December 5th, 2017

Senate Tax Reform Success Sets Up High Stakes Conference Committee Process With the passage of the Senate’s version of tax reform, the stage is set for a bicameral conference committee process through which a select group of legislators will try to rectify the House and Senate bill texts.   Read more > Excessive Fee Suit Filed Against Multiemployer Plan Featuring a familiar set of allegations, an excessive fee lawsuit seeking class certification has been filed against the Board of Trustees of the Supplemental Income 401(k) Plan, a multiemployer plan for union members. Read more > Plaintiffs Ask Court Not to Approve J.P. Morgan Stable Value Suit Settlement “Four of twelve Class Representatives opposing the settlement is a Red flag for this Court,” says a memorandum of opposition filed with the U.S. District Court for the Southern District of New York for a lawsuit challenging underlying investments in J.P. Morgan stable value funds. Read more > More Than One-Third of U.S. Households Own IRAs Traditional IRAs remain the most popular type of IRA, owned by 28% of U.S. households. The next most common is Roth IRAs, held by 10% of U.S. households. The third most common is employer-sponsored IRAs, owned by 6% of U.S. households. Read more > MOST READ ARTICLES

ETF Expense Ratios Drive Investor Interest in 2017 For the first time in the survey’s five-year history, “expense ratio” was ranked as the top criteria for ETF selection. According to data provided by the firms, nearly two-thirds of advisers and institutional investors ranked expense ratio as “very important” when selecting ETFs, ahead of the nine other factors evaluated for importance. Read more > Spouses Play Increasingly Influential Role Alongside Advisers The biggest unmet advice consumer need, according to Hearts & Wallets, is “recommendations for minimizing taxes.” Only 21% of consumers cite a need for investment selection in comparison to 44% who say tax advice is an unmet need. Read more > Sixty Percent of Plans Automatically Enroll Participants Among larger plans, those with $200 million or more of assets, 66% use automatic enrollment, but among plans with less than $200 million, only 51% do. “Future growth in the adoption of auto enrollment will, therefore, likely come from smaller plans,” DCIIA says. Read more > Market Mirror Yesterday, the Dow closed 58.46 points (0.24%) higher at 24,290.05, the NASDAQ lost 72.22 points (1.05%) to finish at 6,775.37, and the S&P 500 was down 2.79 points (0.11%) at 2,639.43. The Russell 2000 decreased 4.61 points (0.30%) to 1,532.41, and the Wilshire 5000 closed 40.91 points (0.15%) lower at 27,407.10.   The price of the 10-year Treasury note and the price of the 30-year Treasury bond were each down 2/32, increasing their yields to 2.371% and 2.767%, respectively.

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