With litigation ramping up, the courts are providing guidance that will help #fiduciaries protect their plans and themselves. Our experts get into the details on this topic in this month’s Qualified Plan Advocate Newsletter. Check it out!
Month-in-Review: July 2022
While markets reversed their downward trend for the month, inflation did not reverse its grind higher with CPI hitting the highest level in more than 40 years. As the inflation keeps climbing and the Fed has raised rates to combat this, labor markets have begun to show signs of loosening with jobless claims ebbing up. Check out the latest Month in Review.
The Advocate Newsletter: The IRS Throws a Curveball
Earlier this summer, the Internal Revenue Service (IRS) surprised the retirement plan world when it announced a new approach for narrowing the universe of plans seemingly worthy of its investigatory and audit resources. If your organization receives a letter under this new program, what will you do? Will you be prepared to respond? What if the answer is no?
Q2 2022 Quarterly Client Update
With inflation at multi-decade highs and inflation expectations inching up, the Fed has reprioritized its focus from supporting growth to quickly taming inflation. The Fed has stated (unequivocally, to our ears) that they would gladly risk a recession now via restrictive policy to avoid the bigger risk of higher and more entrenched inflation later. This is the right long-term policy, but means that economic growth will slow in the near term.
[WEBINAR] Making Sense of the Markets: A Guide for Plan Participants & Investors
The experts from Prime Capital Investment Advisors and Qualified Plan Advisors came together to present their quarterly webinar intended to help retirement plan participants and individual investors make sense of the market and economic news.
Month-in-Review: June 2022
With the Fed attempting to reign in overheating inflation via increasing interest rates, consumers begin to feel the pressure of the tightening financial conditions. The University of Michigan’s Consumer Sentiment Survey reached its lowest level in history. Check out the latest Month in Review.
Hughes v. Northwestern University: A Message to Fiduciaries from the Supreme Court
“That reasoning was flawed.” With those four words, the Supreme Court of the United States reaffirmed that retirement plan fiduciaries’ responsibilities apply independently to each investment option. Offering a lot of investment options does not eliminate the responsibility related to each of them. Offering some cheap investment options does not excuse expensive ones. Offering some stronger performers does not excuse poor performers. The bad stuff is not okay simply because there’s also some good stuff.
This paper, written by Matthew Eickman, J.D., AIF®, national retirement practice leader, underscores why plan fiduciaries must take notice of this ruling. It will help plan sponsors and their responsible plan fiduciaries to assess whether the ruling is a really big deal or no big deal at all. In either scenario, this White Paper provides a set of best practices for identifying, understanding, and mitigating related risks.
The Advocate Newsletter: The Fiduciary Fallout from Hughes v. Northwestern
This month’s article helps fiduciaries to understand the fallout from Hughes and to identify a series of best practices that reflect the lower courts’ application of Hughes.
Ready for PTE 2020-02 July 1 Enforcement? How QPA is Preparing
The Department of Labor’s Prohibited Transaction Exemption 2020-02 will begin to be fully enforced effective July 1. Not all advisors are ready, but Anthony Woodard, chief risk and compliance officer for Qualified Plan Advisors, isn’t worried.
Month-in-Review: May 2022
As the month went on, the volatility continued, but risk assets went on a final run towards the end of the month with almost all asset classes ending in the green for May. Check out the latest Month in Review.