"The primary aim of the amendments is to tighten up the conditions which prevent QPAMs that have engaged in certain bad acts from being able to rely on the exemption and to establish procedures that apply when a QPAM is disqualified. However, several of the proposed amendments are unrelated to this aim and would make substantial changes to other aspects of the exemption. These proposed amendments will affect every QPAM, not just QPAMs that have (or whose affiliates have) engaged in bad acts."  MORE >>

"While most of the focus of the literature about rollover recommendations has been on the DOL's fiduciary interpretation and PTE 2020-02, the SEC has, for the most part, harmonized its best interest/fiduciary requirements for rollover recommendations with those of the DOL. This article discusses the two-part harmony between the agencies, and the areas of disharmony."  MORE >>

"Enlist the help of a fiduciary plan advisor.... Consider both quantifiable and intangible factors.... Use the review to do a plan makeover.... If nothing is broken, at least do a request for information.... Weigh the potential savings with the costs of a recordkeeper switch."  MORE >>

"[The legislation [HR 6929] aims to restore retirement benefits to over 20,000 Delphi salaried retirees ... The new legislation aims to [pay benefits not already paid by PBGC] for those affected. The Congress members sponsoring the new bill estimate the 'owed costs' would total more than $1 billion."  MORE >>

"Although we are still awaiting the final legislation, Definiti expects to see sweeping changes to qualified retirement plans in 2022. These changes include greater incentives for employers to start plans and provisions that improve employees' retirement savings opportunities. Here's an overview of the significant provisions in SECURE 2.0 [along with] what these changes will mean to plan sponsors and the retirement benefits they're responsible for."  MORE >>

"While plan sponsors ultimately are responsible for choosing the investments available to participants, it seems ill-advised for one of the leading names in the world of finance to endorse the use of such a volatile, illiquid, and speculative asset in 401(k) plans -- which are supposed to be retirement savings vehicles defined by consistent contributions and steady returns over time."  MORE >>

"While private equity -- unlike Bitcoin -- passes the threshold test under ERISA of being a generally acceptable asset class to a broad group of investors, ... it is too opaque for most 401(k) fiduciaries to perform appropriate due diligence.... Moreover, it takes years for returns to be realized, and participants who leave early will have paid higher fees for nothing. Private equity simply adds unnecessary risk to retirement saving."  MORE >>