Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
December 4th, 2018
USC Files Petition for Supreme Court to Review 9th Circuit’s Refusal to Compel Arbitration
The question before the high court is, “Whether an agreement to arbitrate ‘all claims’ that an ERISA plan participant ‘may have’ against a plan fiduciary encompasses a breach-of-fiduciary-duty claim under ERISA § 502(a)(2).” Read more >
Lawsuit Charging Aon Hewitt With Taking ‘Kickbacks” From Financial Engines Is Closed
The parties report they have resolved the case, and the judge dismissed the action with prejudice—meaning another complaint cannot be filed. Read more >
Latino Workers Need Far Better Access to DC Plans
Working in collaboration with Hispanic civil rights and advocacy organization, the National Institute on Retirement Security has published a detailed analysis of the challenges facing Latino workers in the U.S. as they save and invest for retirement. Read more >
LPL Cuts Small Market Platform Fee Amid Competition for Talent
By cutting the fee for its small-plan investment outsourcing solution to 10 basis points, the firm says it will better position its advisers to grow their practices by serving untapped retirement plan markets. Read more >
15th Anniversary of Retirement Plan Adviser of the Year
Fidelity Wins Dismissal of FundsNetwork Revenue Sharing Challenge
Inheritance Pathways Exist to Replace Stretch IRAs
Weighing 403(b)s versus 401(k)s for Nonprofits
Retirement Industry People Moves
Amid Volatility, Advisers Report Ongoing Client Equity Focus
Despite clients’ tendency to focus on equity performance, half of advisers surveyed by Incapital expect their clients will be increasing allocations to fixed income or cash over the next 12 months. Read more >
ASB Votes to Adopt Changes to ERISA Plan Annual Financial Audits
Although the ASB has voted to issue this SAS as a final standard, it expects to consider whether conforming amendments to this SAS will be necessary once the Proposed Statements on Auditing Standards Auditor Reporting and Related Amendments are voted to be issued, which is expected to occur in the first half of 2019. Read more >
Market Mirror
Yesterday, the Dow gained 287.97 points (1.13%) to finish at 25,826.43, the NASDAQ closed 110.98 points (1.51%) higher at 7,441.51, and the S&P 500 increased 30.20 points (1.09%) to 2,790.37. The Russell 2000 was up 15.69 points (1.02%) at 1,548.96, and the Wilshire 5000 climbed 319.62 points (1.12%) to 28,768.49. The price of the 10-year Treasury note was up 6/32, decreasing its yield to 2.973%. The price of the 30-year Treasury bond increased 25/32, bringing its yield down to 3.253%.
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