News Archive

Securities and Exchange Commission Chair Mary Jo White told the Senate Committee on Banking, Housing, and Urban Affairs on June 14 that her agency is indeed working on a fiduciary rule of its own, but will not be issuing it anytime soon. She made her remarks in testimony to the committee as part of... READ MORE

Collective trusts have seemingly become all the rage in plan investment circles, and for some very good reasons. But what of a 403(b) plan purchasing collective investment trusts (CITs)? In MarketBeat, Robert Toth discusses issues that need to be addressed concerning 403(b)s and CITs. READ MORE

The New Jersey Supreme Court on June 9 upheld a 2011 law that suspended cost-of-living adjustments for New Jersey Pension Fund retirees. The ruling reverses a 2014 ruling by a state appeals court against the measure. The state Supreme Court ruled in Burgos v. State of New Jersey (A-55-14) (075736... READ MORE

This year, there were three named tropical systems in the Atlantic Ocean by June 5 — the first time ever that there were three named storms by such an early date. And two of them made landfall in the United States. With the official Atlantic hurricane season just begun (the National Oceanic and... READ MORE

As expected (and promised), President Obama has vetoed Congress’ resolution that would have nullified the Labor Department’s fiduciary regulation. “The outdated regulations in place before this rulemaking did not ensure that financial advisers act in their clients’ best interests when giving... READ MORE

Another group of litigants has weighed in on the fiduciary regulation, claiming that will injure American workers, is “contrary to law, arbitrary and capricious, and violates the First Amendment.” This third lawsuit was brought by the American Council of Life Insurers, the National Association of... READ MORE

The IRS has released the third quarter update to its 2015-2016 Priority Guidance Plan. The update lists projects — including guidance relevant to retirement plans — it had announced at the outset of the period July 1, 2015-June 30, 2016; it also notes progress made during the period Oct. 1, 2015-... READ MORE

Suppose a client holds two traditional IRAs. They will be aggregated; thus, income taxes will be calculated on a pro-rata basis as though he had withdrawn from each of the IRAs. In MarketBeat, Ellie Lowder tells us whether there is any action that the client could take to change that scenario. READ MORE

Is it possible that individual 403(b) participant accounts can be considered individual contracts unless the third party administrator chooses to change the contract into a group contract? In Tech Talk, Ellie Lowder tells us. READ MORE