January 30th, 2018

Court Denies Franklin Templeton’s Petition to Appeal Class Certification Franklin Templeton’s lawyers argued that while a Supreme Court ruling allowed the plaintiff to pursue an individual claim, he signed a waiver to not pursue class action lawsuits upon his severance of employment. Read more > Zero/Zero Share Classes in 2018 Regardless of what comes to bear with the Department of Labor fiduciary rule—full implementation and enforcement, total repeal or, as is the case now, something in between—its influence is already clearly seen across the industry.  Read more > Nearly One in Seven Expects to Continue Working or Never Retire Ninety-one percent of Americans say they take ownership of their financial security, either through personal retirement savings accounts or employer plans. This is higher than the global average of 81% who say they take ownership of their financial security.  Read more > Cybersecurity and Benefit Plans Another unresolved issue is whether private participant data is a plan asset under ERISA’s fiduciary duty provisions. While ERISA does not provide a general definition of “plan asset,” courts have followed the position of the DOL that notions of ordinary property rights address that question, but that analysis is of limited help with respect to private participant plan data. Read more > MOST READ ARTICLES

Sponsored message from AXA Capitalizing on evolving small to mid-market 401(k) plans Click to learn AXA U.S. 3 key trends that offer advisors new opportunities to grow their business Read more > From the Magazine: The Next Step Plan sponsors do not need to offer, or facilitate offering, investment advice to participants if they are afraid to, based on fiduciary concerns. “But some sponsors really want to make sure they do everything they can for their participants—and that’s both a blessing and a curse for those sponsors,” says Jason Rothman, managing consultant at consulting firm Findley Davies in Cleveland. Read more > TD Ameritrade, FeeX Launch DC Plan Fee Analyzer Tool In line with this launch, TD Ameritrade conducted a survey of 1,000 investors and found that only 27% know how much they are paying in 401(k) fees. Thirty-seven percent mistakenly think they are not paying any fees, 22% do not know if their plan has a fee, and 14% do not know how to determine the fee. Read more > New Team at Transamerica to Serve Health Care Employers The new dedicated team of servicing executives and account managers are experienced within their retirement plan or voluntary employee benefits specialties. Read more > Market Mirror Yesterday, the Dow lost 177.23 points (0.67%) to finish at 26,439.48, the NASDAQ closed 39.27 points (0.52%) lower at 7,466.51, and the S&P 500 decreased 19.34 points (0.67%) to 2,853.53. The Russell 2000 was down 9.95 points (0.62%) at 1,598.11, and the Wilshire 5000 fell 209.51 points (0.70%) to 29,551.09. The price of the 10-year Treasury note was down 9/32, increasing its yield to 2.695%. The price of the 30-year Treasury bond decreased 21/32, bringing its yield up to 2.947%.

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