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    Reliance Trust News

    Will Tax Reform Break the 401(k) Plan System?

    On September 27, key tax reform leaders issued a “Unified Framework for Fixing Our Broken Tax Code” that could have a significant impact on the retirement plan system. The Framework doesn’t provide much detail, but several changes and the “pay … Continue reading →

    The Department of Labor issues a proposed a delay of the compliance deadline

    The Department of Labor proposed a delay of the compliance deadline for portions of the fiduciary rule, extending the date by 18 months — in other words until July 1, 2019. Industry expert Larry Goldbrum, senior vice president and director … Continue reading →

    Solutions for Meeting the DOL Fiduciary Rule Requirements

    Department of Labor Secretary Acosta declined to extend the delay on the Fiduciary Rule past June 9, 2017. Although controversy remains around the rule, firms must adhere to certain significant requirements immediately. Plan sponsors, plan participants and service providers – … Continue reading →

    It’s time Washington gives a clear signal on the fiduciary rule

    The Office of Management and Budget (OMB) completed its meetings with retirement plan industry stakeholders this week, and many anticipate an imminent announcement of a delay to the April 10 compliance deadline of the U.S. Department of Labor’s (DOL) fiduciary … Continue reading →

    Fiduciary Rule Delay Insights Paper

    Over the last few weeks the rumor mill has been hyperactive regarding whether the U.S. Department of Labor’s (DOL) fiduciary rule, also known as the conflicted advice rule, will become applicable as planned on April 10, 2017. After a great … Continue reading → | Download PDF →

    Overwhelmed by the Fiduciary Rule?

    You have every right to be. Every financial advisor that touches a retirement account is impacted by the DOL Fiduciary Rule. FIS has been tracking the development of the DOL’s fiduciary regulations project since 2010. We have full-time ERISA attorneys … Continue reading →

    View on Brexit

    “Brexit” (short for British exit) was a referendum posed to the voting citizens of the United Kingdom (U.K.) to decide whether to stay in the European Union (EU) or leave. The outcome of yesterday’s high turnout vote (72% of registered … Continue reading →

    Department of Labor to Release New Regualtions Today on the Definition of “Fiduciary” Under ERISA

    Later today, the U.S. Department of Labor (DOL) is expected to release new regulations that will change the more than 40-year-old definition of “fiduciary” under ERISA.  This is a major milestone in what has been a long and challenging undertaking … Continue reading →

    Recent Article in Bloomberg BNA – ERISA Plans Must Heed New Money Fund Rules, Lawyers Say

    In a recent article online in the Pensions and Benefits Blog of the Bloomberg BNA, Reliance Trust’s recent webinar, Changes in the Money Market Fund Rules: The Retirement Plan Fiduciary Response was mentioned in a discussion around what the new fund … Continue reading →

    Changes in the Money Market Fund Rules: The Fiduciary Response

    The SEC’s modifications to the money market fund rules won’t become effective for approximately a year, but plan fiduciaries should already be considering what to do about them. Almost certainly, they’ll need to make changes in their plan’s investments, and they … Continue reading →

    Westwood Trust Turns to FIS for Its Trust Operations & Technology Solutions

    Key facts Westwood Trust has selected FIS for trust operations and technology outsourcing solutions. Improved technology and operations outsourcing will empower Westwood Trust to achieve operational efficiencies and offer enhanced client services, while continuing to deliver on its fiduciary responsibilities. … Continue reading →

    Market Update – August 2015

    After years of market calm, primarily the result of easy money policies by the world central banks and a gradually improving economy, the global equity markets broke down last week. The U.S. market, as represented by the broad S&P 500 … Continue reading →

    FIS Provides Win-Win for INTRUST with Expanded Trust & Wealth Management Technology & Operations Relationship

    Key facts INTRUST Bank has extended and expanded its long-term relationship with FIS for trust and wealth management operations and technology outsourcing solutions. Operational efficiencies and consolidated vendor management plus improved client services represent a win-win for INTRUST and its … Continue reading →

    Reliance Trust Insights SEC Money Market Funds Changes

    Money Market Funds Changes – Implications for Plan Sponsors, Plan Administrators and Investment Fiduciaries New SEC money market funds rules that go into effect in 2016 will impact nearly every retirement plan that uses such funds as investment options or … Continue reading → | Download PDF →

    Reliance Trust Insights United States Supreme Court Rules on Duty to Monitor Plan Investment Options

    Issue 1 – June 2015 The U.S. Supreme Court recently ruled that plan fiduciaries that are responsible for choosing retirement investment lineups (“investment fiduciaries”) have an ongoing fiduciary duty to monitor the investment funds. Although many experienced fiduciaries and industry … Continue reading → | Download PDF →

    POODLE Vulnerability

    What is the issue? POODLE is the code name for a recently reported software vulnerability impacting an older Secure Sockets Layer (SSL) encryption protocol, SSLv3. Many implementations of the newer Transport Layer Security (TLS) encryption protocol are designed to provide … Continue reading → | Download PDF →

    Gary Norcross to Be Appointed as FIS Chief Executive Officer Effective January 2015

    Key Facts: Gary Norcross, current FIS President and Chief Operating Officer (COO) and 26-year veteran of FIS, is appointed to the role of President and Chief Executive Officer (CEO) effective January 1, 2015. Frank Martire to become Executive Chairman of … Continue reading → | Download PDF →

    Commentary on Recent Market Volatility

    Investors witnessed increased volatility and downside in the equity markets over the last month, causing many to question their allocation to these longer term investments. While we accept the potential for further near-term weakness in stock prices, our outlook for … Continue reading → | Download PDF →

    Shellshock Vulnerability

    What is the issue? A vulnerability called “Shellshock” allows a hacker to take advantage of the default command interpreter – called “Bash” – for systems using Unix-based operating systems, including Linux and Mac OS X. If left unpatched, attackers can enter a … Continue reading →

    FIS Completes Acquisition of Reliance Financial Corporation

    JACKSONVILLE, Fla., July 16, 2014 – FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, outsourcing and consulting solutions, today announced that it has completed its acquisition of Reliance Financial Corporation, including its subsidiaries Reliance Trust Company, … Continue reading → | Download PDF →