| Delay Seems Likely, But Confusion Remains on DOL Fiduciary Rule Future |
| Conflicting media reports have started to circulate, some to the effect that a delay of the DOL fiduciary rule has already been effectuated—others that are more skeptical this is even possible.
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| Self-Dealing Lawsuit Filed Against Charles Schwab |
| The complaint alleges that defendants “reaped significant fees and profits at the expense of the plan and its participants.”
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| Few Millennials Making Recommended 401(k) Contribution |
| Most Millennials are not contributing at least 15% of their income toward their 401(k) plans, but a majority are moving in the right direction, a new study finds.
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| GAO Issues Call to Examine American Retirement System |
| According to a GAO report, it has been nearly 40 years since a federal commission has conducted a comprehensive evaluation of the nation’s approach to financing retirement.
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| DOL Fiduciary Rule Delay Language Emerges |
| The new leadership at Department of Labor has published the rulemaking through which it hopes to delay the strict conflict of interest rules championed by the previous administration and set to take effect next month.
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| Inside View of DOL Fiduciary Rule Arguments Before 5th Circuit |
| Oral arguments in the consolidated case against the DOL and its fiduciary rule reforms were heard Monday morning by the 5th Circuit Court of Appeals; ERISA attorney Erin Sweeney offers her take.
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| Fiduciary Rule Creating Opportunities for Advisers to Small Plans |
| Many sponsors in the mid- and small-plan market, facing pressure from participants and regulators, are seeking DC specialist advisers for the first time.
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| Market Mirror |
| Friday, the Dow dropped 118.29 points (0.48%) to finish at 24,719.22, the NASDAQ closed 46.77 points (0.67%) lower at 6,903.39, and the S&P 500 decreased 13.93 points (0.52%) to 2,673.61. The Russell 2000 fell by 13.41 points (0.87%) to 1535.51, and the Wilshire 5000 dropped 126.78 points (0.45%) to 27,794.17.
The price of the 10-year Treasury note increased 7/32, lowering its yield to 2.411%. The price of the 30-year Treasury bond was up 8/32, decreasing its yield to 2.745%.
WEEK’S WORTH: For the week ending December 29, the Dow finished 0.14% lower, the NASDAQ was down 0.81%, and the S&P 500 decreased 0.36%. The Russell 2000 lost 0.48%, and the Wilshire 5000 was down 0.25%.
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