DOL Releases Final Extension of Applicability Date

Help for 401k Plan Sponsors and Retirement Professionals

Newsletter for April 10, 2017

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In This Issue

DOL's Fiduciary Rule

DOL Releases Final Extension of Applicability Date

Abstract: On April 4, 2017, the DOL released for public inspection its final regulation extending the applicability date of the Fiduciary Rule from April 10, 2017 to June 9, 2017 as well as providing additional transition relief through the end of the year. While the final extension offers some relief, it is a mixed bag.


»»  Click here for more on the DOL's Fiduciary Rule

General Items

Bridge Your Engagement Gap -- Go Mobile

Abstract: The impact of mobile technology in every industry is profound and those of you in HR will see a significant impact on your field as well. Mobile technology is quickly being embraced by organizations to engage their workforce.


The Perfect Concoction for a Successful 401k Plan

Abstract: How do you make your 401k plan stand out to potential employees, boost retirement savings for participants, and keep your 401k plan provisions competitive? Here is a list of a few plan ingredients to include in your own plan.


Why Arguments of a Broken Retirement System Are Misguided

Abstract: The notion of widespread retirement shortfalls obscures the fact that the US retirement system works well for the majority of households, and deflects attention from those groups at risk in retirement, such as those retiring early because of poor health and those with limited work histories.


Fiduciary and Plan Governance Material

Fiduciary vs. Investment Manager: What's the Difference?

Abstract: In an environment of increased fiduciary litigation, advisors and other service providers have ramped up their marketing efforts to provide risk management services to plan sponsors. Such efforts have resulted in plan sponsor confusion as to the type of services that are being offered, as well as the type of services that are preferable.


PODCAST: Assessing and Improving Practices Regarding Investment of Retirement Plan Assets

Abstract: Verrill Dana Employee Benefits attorneys Eric Altholz and Chris Lockman provide a brief update on class action lawsuits alleging various breaches of fiduciary duties under ERISA pending against a dozen major universities. About 16-minutes.


»»  Click here for more Fiduciary and Plan Governance Material

Insight: Studies, Research, and White Papers

Work Redefined: A New Age of Benefits

Abstract: The enjoyment of life is beginning to take back its rightful place in the lives of employees. Today's employees put increased focus on happiness at work. They change jobs more often, their careers take unexpected twists and turns, and personal satisfaction can be as important as the numbers on their paycheck. Employers recognize these changing priorities, by investing in employee engagement, culture, and team development.


A Closer Look: What's Working in Workplace Financial Education

Abstract: This 26-page report has three sections beyond this introduction. Section II provides key findings. Detailed findings on the impact of workplace financial education and factors influencing financial education success are presented in Section III. Section IV concludes with practical recommendations for organizations to consider based on the results of the study.


»»  Click here for More Studies, Research, and White Papers

Items of Special Interest to Service Providers

NAPA Interactive Black Book: Recordkeepers

Abstract: Recordkeepers are perhaps in the strongest position of all providers since they control the technology and, perhaps more importantly, the data that runs DC plans. This interactive list, you'll be able to view and sort by primary market(s) served, the number of plans served, the number of participants served, and services available to advisors.


Court and Other Legal Issues

Peabody Energy Cleared in ERISA Challenge to Stock Losses

Abstract: Peabody Energy Corp. isn't liable to employees who allegedly lost retirement savings by investing in the bankrupt coal company's stock, a federal judge ruled.

Source: (registration may be required)

Court Finds Intel Alternative Investment Suit Time-Barred

Abstract: The lawsuit claimed the defendants breached their fiduciary duties by investing a significant portion of the plans' assets in risky and high-cost hedge fund and private equity investments through custom-built target-date funds.


BlackRock Accused of Self-Dealing With 401k Plan

Abstract: BlackRock Inc. and its subsidiaries are accused in a new lawsuit of loading the company's $1.56 billion 401k plan with its "expensive and poor-to-mediocre" in-house investment options.

Source: (registration may be required)

Jackson National Target of DC Plan Self-Dealing Suit

Abstract: The lawsuit says disclosures show the proprietary funds used in the DC plan lineup were far more expensive than comparable funds and underperformed their benchmarks.


Judge in Putnam 401k Suit Deals Potential Setback to Plaintiffs Using Vanguard as Fee Benchmark

Abstract: A federal judge has seemingly dealt a blow to plaintiffs bringing claims against financial services companies for excessive retirement plan fees, following a recent ruling in a self-dealing lawsuit involving Putnam Investments' 401k plan. Specifically, the judge shot down arguments that Putnam received excessive management fees from their proprietary mutual funds, saying plaintiffs' comparison of Putnam fund fees to those of Vanguard Group's passively managed funds was "flawed."

Source: (registration may be required)

»»  Click here for more Court and Other Legal Issues

Compliance and Regulatory

How to Deal With Canadian DC Pensions in an M&A Transaction

Abstract: In the course of a merger or acquisition, there are a number of balls to juggle, not the least of which are the changes to employees' benefits packages. The article discusses some of the key considerations when it comes to defined contribution plans.


EPCRS: Participant Loan Corrections

Abstract: Plan failures related to participant loans can be corrected using either Voluntary Correction Program (VCP) or Correction on Audit. Since plan loan failures are not operational failures, they cannot be corrected using the self-correction method.


»»  Click here for more Compliance and Regulatory Material

Marketplace News

AXA Rolls Out Open Architecture DC Program

Brody Geist Joins Securian's Retirement Plan Sales Team

Arnerich Massena Promotes Chris Van Dyke to Senior Consultant

OneAmerica Redesigns Retirement Readiness Website, Offers Enhanced Tools

»»  Click here for More Marketplace News

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