Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 12th, 2019
Mixed Ruling in Oracle ERISA Suit Strongly Favors Defense
Despite a setback for Oracle at the class certification stage, a new ruling out of a federal court in Colorado pushes back strongly against many—but not all—of the plaintiffs’ claims. Read more >
IRS No Longer Intends to Amend Regulations Affecting Retiree Lump-Sum Windows
The agency previously announced it would amend required minimum distribution regulations in a way that would prohibit the offering of lump-sum windows to defined benefit (DB) plan participants already retired and in pay status. Read more >
Study Finds Alphabeticity Bias in 401(k) Investing
Authored by academics at Saint Louis University, Seton Hall University and Kansas State University, as well as a researcher at the Ipsos Behavioral Science Center, a new white paper finds that people tend to select the first “acceptable” option. Read more >
Franklin Templeton to Acquire Putnam for $925 Million
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
Smart Acquires Managed Account Provider ProManage
Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say
FINRA Fines Vanguard for Overstating Money Market Projections
Many Widows, Divorcees Feel Patronized by Financial Advisers
Among women who provide the primary source of their household’s income, 44% believe that advisers treat women differently. Among professional and non-professional women whose primary contributions to the household are non-financial, 32% feel excluded in conversations with financial advisers.  Read more >
New York Life Investments Program Aids Advice Across Gender Lines
Coinciding with the publication of a new survey showing women regularly feel patronized by financial advisers, New York Life Investments has launched a program to help advisers better serve women in their client base. Read more >
Market Mirror
Yesterday, the Dow gained 200.64 points (0.79%) to finish at 25,650.88, the NASDAQ closed 149.92 points (2.02%) higher at 7,558.06, and the S&P 500 increased 40.23 points (1.47%) to 2,783.30. The Russell 2000 was up 26.99 points (1.77%) at 1,548.88, and the Wilshire 5000 climbed 426.61 points (1.50%) to 28,828.80. The price of the 10-year Treasury note was down 2/32, increasing its yield to 2.643%. The price of the 30-year Treasury bond decreased 8/32, bringing its yield up to 3.029%.
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