PLANSPONSOR Weekend Newsdash
Week ending June 23rd, 2017
Hello, PLANSPONSOR readers! To quote a colleague of mine: “Providers had a good week in the courts.” Fidelity, Putnam and Voya all had wins in court challenges against them. In other news, an analysis from Wells Fargo finds that, by using some best practices, plan sponsors have moved the needle toward more plan participants taking action to reach an 80% income replacement goal, and another study reveals pre-retirees could use some help in developing a retirement income strategy. Enjoy this edition of PLANSPONSOR Weekend!
Editor's choice
Compliance
Judge Dismisses ERISA Suit Against Fidelity Stable Value Decisions
A judge in the U.S. District Court for the District of Massachusetts this week dismissed an Employee Retirement Income Security Act (ERISA) lawsuit filed against Fidelity Management Trust Company over the management and monitoring of a stable value fund offered to 401(k) plans. Read more >
Compliance
Court Rules for Putnam in Excessive Fee Suit
A district court ultimately found that since plaintiffs did not establish a case in which a particular fiduciary breach caused a loss to the plan, their arguments fail. Read more >
Compliance
Suit Challenging Voya’s Relationship With Financial Engines Dismissed
Voya Retirement Advisors was found not to be an ERISA fiduciary with respect to its compensation in an agreement with Nestle’s 401(k) plan. Read more >
Administration
Analysis Finds DC Plan Health Improving
Wells Fargo shares best practices it finds employers are using to help participants reach their income replacement in retirement goal. Read more >
Data and Research
Pre-retirees Unsure About Executing Retirement Income Strategies
Unlike their younger counterparts, individuals nearing or in retirement don’t have the luxury of long time horizons in which to grow their nest eggs. They are at a point where developing a strategy to sustain their assets and draw retirement income is critical. However, many lack the knowledge to do so effectively, according to a survey by the American College of Financial Services. Read more >
Share the news with a friend! Pass PLANSPONSOR Weekend along—and tell your friends/associates they can sign up for their own copy. Read more >
MOST POPULAR STORIES
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 alison.mintzer@strategic-i.com

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

Subscribe to NewsDash, click here.
To unsubscribe, click here.
BrightScope / CIO / FWW / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund