Retirement Plans Newsletter

July 23, 2019

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Jobs

Defined Contribution Account Manager
Nova 401(k) Associates
in Houston TX / Dallas TX / Austin TX / Scottsdale AZ / Telecommute

Retirement Plan Consultant
Independent Retirement
in Portland OR / Telecommute

Senior Pension Administrator
Primark Benefits
Telecommute

Sr. Paralegal
Hunton Andrews Kurth LLP
in Washington DC / Dallas TX / Houston TX

Retirement Analyst
Dunbar Bender & Zapf, Inc.
in Pittsburgh PA / Telecommute

Senior Retirement Analyst
Dunbar, Bender & Zapf, Inc.
in Pittsburgh PA / Telecommute

ESOP Administrator
Dunbar, Bender & Zapf, Inc.
in Pittsburgh PA / Telecommute

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Webcasts, Conferences

LinkedIn 201: Prospecting and Lead Generation
August 15, 2019 in GA
Worldwide Employee Benefits Network [WEB] - Atlanta Chapter

2019 Legislative Update
September 5, 2019 in MD
Worldwide Employee Benefits Network [WEB] - Baltimore Chapter

Anatomy of an Employment Agreement
September 12, 2019 WEBCAST
Trucker Huss

►See 130 Upcoming Webcasts and Conferences

►See 1547 Recorded Webcasts


Discussions

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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."
Cammack Retirement Group

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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)]
McDermott Will & Emery

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."
Lawton Retirement Plan Consultants

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."
PlanPILOT

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."
Chris Carosa, in Forbes

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SPARK Forum - November 3-5, 2019 -- The Breakers, Palm Beach, FL

Sponsored by SPARK

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.


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.' "
Fiduciary News

[Opinion]

Editor's Pick Fears of a Retirement Crisis Are Overblown

"[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."
American Enterprise Institute

Press Releases

Most Popular Items in the Previous Issue

H.R.397: The Rehabilitation for Multiemployer Pensions Act
Congressional Research Service [CRS]

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Lois Baker, J.D., President  loisbaker@benefitslink.com
David Rhett Baker, J.D., Editor and Publisher  davebaker@benefitslink.com
Holly Horton, Business Manager  hollyhorton@benefitslink.com

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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