Share Classes: Evaluating Expense Ratios and Revenue Sharing
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For more information, click here. In This Issue
Fiduciary and Plan Governance Material Share Classes: Evaluating Expense Ratios and Revenue Sharing Abstract: Retirement plan committees continue to be sued over the cost of 401k investments. Participants allege that they pay unreasonably high expenses, which reduces the returns and, ultimately, savers' retirement nest eggs. Fred Reish discusses a practical approach for retirement plan committees to use when evaluating 401k investment share classes. Source: Drinkerbiddle.com DC Plan Sponsors -- Are You Managing Your Fiduciary Duties? Abstract: Are you properly managing your DC plan? Here are some sample questions that you should be able to answer. Source: Xerox.com Best 401k Practices in a New Regulatory Environment Abstract: A new wave of 401k litigation and the DOL's impending conflict of interest regulations has the retirement industry aflutter. With so much activity in the realm of "fiduciary best practices," it is difficult to keep track of what has changed and what has remained the same. Source: Manning-Napier.com
403(b) Plans Research Examines Makeup of 403(b) Plan Designs Abstract: Study examines the elements of different 403(b) retirement plans, including automatic enrollment of employees into the plan, employer contributions, and participant loans. The report analyzes 403(b) plans covered by ERISA that had 100 participants or more and at least $1 million in plan assets. Source: Ici.org
Insight: Studies, Research and White Papers A Look at Access to Employer-Based Retirement Plans in the Nation's Metropolitan Areas Abstract: This 16-page report notes that more than 40 percent of full-time private sector workers say they lack access to either a pension or an employer-based retirement savings plan such as a 401k. This retirement plan access varies more among the nation's metropolitan areas than across states as a whole. Source: Pewtrusts.org Impact of Student Loan Debt on DC Retirement Plan Participation: Plan Sponsor Perspective Abstract: The Plan Sponsor Council of America released the results of its 2016 study assessing student loan debt and plan sponsors' response to the perceived notion that student debt affects employees' participation in company retirement plans. Report is 11-pages. Source: Psca.org A Retirement Wake-Up Call: 2016 Retirement Readiness Survey Abstract: This 60-page report captures a picture of how ready people are for retirement across the world. The survey trend line from 2012 to 2016 illustrates that many workers are not adequately preparing for their future retirement. While some progress has been made toward achieving greater levels of retirement readiness since 2012, the progress is coming too slowly to ensure that they will achieve the retirement income they will need in later life. Source: Transamericacenter.org
Items of Special Interest to Service Providers Five Operational Imperatives That Can Make or Break a 401k Plan Abstract: When evaluating operational imperatives that can make or break a 401k plan, it all comes down to attention to details and flawless execution. Consultants play a pivotal role in five key plan activities and areas of focus. Source: 401kspecialistmag.com Dealing With the New Fiduciary Standard Abstract: The new DOL fiduciary rules, including ERISA fiduciary labeling and how conflicts of interest are managed, will have a major impact on the industry. And these changes will certainly have implications for broker-dealers, RIAs and advisors on both the plan and individual retirement sides. Taking steps now to understand how new fiduciary rules will impact your model and what changes your practice may need to make will help you navigate this shifting industry landscape. Eight-page paper. Source: Pershing.com (registration may be required)
Court and Other Legal Issues Fidelity Faces ERISA Lawsuit Over 401k Brokerage Window Abstract: A proposed class action accuses Fidelity Management Trust Co. of breaching its ERISA fiduciary duties for allegedly receiving unreasonable compensation through its brokerage window feature and a kickback scheme with an invest.advice company. Source: Bna.com
DOL's Final Fiduciary Rule DOL Encourages 401k Participant Education Abstract: The widely anticipated final fiduciary rule from the DOL is here. As expected, the rule broadly expands the definition of fiduciary invest. advice, but also provides welcome flexibility for providing general education materials to participants without triggering fiduciary liability. That flexibility is welcome news given employers' interest in and demand for holistic financial wellness Source: Manning-Napier.com Who's a Fiduciary Now? Understanding the DOL's New Definition Abstract: The sky isn't falling, but in a very real sense the retirement world is changing with the release of the DOL's final regulation that more broadly defines who is an "investment-advice" fiduciary for purposes of ERISA. This is a 14-page review from the law firm Spencer Fane. Source: Spencerfane.com
Compliance and Regulatory New Overtime Rules May Affect Benefits Plans Abstract: The recently finalized FLSA regulations highlight the potential impact on salaries and wages for many organizations. In addition to the focus on bottom-line labor cost dollars, a further consideration for companies is any impact on benefits plans, such as eligibility for certain benefits, and changes in benefits levels, such as for retirement and life insurance. Source: Huffingtonpost.com DOL Advisory Council to Further Study Cybersecurity Abstract: The Department of Labor's 2016 Advisory Council on Employee Welfare and Pension Benefit Plans has announced that it is embarking on an in-depth study of cybersecurity as it applies to benefit plans. Source: Asppa.org IRS Checklists for Retirement Plan Documents Abstract: This is a list (with links) of IRS checklists for retirement plan documents categorized into subject matter packages that Employee Plans Specialists use when reviewing retirement plan documents. Plan sponsors can also use these packages as a review tool before submitting a determination letter application to the IRS. Source: Irs.gov
Marketplace News Jim Rothaus Joins TRA's Western Sales Team Asset International Acquires Market Metrics and Matrix Solutions Asset TV and Cammack Launch New Online TV Channel Edelman Names Former LPL Financial Exec CEO
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