Week ending July 1st, 2016 Happy Friday, and Happy 4th of July PLANPSONSOR readers! Retirement income was a hot topic in the news this week, as a fellow of the Society of Actuaries suggested a simple spend down rule and an analysis found wild swings in retirement income calculators. The Brexit vote last week hit the markets hard, but they have almost recovered. A new provider acquisition was announced. And, some interesting news came out of Washington and the courts, as the lawsuit that suggested retirement plan excessive fee suits were moving down market has been voluntarily dismissed by plaintiffs, an excessive fee suit was settled, the Supreme Court let stand a decision on State Street’s handling of GM stock, and the IRS officially ended its determination letter program. Enjoy this  edition of PLANSPONSOR Weekend!
Editor's choice Deals and People Ameritas to Acquire Guardian 401(k) Business At the close of the transaction, the retirement plans division of Ameritas will have assets under administration in excess of $10 billion.Read more > Compliance IRS Officially Ends Determination Letter Program There are only three cases for which a retirement plan sponsor with an individually designed plan may request a determination letter.Read more > Compliance Small Plan Excessive Fee Suit Voluntarily Dismissed A lawsuit that suggested retirement plan excessive fee suits were moving down market has been voluntarily dismissed by plaintiffs.Read more > Compliance Aegon and Transamerica Settle ERISA Self-Dealing Suit Under the terms of a proposed lawsuit settlement, Transamerica will have to make structural changes in the way it runs its own retirement savings plan, including changing how fees are calculated.Read more > Compliance Court’s Decision About State Street’s Handling of GM Stock Stands The U.S. Supreme Court denied a petition for writ of certiorari that questioned its logic in the case of Fifth Third Bancorp v. Dudenhoeffer.Read more > Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >
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