DOL’s Fiduciary Rule goes into effect Tuesday
Controversial investment advice exemption that aligns with SEC’s Regulation Best Interest being implemented as scheduled.
Employee Benefits
One-third of American workers don’t understand benefits selected during open enrollment
Voya survey finds lack of understanding of benefit features is highest among Millennials.
Amazon, Berkshire, JPMorgan ending ‘Haven’ joint health care venture
Three-year-old independent company Haven had promised to disrupt the way large corporations deliver benefits to their employees.
With slow health benefit cost growth in 2020, employers plan to invest in more support for employees
Average health benefit cost rose 3.4% per employee in 2020 according to new Mercer study.
Dramatic shift in retirement investment risk tolerance could be boon for annuities
Alliance for Lifetime Income study finds 1 in 4 Americans have a lower risk tolerance for future retirement investments because of the COVID-19 pandemic.
Preston Rutledge retiring as Assistant Secretary of Labor
As head of the Employee Benefits Security Administration, Rutledge was responsible for defined contribution plan regulation, reporting, oversight and enforcement, and also oversaw self-insured health plans, and the DOL fiduciary rule.
Congress finalizes $2 trillion coronavirus relief bill including retirement plan aid
Legislation allows limited, early withdrawals from retirement accounts, deferred RMD in 2020.
Role of Sales Reps growing in relevance to brokers, survey finds
LIMRA-OneAmerica findings reveal five-year climb in value of relationships between carrier sales representatives and employee benefits brokers.
Congress tacks SECURE Act to 2020 spending bill
House and Senate leaders include landmark retirement reform bill benefitting annuities in must-pass federal budget agreement.
Milliman report shows modest growth in individual disability insurance market
15 IDI market leaders record combined 2018 new premium sales of $401 million, a growth rate of 1.5%
