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Target Date Funds

…DEFERRED INVESTMENT ALTERNATIVE (QDIA)? When a participant fails to make an investment fund choice for their 401(k) contribution, the plan fiduciary may be required to step in and make that decision, depending upon plan options. If the plan has approved QDIA, the plan fiduciary would…

2020: The Year That Was

…(IRS) and U.S. Department of Labor, not to mention some noteworthy moves when it comes to Environmental, Social, and Corporate Governance (ESG) investing and rolling over qualified plan loan offset (QPLO) amounts, among others. One other major development of note is the Securing a Strong…

Rapid Pace of Legislation in 2020 Could Be Eclipsed by This Year’s

…calling for a review of last year’s ruling by the U.S. Department of Labor on Environmental, Social, and Corporate Governance (ESG) investments – something we wrote about recently. Biden’s campaign website – still up as of his inauguration – lays out at length various positions…

A Few Notes on Bitcoin and Cryptocurrency-Where is it headed?

…convertible to dollars. Cryptocurrencies are generally unregulated and would raise multiple fiduciary and legal concerns for an ERISA benefit plan. Its short history precludes meaningful risk and return analysis. Overview of the Cryptocurrency Market According to Bianco Research, the size of the cryptocurrency market is…

A Brave New Digital World

…messages, and websites. Acting as a fiduciary for most of the clients we do business with in the ERISA 3(16) marketplace, we have had a keen interest in this topic for the past few years – and we are big proponents of the new rule,….

Everyone Into the Pool? Not So Fast…

…of 2019 (SECURE) Act. While it is a good thing to finally have this information in hand, there is still some concern that not everyone who wants to be a PPP should necessarily be one. A PPP acts as a PEP’s administrator and named fiduciary….

Pension, Retirement & Markets: 5 Key Trends to Watch in 2020

…rally What are possible risk factors Will “fundamentals” play a more significant role in 2020 Interest Rates The shape of the Treasury yield curve How might rates impact impact savers and pension sponsors The role and challenges of the Federal Reserve Fiduciary Standard How has…

Big Changes Expected in Form 5500 Reporting

fiduciary disclosures under 408b-2 Lots of fees are missing from the 5500 Disclosure loopholes are closing, including the ability to do a check-in-the-box disclosure about revenue sharing Only large health and welfare plans need a 5500 All health and welfare plans regardless of size will…

Second Thoughts About the SECURE Act

…the so-called “stretch” provision. Eliminating that option would generate significant tax revenue for the government (a good thing) while also establishing significant tax consequences for those beneficiaries (a not-so-good thing). There are also aspects of SECURE dealing with fiduciary responsibility that – as is often…

Financial Markets and the Economy: 5 Things to Look for in 2017

…Dodd-Frank, eliminating the Volcker Rule, reducing regulatory requirements for banks with favorable examination records and possibly postponing or amending new fiduciary rules for investment advisors. To the extent deregulation moves forward in 2017, banks may consider loosening lending standards while still maintaining strong capital bases….

Managing Money Market Reform

…explicitly allow funds flexibility in gatekeeping or NAV markdowns make their eventual use more likely, introducing an unacceptable risk to our fiduciary clients. In summary, we believe that offering government money market funds represents the most prudent response to money market reform, and we will…