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Retirement Plans Newsletter July 23, 2019 |
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Webcasts, Conferences LinkedIn 201: Prospecting and Lead Generation
2019 Legislative Update
Anatomy of an Employment Agreement
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Discussions |
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This Newsletter:
BenefitsLink Health & Welfare Plans Newsletter:
Message Boards Digest:
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Fiduciary Breach Lawsuits: Asset-Based vs. Per-Participant Fees "A claim asserted by plaintiffs in many of the defined contribution plan lawsuits is that retirement plan fiduciaries allow recordkeepers to charge fees based on assets in the plan ... when they should charge a flat-dollar amount per participant.... The concept that all recordkeeper fees should be no more than $35 per participant for most large plans ... assumes that all recordkeepers provide exactly the same services for all plans.... The overriding message is that there is no right or wrong way to charge plan fees."
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[Advert.]
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SCOTUS to Review Third ERISA Case This Term "The Supreme Court's decision in this case ... could have significant implications for plan sponsors and plan fiduciaries.... The ruling could lead to an increase in participant litigation against fiduciaries of defined benefit pension plans if the US Supreme Court determines that participants have standing to bring such suits even when they suffer no actual economic harm (because the plans have sufficient funding to pay the participants' pension benefits)." [Thole v. U.S. Bank, N.A., No. 16-1928 (8th Cir. Oct. 12, 2017; cert. pet. granted
Jun. 28, 2019)]
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Actively Managed Funds Perform Well Through June "[N]ine of the top 10 performing funds this year through June 30, 2019, were actively managed. In fact, according to Morningstar, 49% of large-cap active managers beat the S&P 500 through June.... an all-index approach to investing will generally not be the best investment strategy for most investors. One major reason is tied to financial advisor fees."
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Ongoing Concerns for Plan Sponsors "[1] Assessing fees ... [2] Choosing the right plan providers ... [3] Boosting employee participation ... [4] Establishing cybersecurity measures ... [5] Understanding fiduciary duties."
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Essential Topics for 401(k) Employee Education Meetings "[1] Financial planning outside of retirement ... [2] The dangers of using retirement savings for something other than retirement ... [3] It's more than just saving for retirement ... [4] What happens when you leave your company? ... [5] Identity theft protection."
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[Advert.]
SPARK Forum - November 3-5, 2019 -- The Breakers, Palm Beach, FL
Join us at the retirement services industry's leading event for top marketing, sales, administration and record keeping professionals. Comprehensive agenda includes topics for Record Keepers, 401(k) Plan Providers, Financial Advisors and Cyber Security Professionals. |
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What Will Replace 'Fiduciary'? "[Although] it may cause more confusion, the SEC's new terminology has the advantage of being more understandable than the more jargon-like legalese of 'fiduciary.' 'Best interest, this term is easy to grasp for consumers and retail investors,' says [one investment manager].... One possible way to fill this void is to switch the focus of the service model.... We've already seen the high level of interest in 'financial wellness.' It represents a fresh change-of-pace to the nearly decade-old drumbeat of 'fiduciary.' "
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[Opinion]
"[F]rom 1979 to 2016, average incomes for working-age households rose 64% above inflation. Over that same period, average household incomes for retirees grew 104% above inflation. Put another way, in 1979 the average retiree household's income was equal to 73% of working-age households' incomes. By 2016, retiree incomes were equal to 91% of working-age households' incomes, despite retirees facing a lower cost of living, being more likely to have paid off their mortgages, and having smaller households to support."
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Press Releases |
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Scott Boyd Joins Principal as Head of Sales in Retirement and Income Solutions
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Match-E- Be-Nash-She-Wish Band of Pottawatomi Indians (Gun Lake Tribe) is Certified for Fiduciary Excellence
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Millions of American Workers Still Lack Access to 401(k) Plans
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Most Popular Items in the Previous Issue |
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Fidelity at Center of New Strategy for ERISA Breach Lawsuits
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H.R.397: The Rehabilitation for Multiemployer Pensions Act
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BenefitsLink.com, Inc.
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Lois Baker, J.D., President
David Rhett Baker, J.D., Editor and Publisher
Holly Horton, Business Manager
BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587. Copyright 2019 BenefitsLink.com, Inc. All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.
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