Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 26th, 2018
Dire Testimony from Stakeholders on State of Multiemployer Pensions
Speaking to the Joint Select Committee on the Solvency of Multiemployer Pension Plans, one retired Teamster, whose wife is dying from pancreatic cancer, said he could easily end up losing his home and going bankrupt if his pension is cut by the 55% his plan’s trustees are seeking. Read more >
Appeals Court Upholds Arbitration Ruling Against USC
The panel concludes that the dispute against the University of Southern California fell outside the scope of the arbitration agreements that the participants signed. Read more >
Advisers Prefer Face-to-Face Meetings with Clients
Despite more frequent client communication through digital pathways, 73% of advisers strongly prefer face-to-face meetings with clients, Hartford Funds learned in a survey. By comparison, only 12% of advisers regularly use video options, such as Skype and FaceTime. Read more >
A 'New' Best Interest Model
Ironically, if the SEC’s proposal were to be adopted as currently drafted, broker/dealers could find themselves complying with a best interest standard and addressing conflicts of interest in a manner consistent with what they intended to use to comply with the DOL’s rulemaking. Read more >
MOST READ ARTICLES
1
Many Retirees Spending More Than They Expected
2
Progressive Plan Design Features Have Moved Down-Market
3
ERISA Litigators Reflect on Lessons Learned in 2018
4
Consider All Individual Circumstances Before Suggesting 4% Retirement Income Withdrawal
5
MetLife Pension Calculations Questioned in ERISA Complaint
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Rollover Recommendations
I provide investment advice to ERISA plan committees, plan participants and IRAs. As the DOL did not contest the 5th Circuit decision and the department’s fiduciary rule was vacated on May 7, what issues will I now need to consider in recommending plan rollovers? Read more >
To Fight Plan Leakage, Prudential Promotes After-Tax Savings
According to the firm, its new savings solution uses after-tax employee contributions to an existing retirement plan to build savings that can be accessed to cover emergencies. Read more >
Voya Debuts Holistic Financial Wellness Experience
Voya says participants will be called on to complete an assessment, through which they will receive targeted summaries and web dashboards, along with access to Voya’s “six pillars” programming. Read more >
Market Mirror
Wednesday, the Dow was up 172.16 points (0.68%) at 25,414.10, the NASDAQ gained 91.47 points (1.17%) to 7,932.24, and the S&P 500 increased 25.67 points (0.91%) to 2,846.07. The Russell 2000 closed 5.01 points (0.30%) higher at 1,685.20, and the Wilshire 5000 gained 244.28 points (0.83%) to finish at 29,635.70. The price of the 10-year Treasury note fell 5/32, bringing its yield up to 2.696%. The price of the 30-year Treasury bond decreased 11/32, boosting its yield to 3.093%.

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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