Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 20th, 2018
Will SCOTUS Decide the Fate of the DOL Fiduciary Rule?
Some ERISA attorneys argue the Fifth Circuit decision last week to vacate entirely the DOL’s fiduciary rule expansion makes a Supreme Court decision on the matter inevitable; others are less sure that a decisive SCOTUS decision could be forthcoming, instead expecting the SEC to take the lead; still others are recommending patience and ongoing compliance. Read more >
Bill Would Order Massachusetts Pension to Divest From Gun Manufacturers
A bill was filed with the Massachusetts Legislature that would require the state’s public pension fund to divest from companies that manufacture guns and ammunition. “Divesting our public pension funds from gun and ammunition manufacturers sends a clear message that we stand with the victims and survivors of gun violence everywhere,” said State Treasurer Deb Goldberg in a statement. Read more >
Older Families’ Debt Levels Have Increased Since 1998
However, EBRI found that the average total debt decreased from $82,968 in 2010 to $76,679 in 2016, and the median debt level also decreased, from $61,219 to $47,800. EBRI also learned that families with younger or more educated family heads, higher incomes and higher net worth carried significantly higher average and median debt levels. Read more >
Giving 529 Plans A Try
In an industry becoming increasingly “siloed,” as one retirement plan adviser observes, he and many others have discovered the value of going against the grain. They have found that adding one or more tangentially related plans or services, even if not lucrative at first, can solidify their client relationships, and their firm’s competitiveness. Read more >
DOL Finalizes Rule Opening Door to ESG Investing in Retirement Plans
Advisers Get Long-Awaited Clarity on ESG in Retirement Plans
Plan Advisers Value Trustworthiness, “Personal” Touch from DC Recordkeepers
AARP Finds Major Gap Between Retirement Goals and Preparedness
Financial Firms Looking to HBCUs, “Pipeline” Programs to Bolster Diversity
Sponsored message from Ascensus
The 2018 PLANADVISER Micro Plan Survey
What Plan Sponsors and Advisers Need to Know. Read more >
Many Would Forego Social Security for Student Loan Debt Forgiveness
The Student Security Act of 2017​ would grant $550 in student loan forgiveness for each month a student debtor was willing to raise his or her full retirement age, or $6,600 per year. Read more >
Washington Financial Group Adds Educational Content to Website
WFG’s website offers information on upcoming educational events, infographics, webinars and newsletters addressing key topics centered around retirement plans and wealth management. Read more >
‘Principal Protection’ Investments
In a number of cases, the plan sponsor or other named fiduciary tasked with choosing investment options has been sued for breach of fiduciary duty by plan participants. In each, the participants argued that stable value funds produced a higher rate of return (ROR) than did money market funds. Thus, a stable value fund should have been made available as an investment option under the plan—and, possibly, in lieu of a money market fund or other option with a lower ROR. Read more >
Market Mirror
Yesterday, the Dow lost 335.60 points (1.35%) to finish at 24,610.91, the NASDAQ closed 137.74 points (1.84%) lower at 7,344.24, and the S&P 500 decreased 39.09 points (1.42%) to 2,712.92. The Russell 2000 was down 15.49 points (0.98%) at 1,570.56, and the Wilshire 5000 fell 446.89 points (1.57%) to 28,098.29. The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.851%. The price of the 30-year Treasury bond decreased 6/32, bringing its yield up to 3.089%.
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