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Week ending April 28, 2017
NOTE FROM THE EDITOR
Happy weekend, PLANSPONSOR readers! We finally have a new Labor Department Secretary, which may provide some clarity about the fiduciary rule implementation. In other news, the Internal Revenue Service (IRS) has clarified a piece of calculations for additional loan amounts to participants, and an analysis shows that using proposed IRS mortality table assumptions could cost defined benefit (DB) plan sponsors more. Plan sponsors are showing concerns about using while labeled funds in their investment lineups, and a study found Millennials are the most cost-conscious health plan participants. All this and more in this edition of PLANSPONSOR Weekend!
EDITOR'S CHOICE
Compliance
Labor Secretary Confirmation Could Bring Fiduciary Clarity
The U.S. Senate has quietly approved President Trump’s Secretary of Labor nominee, Alexander Acosta. Acosta, working with whomever is named to fill the role of head of the Employee Benefits Security Administration (EBSA), will oversee the implementation of the Department of Labor (DOL) fiduciary rule reforms championed by the Obama White House. Numerous attorneys, executives and analysts have told PLANSPONSOR they have been very eager to get to this point; without a Labor Secretary in place there has been a lack of clarity from within the DOL as to what the future of the rulemaking might be.
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Compliance
IRS Clarifies Computation of Plan Loans Available to Participants
A memorandum suggests there are two ways an employer can determine the highest outstanding loan balance in the past year when calculating the amount of an additional loan a participant can take from her defined contribution (DC) plan.
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Administration
Proposed Mortality Assumptions Will Increase DB Plan Costs
The Society of Actuaries estimates an increase in funding target liabilities, Pension Benefit Guaranty Corporation (PBGC) premiums and minimum required contributions.
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Investing
Plan Sponsors Show Concerns About Using White Labeled Funds
Plan sponsors participating in a recent PLANSPONSOR forum especially expressed concerns about transparency issues.
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Benefits
Millennials Most Cost-Conscious Health Plan Participants
For example, Millennials are more likely than the other generational cohorts to say they tried to find the cost of health care services before getting care.
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MOST POPULAR STORIES
Compliance
DOL Fiduciary Rule ‘Transition Period’ Will Pose Challenges
While the Department of Labor has signaled it could do another delay of the fiduciary rule prior to June 9, the more likely course is that it will in fact be implemented. 
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Compliance
Retirement Industry and Congress Talk Retirement Tax Reform
President Trump has pledged to introduce his tax reform proposals on or around April 26, adding to speculation about how tax-deferred retirement assets may be treated. 
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Benefits
Moving From a Wellness Program to a Well-Being Program
A holistic well-being program can increase employee engagement with work and the company and improve employer performance, according to speakers on a recent webinar.
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Deals and People
Retirement Industry People Moves
Willis Towers Watson expands Manager Research team; MassMutual appoints head of Strategy & Corporate Development; Mercer names Central market DC segment leader; and more.
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Research
2016 Recordkeeping Survey
The market's growth has manifested itself with more recordkeeping assets concentrated in the 20 largest providers. This trend also highlights the homogenization and commoditization of a growing number of recordkeeper services that were considered added value just ten years ago. Although providers in the 2016 PLANSPONSOR Recordkeeping Survey are ranked according to various criteria, none of the rankings can definitively answer the question of whether bigger recordkeepers are better recordkeepers.
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
Advertising: Paul Zampitella paul.zampitella@strategic-i.com
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