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September 1st, 2017

Searching for Answers

Want to know the drivers behind participant decisions? We asked. Read more >

Court Moves Forward Few Claims in NYU 403(b) Plans Case

In a lawsuit regarding two 403(b) plans offered by New York University, a federal judge has found that while plaintiffs have adequately pleaded certain claims, a number of the bases upon which they rely as support for other claims could not—even if proven—result in a favorable judgment. U.S. District Judge Katherine B. Forrest of the U.S. District Court for the Southern District of New York only moved forward certain claims of breaches of fiduciary duty of prudence under the Employee Retirement Income Security Act (ERISA). Read more >
ASK THE EXPERTS
Groom Law Group and Cammack Retirement Group will field your questions concerning 403(b) plans and regulations. Email rebecca.moore@strategic-i.com with Subject Ask the Experts

Employer-Sponsored Retirement Plan an Expectation of Millennials

Nearly seven out of 10 Millennials (69%) believe individuals have primary responsibility for taking steps to ensure they have a secure retirement, according to a survey of 1,200 investors from Capital Group, home of American Funds. However, a number of Millennials believe employers (13%) or the government (14%) have the most responsibility for ensuring people have a secure retirement. Millennials see access to a retirement savings plan as a basic expectation from employers. The generation also wants to make a social impact with their investments, the survey found. Read more >

Regulators Provide Relief for Hurricane Harvey Victims

The IRS is loosening hardship withdrawal and loan rules, and the DOL announced postponed deadlines for Form 5500 filing, among other things. Read more >

Fiduciary Rule Transition Period Extended by One Year

The new applicability date for the Department of Labor (DOL) fiduciary rule and its accompanying exemptions is January 1, 2019, according to a notice in the Federal Register. As the DOL lays out, the primary purpose of the proposed delay of full enforcement is to give the department the time necessary to consider possible changes and alternatives. Read more >

Record Number of Plan Sponsors Eye an Adviser Switch

Fidelity Investments announced the results of its eighth annual Plan Sponsor Attitudes survey, which revealed that a sizable majority of plan sponsors (65%) are highly satisfied with their plan advisers. However, similar to the last several editions of the survey, Fidelity reports that a record number of plan sponsors are actively looking to switch their plan advisers. Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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