What If the DOL Wrote the Rules of Golf?
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General Items What If the DOL Wrote the Rules of Golf? Abstract: The U.S. and British golf associations recently announced that significant changes are being proposed to make the rules of golf easier to understand, and the game less time-consuming and more fun to play. Imagine what would happen if the DOL was put in charge of writing the Rules of Golf. Source: 401khelpcenter.com Avoid Estate Plan Blunders: Pitfalls in Titling Assets and Beneficiary Designations Abstract: Certain assets, such as retirement accounts, have specific rules relating to holding, taxes and bequeathing ownership after your passing. The need is to match up titling and designations with your objectives and desires. Outright beneficiary mistakes and sub-optimal choices can be costly in time and expenses to you or your estate. Even worse, oversights and mistakes could lead to outcomes inconsistent with your wishes and affect family dynamics for years to come. Source: Calamos.com Americans' Position on Retirement Planning: The Shruggie Abstract: After reviewing six new surveys and studies from financial services firms and the U.S. government, the author decided that Americans' position on retirement planning could be summed up in, well not a word exactly, but an emoji: The Shruggie. Source: Forbes.com Fiduciary and Plan Governance Material Investment Policy Statements to Keep the DC Plan on Track Abstract: On the one hand, an investment committee that tries to manage its DC plan without an IPS is apt to lose its way. On the other hand, if an IPS is unclear or confusing, it can also lead to bad outcomes. Source: Callan.com Five Guiding Fiduciary Principles Abstract: Defined contribution plans find themselves in an increasingly complex and litigation-prone world. Therefore, it is important to debunk common investment misperceptions, and instead, underline what the real focal points for fiduciaries should be. Source: Troweprice.com Preparing Participants for the Next Market Downturn Abstract: The best time for plan fiduciaries to communicate to participants about how investment returns and market cycles work and the ongoing importance of proper diversification is not when a year like 2008 happens, but when the market is doing well (i.e., right now!). Source: Cammackretirement.com »» Click here for more Fiduciary and Plan Governance Material Insight: Studies, Research, and White Papers Lower Investment Fees Help Push 401k Fees Down Last Year Abstract: Data just published by the 401k Averages Book shows 401k fees declined in all sixteen market segments they track. In addition to total plan costs declining, they saw an across the board reduction in 401k investment fees. Source: 401khelpcenter.com What's the Difference Between a Recordkeeper and a Third Party Administrator (TPA)? Abstract: There are many parties involved with the management of a company's retirement plan. Although we hear certain terms being used, many times we do not understand exactly who does what. A common question is "what is the difference between the recordkeeper and the third party administrator"? Source: Brightscope.com The Emergence and Future of Plan Health Tools Abstract: These comprehensive resources communicate crucial plan health data, such as plan participation rate, average employee salary deferral rate, the number of employees eligible but not participating, and the number of participants with appropriately allocated portfolios. The tools often provide more holistic summaries of information and incorporate data visualizations, giving sponsors a more intuitive way to assess plan health than traditional reporting tools. Source: Corporateinsight.com »» Click here for More Studies, Research, and White Papers Court and Other Legal Issues Insperity Must Face Lawsuit Over 401k Fees, Funds Abstract: A lawsuit accusing human resources provider Insperity Inc. of loading its 401k plan with high-fee investment funds and paying itself excessive recordkeeping fees is moving forward. Source: Bna.com (registration may be required) Allergan Stock Drop Leads to Second ERISA Lawsuit Abstract: Allergan now faces another lawsuit by employees who claim an ongoing investigation into generic drug pricing caused them to lose retirement savings held in the drugmaker's stock. Source: Bna.com (registration may be required) TIAA Dodges Retirement Fee Lawsuit by University Workers Abstract: Teachers Insurance and Annuity Association of America dodged a lawsuit accusing it of charging excessive fees to participants in retirement plans sponsored by the University of Chicago and Nova Southeastern University. Source: Bna.com (registration may be required) »» Click here for more Court and Other Legal Issues State-Based Retirement Programs Senate Moves to Kill DOL's State, City Auto-IRA Rules Abstract: The Senate has moved to kill Obama-era retirement rules governing so-called auto-IRAs for states and cities, following similar action taken up in the House of Representatives in recent weeks. Source: Investmentnews.com (registration may be required) DOL's Fiduciary Rule DOL Issues Bulletin to Ease Confusion Over Near-Term Fiduciary Rule Compliance Abstract: Basically, the DOL said that regardless of what decision they make on the fiduciary rule -- whether to delay or not to delay -- they won't enforce violations and won't bring enforcement against firms for violations in the near term. Source: Investmentnews.com (registration may be required) »» Click here for more on the DOL's Fiduciary Rule Compliance and Regulatory Dispelling an Urban Legend: Participant Loans Do Not Result in Double Taxation Abstract: Service providers and advisors who claim that participant loan repayments result in double taxation do not see the full picture, so they continue to spread an erroneous urban legend. Source: Belfint.com IRS Can't Do It Anymore, So Law Firms Will Abstract: At least three law firms are stepping in to fill the void the IRS left when it ended the program that assures employers that their retirement plans are tax-qualified. Source: Bna.com (registration may be required) »» Click here for more Compliance and Regulatory Material Marketplace News Morgan Stanley and Ascensus Collaborate on Small Market Retirement Program Corrie Oliva Promoted to Senior Consultant at Arnerich Massena »» Click here for More Marketplace News
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