December 19th, 2017

Federal Judge Summarily Dismisses Delta Air Lines ERISA Fee Lawsuit The lawsuit alleged that defendants’ conduct cost plaintiffs and the proposed class millions of dollars needlessly expended on excessive fees and costs; however, in a short but informative opinion, a judge has ruled the proposed class of plaintiffs lacks standing.    Read more > Some See the Stars Aligning for a New Pension Protection Act Two retirement industry thought leaders reflect on the year that was; both agree there is a tremendous opportunity to drive positive change in 2018; might a “new” Pension Protection Act be on the horizon? Read more > DC Plan Participants Favored Fixed Income in November Asset classes with the most trading inflows in November were international funds ($190 million), bond funds ($49 million) and mid U.S. equity funds ($20 million). Asset classes with the most trading outflows were company stock funds ($146 million), stable value funds ($70 million) and small U.S. equity funds ($41 billion). Read more > 2017 PLANSPONSOR Target-Date Fund Buyer’s Guide The data submitted this year for the Target-Date Fund Buyer’s Guide, compiled by sister publication PLANSPONSOR, reinforces trends seen when first compiling this guide, in 2015. One was that asset managers are deeply committed to target-date fund solutions, as indicated by an exceptionally high research participation rate—74 products—which encompasses 99% of the total TDF marketplace by assets. Second, target-date funds, and their managers, continue to evolve their thinking and underlying allocations. Read more > MOST READ ARTICLES

Sponsored message from Voya Financial Bill Harmon discusses Voya’s Focus On Culture and Special Needs Planning. Click to view. Read more > Mercer Outlines Areas of Focus for DC Plan Sponsors in 2018 A Mercer white paper says defined contribution plan sponsors should focus on ensuring sound plan management and establishing success measures, among other things. Read more > Adviser Choices on Participant-Level Fiduciary Recommendations Plan sponsors do not need to offer, or facilitate offering, investment advice to participants if they are afraid to, based on fiduciary concerns. “But some sponsors really want to make sure they do everything they can for their participants—and that’s both a blessing and a curse for those sponsors,” says Jason Rothman, managing consultant at consulting firm Findley Davies in Cleveland. Read more > More Advisers Hope to Switch to Independent RIA Model A TD Ameritrade survey found interest in becoming an independent RIA among advisers is high, yet uncertainty about the future is keeping most from making their move. Read more > Market Mirror Yesterday, the Dow closed 140.46 points (0.57%) higher at 24,792.20, the NASDAQ gained 58.18 points (0.84%) to finish at 6,994.76, and the S&P 500 increased 14.35 points (0.54%) to 2,690.16. The Russell 2000 climbed 18.50 points (1.21%) to 1,548.92, and the Wilshire 5000 was up 137.50 points (0.50%) at 27,871.81.   The price of the 10-year Treasury note decreased 11/32, bringing its yield up to 2.394%. The price of the 30-year Treasury bond fell 1 0/32, increasing its yield to 2.738%.

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