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Considering New Uses for SDBAs Self-directed brokerage accounts could be the answer for meeting participants’ ESG investing desires and maybe guaranteed lifetime income needs. Reported by Art by Allie Sullberg Retirement plan participants are demanding environmental, social and governance (ESG) investment opportunities, and, recently, the Federal Thrift Savings Plan (TSP) announced it will make ESG funds available in a new mutual fund brokerage window for the plan. In addition, some investment consultants say private equity can improve participants’ outcomes, and there is a clear need for guaranteed retirement income options for participants. However, no clear regulatory guidance on how to include ESG factors in investment selection for retirement plans has been given; the Department of Labor (DOL) has sanctioned the use of private equity only in asset allocation funds, such as target-date funds (TDFs), for defined contribution (DC) plans. And despite pro ....
Industry experts say market volatility and cybersecurity issues could lead to new lawsuits. Reported by Plan sponsors should keep a close watch on retirement plan litigation, as the effects of COVID-19 might spark new lawsuits. The market volatility experienced in March and April, coupled with the cybersecurity risks of remote work, could position some employers to face litigation in the new year, industry experts say. Smaller businesses, which normally lack the resources to invest in multifaceted cybersecurity measures and are therefore susceptible to cyber breaches, may be at risk, says Jordan Mamorsky, an ERISA [Employee Retirement Income Security Act] litigation attorney at the Wagner Law Group. “Smaller plans have a harder time investing in more robust cybersecurity measures, just because of their resources,” he says. ....