Happy Friday, PLANSPONSOR readers! Breaking News: Blackstone is set to acquire the benefits and HR business of Aon plc. In other news, a court ruling has created even more confusion—if that’s possible—about implementation of the Department of Labor’s (DOL)’s fiduciary rule; researchers have suggested that expected low returns in the future, as well as longevity, will create a need for retirement plan savers to put away even more money; lawmakers have moved to block the DOL’s final rule on state-run retirement plans; and industry experts say nothing will change soon due to President Donald Trump’s executive order about the Affordable Care Act (ACA). Enjoy this edition of PLANSPONSOR Weekend.
Private equity funds affiliated with Blackstone have entered into a definitive agreement to acquire Aon plc’s technology-enabled benefits and human resources platform, currently part of Aon Hewitt. Aon Hewitt says this transaction sharpens its focus on delivering advice and solutions, accelerates innovation on behalf of clients and improves return on invested capital.Read more >
Despite an order by Trump to minimize the burden of the Affordable Care Act, industry experts say nothing will happen soon, and even after any repeals, plan sponsors may keep doing what they are doing.Read more >
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