Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 28th, 2018

2018 PLANADVISER Micro Plan Survey

The micro-plan market—what the 2018 PLANADVISER Micro Plan Survey defines as plans with less than $5 million in assets—is the most plentiful part of the defined contribution industry. And it is growing every day. Anecdotal evidence from advisers who serve this market says these clients highly value the adviser’s services; the advisers, in turn, develop strong ties with their sponsor clients, who wear many hats and are less knowledgeable about retirement plans than those at larger firms. Read more >
DISRUPTION: Transamerica’s New TPA Requirement Denotes Industry Pressures
Our series of exclusive interviews with retirement plan service providers, new and established, continues with Transamerica—which just recently announced a requirement that all new plans coming onto the platform with less than $3 million in assets must employ a retirement specialist TPA. Read more >
Adviser Off the Hook in NYU 403(b) Plans Case
A federal court judge has denied a motion for summary judgment in a case alleging New York University allowed excessive fees in two 403(b) plans by retaining high-cost and poor performing investment options and by using multiple recordkeepers instead of a single provider. In a one-page, hand-written order, U.S. District Judge Katherine B. Forrest of the U.S. District Court for the Southern District of New York, said, “No reply is necessary on this matter. It is clear that the remaining issues in this case implicate questions of fact.” Read more >
Two Thirds of Millennials Have No Retirement Savings
A new NIRS study finds that 66.2% of working Millennials have nothing saved for retirement. While 66% of Millennials work for an employer that offers a retirement plan, only 34.3% are participating in the plan. Read more >
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Fidelity Faces a Myriad of Allegations in New ERISA Lawsuit
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AARP Launches Social Security Resource Center
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Open MEPs Could Create Many Opportunities for Advisers
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Retirement Industry People Moves
From the Magazine: Warming to ESG
At the start of 2016, 26% of professionally managed assets in Asia, Australia and New Zealand, Canada and the U.S., equal to $23 trillion, was managed under some type of social criteria, according to the Global Sustainable Investment Alliance. Read more >
More Than Half of Americans Not Contributing to a 401(k)
Furthermore, only 37% are contributing to an IRA, and 18% to a HSA, Edward Jones learned in a survey Read more >
Value Added
Plan sponsors often fail to comprehend or value their advisers’ fiduciary services, according to those service providers themselves in attendance at the 2017 PLANADVISER National Conference (PANC). Asked if they think plan sponsors understand what it means to have their adviser serve as a fiduciary, 43% of attendees polled said, “No.” And, asked if they thought plan sponsors value their adviser serving as a fiduciary, 54% responded, “Yes, some do.” Read more >
Market Mirror
Tuesday, the Dow was down 299.24 points (1.16%) at 25,410.03, the NASDAQ decreased 91.11 points (1.23%) to 7,330.35, and the S&P 500 closed 35.32 points (1.27%) lower at 2,744.28. The Russell 2000 fell 22.86 points (1.47%) to 1,536.47, and the Wilshire 5000 lost 369.59 points (1.29%) to finish at 28,339.84.   The price of the 10-year Treasury note decreased 11/32, bringing its yield up to 2.903%. The price of the 30-year Treasury bond was down 7/32, increasing its yield to 3.167%.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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