PLANSPONSOR Weekend Newsdash
Week ending January 6th, 2017
Happy New Year, PLANSPONSOR readers! We find the new year can be a time of reflection, and we question how the industry trends in 2016 will inform 2017. Will holistic wellness solutions evolve this year? And, contributor Michael Barry provides a list of items he thinks the new Department of Labor (DOL) should undo and do. There is no sign of Employee Retirement Income Security Act (ERISA) litigation easing up, but at least one employer and plan provider has already obtained victory in a suit filed last year. In an important letter, the DOL expressed its opinion that prudent default investments in defined contribution (DC) plans can include elements of lifetime income. All this and more in this week’s PLANSPONSORWeekend! Enjoy!
Editor's choice
Benefits
The Evolution of Employee Wellness Programs
More employers are devising holistic wellness programs that address physical, mental and financial health; and technology could be the main driver in boosting participation.Read more >
Compliance
Multiple Recordkeepers at Heart of Excessive Fee Suit
The complaint says having different recordkeepers for a traditional DC plan and a 403(b) plan caused participants to pay too much for services.Read more >
Compliance
Claims in Excessive Fee Suit Against Prudential Tossed
A court found Prudential was not acting as a fiduciary and an employer’s 401(k) plan menu and use of an investment selection tool were appropriate.Read more >
Compliance
Court Denies Injunction of EEOC Wellness Program Rules
A federal judge found AARP did not prove irreparable harm to its members and is unlikely to succeed on the merits of its case.Read more >
Compliance
DOL Says Lifetime Income Elements Can Be Included in Prudent Default
In response to a question about TIAA’s Income for Life Custom Portfolios, the Department of Labor noted that in the preamble to its QDIA regulations it said other investments could be prudent defaults for DC plans.Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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