the monitoring process especially challenging: fees and revenue sharing arrangements. Source: Octoberthree.com Seven Things Fiduciaries Shouldn't Say in Court Summary: Fiduciaries and sponsors might want to note these incriminating statements in a notorious 401k court case. Article looks at seven examples of what not to say when under oath. Source: Benefitspro.com
Insight: Studies, Research and White Papers Three-in-Five US Workers May Need to Work Past Age 65 Summary: A new analysis from Aon Hewitt reveals that most workers will likely be working longer to save enough to maintain their standard of living in retirement. Source: 401khelpcenter.com Homemakers Are Not Off the Hook in Planning for Retirement Summary: Transamerica Center for Retirement Studies released a new report, "Homemakers Are Not Off the Hook: How Should They Be Planning for Retirement?", which offers perspectives on the retirement outlook of 1,600 self-described homemakers spanning 15 countries around the world. Source: 401khelpcenter.com Passive and Target-Date Trends in DC Plans Summary: There are two places where plan menus have expanded: target-date funds and passively managed options. This article illustrates these trends and provide context for plan sponsors evaluating such changes within their plans. Source: Captrustadvisors.com
Items of Special Interest to Service Providers FinCEN Proposes New Anti-Money Laundering Rules for RIAs Summary: The Financial Crimes Enforcement Network, a bureau of the US Department of the Treasury, just released proposed rules that would extend anti-money laundering requirements to RIAs. Source: Kattenlaw.com Summary: A new industry report finds upticks in both the number and average deal size of merger and acquisition activity among registered investment advisor firms. Source: Napa-net.org
Plan Education Do Retirement Plan Sponsors Need a Policy for Education? Summary: Retirement plan sponsors need a strategy for education, but should plan sponsors also adopt an education policy statement that outlines their goals and methods for educating retirement plan participants? Source: Plansponsor.com
Compliance and Regulatory Suing to Recover Benefit Over Payments? It May Not Be So Easy Summary: As plan audits have uncovered more and more payment errors, many plans have acted as if no time limits or other restrictions applied to their repayment demands. However, a recent decision involving a Pfizer pension plan illustrates that even though the case law has recognized a fiduciary's right to recover over payments, lawsuits against retirees who don't respond to demands for repayment may face some obstacles. Source: Pensionsbenefitslaw.com Employee vs. Independent Contractor and Retirement Plan Impact Summary: Normally, retirement plan sponsors would not be directly concerned with employment law, since such issues often have little effect on employee benefits in general and retirement plans in particular. However, plan sponsors, ERISA and non-ERISA alike, should always keep a close eye on the area of worker classification -- namely, employee vs. independent contractor. This article outlines differences under current law between and employees and independent contractors and explain the impact on various types of retirement plans. Source: Ntsa-net.org Provider Changes Can Pose Records Retention Issues Summary: Retirement plan advisers should help clients understand their rights and ability to access past records after a change in recordkeeper or TPA. Source: Planadviser.com Safe Harbor Plan Launch Deadline Closes In Summary: A safe harbor plan requires an initial plan year that is at least three full months, making October 1st the effective deadline for creating a new plan in 2015. Source: Planadviser.com
Marketplace News Voya Unveils Hybrid RIA Platform Henry Henkel Joins Cafaro Greenleaf as Director of Business Development Richard McHugh Joins PSCA as VP of Washington Affairs Conrad Siegel Launches an Income Planning Solution
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