401k Service Providers and Cyber Security: Questions to Ask
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Free Tools and Resources Available at 401khelpcenter.com A variety of checklists, guides, charts, samples, directories, and other resources to help you run and manage your plan or practice. Click here to check them out. In This Issue
Cyber Security Issues 401k Service Providers and Cyber Security: Questions to Ask Abstract: 401k plan fiduciaries have an obligation to secure and keep private the personally identifiable information of plan participants and beneficiaries. Part of this essential task is ensuring that plan service providers take cyber security preparedness and plan data protection seriously. Source: 401khelpcenter.com Podcast: Cyber Security and 401k Plans: Real or Theoretical Risk? Abstract: This podcast discusses the evolving world of cyber risk or cyber threats and how they can impact 401k and other employer benefits plans. Source: 401kfridays.com How to Manage Your Company's Cyber Security Policy Abstract: How can your firm protect itself from the growing number of cyber threats? It starts with exercising some online common sense. Here a few considerations to evaluate your company's security practices and processes. Source: fi360.com
403(b) Plans Legacy Investments in Higher Education: What Is a Plan Sponsor's Responsibility to Participants? Abstract: Even though a 403(b) sponsor may not have authority to move the legacy assets to a newly offered line-up of more prudently evaluated investments, they do have a responsibility to communicate the value of these options to the participants who hold these legacy assets. Source: Fiduciaryplangovernance.com »» Click here for More 403(b) Material
Fiduciary and Plan Governance Material Six Steps to Complying With the New Conflict of Interest Rule Abstract: Many plan fiduciaries are not accustomed to testing the regulatory compliance status of their vendors. Although the responsibility to verify a vendor's regulatory status is a challenge for plan fiduciaries, the six-step approach outlined in this 4-page paper can eliminate the guesswork and streamline the work involved. Source: Rolandcriss.com Podcast: Understanding and Monitoring Retirement Plan Fees Abstract: Jeremy Tollas, Senior Consultant with Plante Moran Financial Advisor's Institutional Investing practice, discusses the importance for sponsors to understand the fees in their organization's retirement plan, as well as ways to help monitor and document those fees on an ongoing basis. Source: Plantemoran.com »» Click here for more Fiduciary and Plan Governance Material
Insight: Studies, Research and White Papers Hispanic Workers Are Less Likely to Have the Opportunity to Participate in Retirement Plans Abstract: The lack of access to a 401k makes it hard for Hispanics to prepare for retirement and increases their reliance on Social Security and working in old age. Only a quarter of prime-working-age Hispanic families have retirement account savings and the median balance is just $22,000. Source: Epi.org »» Click here for More Studies, Research and White Papers
Items of Special Interest to Service Providers DCIO Assets Still Growing Strong, Reach $3.5T in 2016 Abstract: The tenth edition of Sway Research's annual in-depth study of DCIO distribution finds that asset managers remain committed to the growing DCIO market, despite pressure from passive management, as well as uncertainty brought on by the looming implementation of the DOL fiduciary rule. Source: 401khelpcenter.com Acceptance Building for Collective Investment Trusts and Liquid Alternatives Abstract: New research from Cerulli finds that CITs and liquid alternatives are gaining momentum for their potential to lower costs and reduce portfolio volatility, but obstacles still remain. Source: 401khelpcenter.com
Target-Date Funds Target-Date Fund Glide Path Evaluation: What Really Matters? Abstract: Given the importance of asset allocation decisions, plan consultants and advisors are increasingly seeing the value in fully understanding the philosophical underpinnings of the wide range of glide path designs available in the marketplace today. This article is intended to highlight key considerations plan fiduciaries may wish to incorporate into their glide path evaluation process. Source: Manning-Napier.com »» Click here for more on Target-Date Funds
Court and Other Legal Issues Wells Fargo Cross-Selling Scandal Spawns ERISA Class Action Abstract: Wells Fargo's month-long struggles continued Oct. 7th when a participant in the company's 401k plan filed a proposed class action challenging a 12 percent drop in the company's stock price following recent revelations of an illegal cross-selling scheme. Source: Bna.com (registration may be required) Neuberger Berman Fights Back Against 401k Lawsuit Abstract: Some large employers are facing lawsuits over the funds they offer to employees in their retirement programs, and a handful of employers have chosen to settle the claims. Neuberger Berman is not one of them. Source: Institutionalinvestor.com »» Click here for more Court and Other Legal Issues
DOL's Fiduciary Rule Fiduciary Rule Will Change DC Plan Fund Menus in 2017 Abstract: The US Department of Labor's Conflict of Interest Rule, commonly known as the fiduciary rule, will cause a surge in mutual funds being reviewed and replaced in employer-sponsored defined contribution (DC) retirement plans, even before the Jan. 1, 2018 deadline for full compliance. This is according to a recent Ignites Retirement Research survey of 251 elite plan advisors. Source: 401khelpcenter.com DOL Fiduciary Rule Will Trim 401k Advisers' Stable of Recordkeepers Abstract: Advisers to DC plans will likely trim the number of recordkeeping firms and asset managers they regularly use for DC business because of the Department of Labor fiduciary rule, mainly with an eye to cutting costs, according to a new study by Sway Research. Source: Investmentnews.com (registration may be required) »» Click here for More on the DOL's Fiduciary Rule
Compliance and Regulatory IRS Provides New Self-Certification Procedure for Accepting Late Rollover Contributions Abstract: According to Rev. Proc. 2016-47, retirement plan administrators and individual retirement account trustees may now accept late rollover contributions from individuals who self-certify that they qualify for a waiver of the 60-day rollover requirement. Source: Towerswatson.com Maintaining Retirement Plan Documents After Revenue Procedure 2016-37 Abstract: The presentation highlights key changes under Revenue Procedure 2016-37 and the consequential impacts on annual audits, plan drafting, choice of plan, existing plan administration, EPCRS and other various transactions. Source: Employeebenefitsblog.com »» Click here for More Compliance and Regulatory Material
Marketplace News Sentinel Benefits Names New CEO Plan Sponsor Consultants Partners With InHub Mike Reis Joins Ameritas as VP of Retirement Plans PSCA's Executive Director Tony Verheyen to Return to the Private Sector Newport Group Integrates With the fi360 Toolkit Envestnet Acquires Wheelhouse Analytics Integrated Retirement Expands Participant Communications Capacity »» Click here for More Marketplace News
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