May 21st, 2019

Buyer Beware! There’s no such thing as standard adviser E&O ­insurance. More and more insurers have moved into this space. As a result, there are some providers with much less experience than others. Read more > Will Your Clients Attend PSNC 2019? One of the benefits for plan sponsors of attending the upcoming PLANSPONSOR National Conference is the opportunity to learn from peers. This year’s conference includes a special session featuring Southwest Airlines, winner of the 2019 Plan Sponsor of the Year – Total Retirement Offering award, with recordkeeping partner Empower. The culture of Southwest and the culture of the plan are one in the same, leading to a successful retirement program with a median participant retirement income score of more than 100%. Read more > Unrelated Taxable Income and Pensions Plan fiduciaries, plan advisers and investment fund managers may not be aware that the Tax Cuts and Jobs Act of 2017, enacted a year ago December, made major changes to the Internal Revenue Code provisions affecting unrelated business taxable income.  Read more > MOST READ ARTICLES 1 Principal Continues Focus on Asset Management, ‘Jet Fuel’ of the Business 2 Biden’s First Veto Keeps DOL’s ESG Rule in Place 3 2023 Retirement Plan Adviser of the Year Finalists 4 Experts Predict Major Growth in Retirement Coverage, Benefits 5 Complying With the Custody Rule and the New Custody Proposal

Financial Stress Flows Up and Down the Generations A new TIAA survey suggests Americans who are concerned about their parents’ financial security are more likely to feel stress about their own retirement preparedness. Read more > Advisers’ Leading Role in Cybersecurity It is important to ask what cybersecurity means to retirement plan service providers and fiduciary advisers—and what steps they can take to ensure the safety of participant assets and data. Read more > Market Mirror Monday, the Dow was down 84.10 points (0.33%) at 25,679.90, the NASDAQ lost 113.91 points (1.46%) to finish at 7,702.38, and the S&P 500 decreased 19.30 points (0.67%) to 2,840.23. The Russell 2000 fell 10.80 points (0.70%) to 1,524.96, and the Wilshire 5000 closed 205.06 points (0.69%) lower at 29,316.55. The price of the 10-year Treasury note was down 2/32, increasing its yield to 2.421%. The price of the 30-year Treasury bond was down 2/32, increasing its yield to 2.837%.

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