Category Archives: Fiduciary updates

Younger workers don’t want to sweat investment decisions

A recent survey from J.P. Morgan reveals that workers under the age of 30 want their employer to make financial decisions about their retirement savings! According to the survey, 69 percent of this younger group identify themselves as “do-it-for-me” investors, compared with 56 percent of those over age 30. And a whopping 82 percent want their employer to actually make their investment decisions for them (versus 73% for those over age 30)! Read more »

Legislative Updates: First Quarter 2017

THE DEPARTMENT OF LABOR (DOL) DELAYS FIDUCIARY RULE FOR 60 DAYS

On April 4, 2017, the DOL issued a final rule delaying the Fiduciary Rule until June 9, 2017. The rule also delays transitional requirements of the Best Interest Contract Exemption and other prohibited transaction exemptions to June 9, 2017. This delay may provide some relief for institutions trying to meet the previous deadline of April 10, 2017. However, given the short length of the delay of only 60 days, institutions need to make a quick decision to finalize their compliance plans or delay their compliance efforts until the DOL releases its analysis. Read more »

Department of Labor Delays Applicability of the Fiduciary Rule

At Arnerich Massena, we are proud that we have always been ahead of the curve on this issue, acknowledging fiduciary status since our inception and offering independent, unbiased advice to retirement plans. Regardless of the outcome of the review, we will continue to acknowledge our fiduciary status and work in the best interest of plan participants.

The Department of Labor’s (DOL) fiduciary rule was set to go into effect on April 10, 2017, but the DOL has announced that the rule has been delayed by 60 days. A Presidential Memorandum issued on February 3 requested that the DOL complete a comprehensive analysis of the rule and its impacts. This delay is intended to allow enough time to evaluate the regulation before it goes into effect. The new applicability date is June 9, 2017. Read more »

Arnerich Massena Publishes New White Paper – Retirement Plan Best Practices: Plan Design

Arnerich Massena is pleased to announce the publication of a new white paper, Retirement Plan Best Practices: Plan Design. This paper is the second of a five-part series outlining retirement plan best practices; the series began with plan governance and will also cover investment menu construction, plan monitoring, and participant education. In Plan Design, we examine the factors that plan sponsors should consider as fiduciaries when making decisions about plan design, looking at how other plans handle different options and identifying some best practices. Read more »

“Bringing Your Company’s Retirement Plan Into the Future”: Oregon Business Magazine Features Arnerich Massena’s Institutional Team

How do employers prepare for the future as they try to help employees save for their own futures? Arnerich Massena’s institutional team helps answer a few questions and provide guidance to retirement plan sponsors in the March issue of Oregon Business Magazine. With this issue highlighting Oregon’s 100 Best Companies to Work For, it’s a perfect opportunity to provide those companies with some advice on their retirement plans. Read more »

Department of Labor Proposes 60-Day Delay in Applicability of the Fiduciary Rule

At Arnerich Massena, we are proud that we have always been ahead of the curve on this issue, acknowledging fiduciary status since our inception and offering independent, unbiased advice to retirement plans. We will continue to acknowledge our fiduciary status and work in the best interest of plan participants.download movie The 5th Wave

The Department of Labor’s (DOL) fiduciary rule was set to go into effect on April 10, 2017, but it looks like that may be delayed. Following the Presidential Memorandum issued on February 3, the DOL has now proposed a 60-day extension of applicability to the rule to allow the organization time to complete the requested analysis. This would push the effective date to June 9, 2017, welcome news for financial services companies struggling to meet all of the requirements of the new regulations by April 10. Read more »

Presidential Memorandum Issued on the Department of Labor Fiduciary Rule

At Arnerich Massena, we are proud that we have always been ahead of the curve on this issue, acknowledging fiduciary status and offering independent, unbiased advice to retirement plans.

The Department of Labor’s fiduciary rule, finalized in April of 2016, was set to go into effect in April 2017, with some regulations effective January 1, 2018. But a Presidential Memorandum issued on February 3, 2017 may delay or even halt the regulation. The memorandum directs the Department of Labor to conduct a comprehensive analysis of the impact of the rule. If the “updated economic and legal analysis” determines that the rule is likely to harm investors or adversely affect Americans’ ability to gain access to financial advice, the DOL is instructed to publish for notice and comment a proposed rule rescinding or revising the fiduciary rule. The memorandum does not explicitly order a delay in the rule’s implementation, but it’s very possible that the review and analysis may require a delay. Read more »

Consultant Ryan Cunningham Discusses the Investment Line-up of the Future in a Video Interview with PlanSponsor Magazine

What are some of the key issues and trends retirement plan sponsors should consider when crafting the investment line-up of the future? If you haven’t had a chance to view it yet, take a few minutes to view this short video interview, in which Arnerich Massena consultant Ryan Cunningham, CAIA, discusses the answer to this question with Alison Cooke-Mintzer, editor of PlanSponsor Magazine. Read more »