Trump 2.0: Some Predictions

The U.S. Department of Labor has issued new proposed regulations that provide guidance on the process that plan fiduciaries should use in selecting ESG investments. In issuing the proposed regulations the DOL targets ESG funds and creates new requirements–and hurdles-to the use of such funds.

On May 15 the Department of Labor finalized new “safe harbor” rules for the use of electronic media to provide documents required under ERISA. These new rules represent a potentially important easing of the efforts needed for plan administrators to meet disclosure obligations under ERISA. However, a more careful review of the rules raises significant questions about whether the new rules will live up to their potential.

The SECURE Act, signed by President Trump, contains a potpourri of provisions encouraging plan formation, use of annuities and adoption of safe harbor designs.

Employers need to develop strategies for dealing with state/federal tug-of-war over regulatory authority.

IRS Notice 2018-95 offers relief to employers who have incorrectly administered certain rules governing 403(b) plans. The Notice also provides additional planning opportunities.

A number of long-term market trends are creating significant pressure on bundled recordkeepers’ revenues. The recordkeepers are responding to these revenue pressures through a variety of ways that impose additional costs on plans and participants.

Disclosure on health care costs can help reduce those costs. That is not always true.

A recent IRS private letter ruling approved an innovative approach that allows employees to balance student loan repayments with saving for retirement.

A recent paper, The Market for Financial Adviser Misconduct (Journal of Political Economy, Publication Forthcoming), raises some important – and troubling – issues about how the financial industry treats advisers who engage in serious misconduct. The paper shows a number of different ways that adviser misconduct is concentrated – among repeat offenders, certain financial firms […]