Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
December 20th, 2018
After Grace Period, SEC Share Class Disclosure Investigations Begin
Attorneys warn the “other shoe has dropped” in the SEC’s special Share Class Disclosure Initiative—and RIAs that did not self-report potential 12b-1 fee disclosure violations are now being investigated. Read more >
GE Dismissal Motions Mostly Flop in ERISA Self-Dealing Lawsuit
The judge approved just one part of General Electric’s motion to dismiss an ERISA lawsuit alleging self-dealing, allowing seven counts to proceed to discovery. Read more >
Senators Introduce Bill Regarding Student Loan Repayment Benefits in Retirement Plans
Introduction of the bill follows a private letter ruling from the IRS in August in which it approved a plan sponsor’s plan amendment to offer a student loan repayment benefit to employees. Read more >
Employer Retirement Plan Rollovers Feed Traditional IRAs
Fifty-eight percent of traditional individual retirement account-owning households said that their accounts contained rollovers form employer-sponsored retirement plans in 2018, according to data from the Investment Company Institute. Read more >
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
SS&C Adds Allianz Retirement Income Annuity to DC Plan Platform
As States Add Retirement Programs, Private Providers See Growth
ChatGPT Sentiment Analysis Significantly Outperforms Stock Market Average
Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say
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Mercer Recommends Areas of Focus for DB Plans in 2019
According to Mercer, developing a “journey plan” that outlines the strategic policy choices to move a plan to its ultimate destination is a step many plan sponsors have undertaken. Read more >
Single Retirees Have Different Advice Needs
LIMRA Secure Retirement Institute data shows single retirees feel less confident than married retirees; many say they want more professional financial advice. Read more >
Market Mirror
Wednesday, the Dow lost 351.98 points (1.49%) to finish at 23,323.66, the NASDAQ closed 147.08 points (2.17%) lower at 6,636.83, and the S&P 500 decreased 39.20 points (1.54%) to 2,506.96. The Russell 2000 was down 27.95 points (2.03%) at 1,349.23, and the Wilshire 5000 fell 405.65 points (1.55%) to 25,752.59. The price of the 10-year Treasury note increased 12/32, bringing its yield down to 2.777%. The price of the 30-year Treasury bond climbed 1 24/32, decreasing its yield to 2.986%.
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