Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 3rd, 2019

Advisers’ Future Trajectory

Retirement plan advisers with any significant experience will have run into the fundamental question of how to structure a practice that can effectively serve both private wealth management clients and institutional retirement plan clients. Read more >
Proposed Regs Would Provide Exception to One-Bad-Apple Rule for MEPs
A final rule would take care of one item being considered in legislation proposing the ability for employers to join open multiple employer plans. Read more >
Health Care Could Cost a 65-Year Old Couple $396K Over Their Lifetimes
In 2019, a healthy 67-year-old couple will spend 39% of their pre-tax Social Security monthly benefit of $1,388.38 for retirees and $817.99 for spouses. Social Security cost-of-living adjustments of 2% in 2018 and 2.8% in 2019 are used. Read more >
How Does Recordkeeper Consolidation Affect Plan Advisers?
Ongoing recordkeeper consolidation means fewer providers from which to choose, but sources disagree about whether this will significantly change the adviser experience or not. Read more >
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2019 PLANADVISER National Conference
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MIT ERISA Lawsuit Parties Announce Settlement
Denial of Benefits
While the Supreme Court’s decision in Kennedy v. Plan Administrator for Dupont Savings Plan emphasized the necessity for a plan administrator to comply with the terms of a plan, lower courts are still undecided as to whether that decision eliminated the substantial compliance doctrine, an issue that frequently arises in designation of beneficiary cases. Read more >
Beyond K: Whatever Suits
Michael Foguth, founder of Foguth Financial Group in Brighton, Michigan, says the No. 1 determiner of retirement readiness is not the person’s total assets but how much income he will need. “It’s a misconception that people have to save a certain dollar amount or save for an 80% income replacement rate,” he says. “How much people need differs. It could be 80%—or more or less.” Read more >
Market Mirror
Tuesday, the Dow gained 69.25 points (0.26%) to finish at 26,786.68, the NASDAQ increased 17.93 points (0.22%) to 8,109.09, and the S&P 500 was up 8.68 points (0.29%) at 2,973.01. The Russell 2000 closed 9.13 points (0.58%) lower at 1,560.54, and the Wilshire 5000 closed 66.38 points (0.22%) higher at 30,551.84. The price of the 10-year Treasury note was up 5/32, decreasing its yield to 1.976%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 2.503%.

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

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