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A new blog post by Fred Reish (with help from some of his colleagues at Drinker Biddle) says it’s more complicated than you might think.The blog post starts by acknowledging that “some plans are not subject to the Rule, and some arrangements that are not actually IRAs are treated as if they were... READ MORE
The Oregon Treasury has unveiled a proposal to modify the Oregon State Retirement Program (ORSP).The proposal would create new rules and modify existing rules for the ORSP. Specifically, the rules: clarify the definitions in certain joint employment relationships; allow for non-payroll... READ MORE
While estimates of the size and growth of “gig employment” vary, there are several indications that gig work is here to stay, even though such work may have a destabilizing effect on personal financial security, a new survey shows.Noting that it conducted the survey to better understand the... READ MORE
Temperatures continued to rise in August, but the increase in average 401(k) balances cooled off a bit.Not that the hot streak abated much. According to the nonpartisan Employee Benefit Research Institute (EBRI), the average account balance for younger (age 25-34), less tenured (1-4 years) workers... READ MORE
A recent survey of fairly large plan sponsors suggests that after years of declining, recordkeeper fees plateaued in 2016 – and we’re leaving our reader poll open another week for you to share your experiences.For years, recordkeeping services – complex and difficult as they can be to provide... READ MORE
Labor Secretary Alexander Acosta will meet Sept. 5 with representatives of companies that oppose the Obama administration’s fiduciary rule, according to a published report.Politico Pro, citing two sources familiar with the matter, says the meeting at the Labor Department will include... READ MORE
A complaint seeking class action status alleges that an investment advice platform steered participants into high-cost retirement funds that paid excessive fees and revenue-sharing “kickbacks.”The suit, filed August 3, charges violations of both the Racketeer Influenced and Corrupt Organizations... READ MORE
Less than 24 hours after the American Retirement Association requested it, the IRS has granted relief to taxpayers affected by Hurricane Harvey.The relief provided in IRS Announcement 2017-11 matches what the American Retirement Association, parent of the National Association of Plan Advisors, had... READ MORE
The Labor Department says it won't enforce a provision of the fiduciary rule’s arbitration ban.The stance, published August 30 in Field Assistance Bulletin 2017-03, was first revealed in a brief filed in the U.S. Court of Appeals for the 5th Circuit in Chamber of Commerce v. Acosta, where the Labor... READ MORE
Uncertainty continues to brew in the land of the qualified retirement plan, as plan advisors weigh their options and consider changing to a new business model — all thanks to the shifting timelines of the new fiduciary rule established by the Department of Labor over the last year.But this... READ MORE
While a majority of plan sponsors report that they are highly satisfied with their plan advisors, a record number are actively looking to switch their advisors, according to new research from Fidelity.Now in its 8th year, the firm’s annual Plan Sponsor Attitudes survey found that 65% of plan... READ MORE
The Labor Department has made its proposed delay in the full application of the Best Interest Contract Exemption till July 1, 2019 official.Less than 48 hours after the Office of Management and Budget (OMB) completed its review of the Labor Department’s proposal to extend the transition period and... READ MORE
The ERISA consultants at the Retirement Learning Center Resource regularly receive calls from financial advisors on a broad array of technical topics related to IRAs and qualified retirement plans.A recent call with an advisor in Ohio is representative of a common inquiry involving 401(k) safe... READ MORE
The Office of Management and Budget (OMB) has made a quick response to the Labor Department’s request for a delay in the full BIC applicability date.In an update posted on the OMB site on August 28, the concluded action is noted as “Consistent With Change.” The OMB review, which frequently takes as... READ MORE
Published reports say that President Trump’s top aides and congressional leaders have made “significant strides” in shaping a tax overhaul – and yes, Rothification remains on the table.Politico, citing five sources familiar with the behind-the-scenes talks, reports there is “broad consensus” on... READ MORE
Watching the incredible, heart-rending coverage this past weekend of Hurricane Harvey’s devastation, I was reminded of a personal experience with nature’s fury.It was 2011, and we had just deposited our youngest off for his first semester of college, stopped off long enough in Washington, DC to... READ MORE
The American Retirement Association requested relief on Aug. 29 for taxpayers, plan sponsors and service providers adversely affected by Hurricane Harvey.“At this very moment, the remnants of Hurricane Harvey continue to cause significant damage along the Texas/Louisiana Gulf coasts,” write ARA’s... READ MORE
A recent survey of fairly large plan sponsors suggests that after years of declining, recordkeeper fees plateaued in 2016. What trends are you seeing in recordkeeping fees?For years, recordkeeping services – complex and difficult as they can be to provide accurately and consistently (not to mention... READ MORE
In the next 20 years, more than a million plan participants covered by 114 multiemployer plans could lose pension benefits, according to a recent study.The actuarial consulting firm Cheiron estimates that those plans are underfunded by $36.4 billion — they collectively have assets of $43.5 billion... READ MORE
MassMutual is launching a new website and tools to help financial advisors sharpen their capabilities to support retirement plan sponsors and participants.Home to MassMutual’s practice management tools dedicated to advisors who support retirement plans is a website, titled AdvisorAdvantage+, ... READ MORE
In a written response to a judge in litigation involving the fiduciary rule’s anti-arbitration provision, the Labor Department says the provision will “likely be mooted in the near future.”The letter (Thrivent Fin. for Lutherans v. Acosta, D. Minn., No. 0:16-cv-03289-SRN-DTS, letter to judge filed... READ MORE
Health savings accounts are projected to exceed $60 billion in assets among nearly 30 million accounts by the end of 2019, according to Devenir’s 14th semi-annual HSA survey of the top 100 providers in the market and follow-up research.The report confirms that the HSA market is undergoing... READ MORE
That’s the average amount a 65-year-old couple retiring this year will need to cover medical expenses (in today’s dollars) throughout retirement, according to the latest retiree health care cost estimate from Fidelity Benefits Consulting.Fidelity notes that while the 2017 estimate of $275,000 is... READ MORE
A federal district court has denied motions to dismiss claims of fiduciary breach and engaging in prohibited transactions in violation of ERISA in connection with the cancellation of a group annuity contract (GAC).The case (Dolins, et al., v. Continental Casualty Company, et al., U.S. District... READ MORE
We’ve received another thousand votes over the last week… and the top 10 topics list has shifted…As things stand now, the topic at the top of our unique voting tool tally is… (drumroll)…Serving the small plan space effectively That’s moved up from #4 in last week’s tally.But while there was... READ MORE

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