| DOL Investigation Results in $5 Million ESOP Settlement |
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The settlement agreement resolves a civil suit brought by the DOL, alleging Cactus Feeders Inc. ESOP fiduciaries failed to fulfill their obligations under ERISA during a December 2010 stock transaction.
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| Average Deferral Rate Reaches 8.3% |
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Additionally, the number of plans with an initial 6% deferral rate for automatic enrollment now surpass those with 3% as the initial rate.
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| Participation Rates Not Affected by Student Loans |
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A brief by the Center of Retirement Research studied how the size and scope of student loans affects 401(k) participation and retirement wealth accumulation.
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| FiduciaryFirst Revamps Website to Offer Financial Wellness |
| “This is a great way for our clients and prospects to receive educational tools as well as valuable information that our team has discovered through decades of research,” says Dale Faller, managing partner of FiduciaryFirst. “Our website is now a platform to deliver all of our content in a user-friendly format.”
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| Market Mirror |
| Yesterday, the Dow was up 35.77 points (0.15%) at 24,307.18, the NASDAQ climbed 57.38 points (0.76%) to 7,567.69, and the S&P 500 closed 8.34 points (0.31%) higher at 2,726.71. The Russell 2000 gained 12.02 points (0.73%) to finish at 1,655.09, and the Wilshire 5000 increased 87.82 points (0.31%) to 28,481.95.
The prices of the 10-year Treasury note and 30-year Treasury bond each were down 2/32, increasing their yields to 2.869% and 2.995%, respectively.
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