PLANSPONSOR Weekend Newsdash
Week ending February 17th, 2017
Happy Friday, PLANSPONSOR readers! The week started out with the announcement of an acquisition of Aon Hewitt’s HR and Benefits administration business. Then we faced another development affecting the retirement plan industry—President Donald Trump’s Labor Secretary nominee dropped himself out of consideration. Trump seems to have reversed course with his newest nominee. In other news, just as one retirement plan provider agreed to settle a self-dealing suit over its retirement plan for employees, another provider was just charged with self-dealing. Finally, we get research from Willis Towers Watson about a new way of thinking about diversification in this new market environment. All this and more in this edition of PLANSPONSOR Weekend!
Editor's choice
DOL Secretary Nominee Backs Down
The day before his Senate confirmation hearing was set to kick off, Department of Labor (DOL) Secretary nominee Andrew Puzder withdrew himself from consideration. Read more >
Former NLRB Leader Could Fill DOL Secretary Role
Days after the surprise withdrawal of Andrew Puzder as President Trump’s Labor Secretary nominee, the White House is now confirming their new pick for the job, former member of the National Labor Relations Board R. Alexander Acosta. Read more >
New York Life Agrees to Settle Self-Dealing Suit
The lawsuit accuses the insurance company of offering its proprietary fund in its retirement plans when lower-cost options were available. Read more >
T. Rowe Price Latest Target of Self-Dealing Lawsuit
A lawsuit accuses T. Rowe Price and its affiliates of not only offering just proprietary funds in the company’s 401(k) plan, but only offering the highest-priced versions of those funds. Read more >
Market Environment Means a New Take on Diversification
The holdings in your portfolio should fluctuate for different reasons and in different environments, Willis Towers Watson says. Read more >
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Adidas Sued Over Excessive Fees for 401(k) Participants

Plaintiffs in the lawsuit argue that passive funds would have resulted in better returns net of fees that the actively managed funds offered in the plan.

(b)lines Ask the Experts – Proper Delivery Method for SPDs
Experts from Groom Law Group and Cammack Retirement Group answer questions concerning 403(b) plans and regulations.
Yale Sued Over Wellness Program ‘Penalty’

The lawsuit says the so-called “incentive” Yale offers for participating in the wellness program are in fact a “penalty” that violates non-participants’ right, and it notes that the Equal Employment Opportunity Commission (EEOC) withdrew the incentive portions of its wellness program rules.

Employees in Two States Miss Out on One HSA Benefit
Is this impacting health savings account (HSA) participation?
Some Help for Women’s Retirement Savings Gap May Be Coming

Some legislative proposals, such as the SECURE Act, may address challenges to retirement income adequacy women face, but there are also things retirement plan sponsors can do.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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