Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 3rd, 2019
Transamerica Faces Familiar Allegations in Self-Dealing ERISA Complaint
Similar to a lawsuit the firm settled a few years ago, a newly filed district court complaint says Transamerica “saddled its defined contribution plan participants with substandard investment portfolios that were managed by an affiliate.” Read more >
Lessons in ERISA Section 409(b)
Fiduciaries can be personally liable—even for a predecessor’s breach. Read more >
Weathering Audits
According to Jason Roberts, CEO of the Pension Resource Institute and managing partner with Retirement Law Group in San Diego, California, what the annual financial audit covers depends on whether it is a limited- or full-scope audit.  Read more >
Longevity to Exacerbate the Challenges Retirees Face
As people continue to live to older ages, they will face challenges in retirement, according to a new report from the Center for Retirement Research at Boston College, “What Financial Risks do Retirees Face in Late Life?” Read more >
Principal Reveals Eagerly Awaited Wells Fargo Platform Integration Strategy
SECURE Act Ensnared in Senate After Flying Through House
Jumbo Imprudence Alleged in H.E. Butt ERISA Challenge
Fiduciary Advisory Firms Sue to Block SEC’s Reg BI
MIT ERISA Lawsuit Parties Announce Settlement
PBGC Updates Penalties for Failure to Provide Information
New maximum civil penalties for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices have been announced. Read more >
Addressing Participant Concerns
Participants do lodge complaints against their retirement plans from time to time, and all of these should be addressed, experts say. If a retirement plan sponsor ignores a participant complaint, that participant is liable to turn to the Department of Labor on his own or hire a lawyer who will do so on his behalf, says Blaine Aikin, executive chairman of Fi360. Read more >
Market Mirror
Wednesday, the Dow was up 18.78 points (0.08%) at 23,346.24, the NASDAQ closed 30.66 points (0.46%) higher at 6,665.94, and the S&P 500 increased 3.18 points (0.13%) to 2,510.03. The Russell 2000 gained 7.35 points (0.54%) to finish at 1,355.90, and the Wilshire 5000 closed 44.79 points (0.17%) higher at 25,794.51. The price of the 10-year Treasury note was up 10/32, decreasing its yield to 2.651%. The price of the 30-year Treasury bond increased 27/32, bringing its yield down to 2.975%.

Editorial: Alison Cooke Mintzer


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