Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 22nd, 2020
Profit Sharing Plan Sponsor Accused of Imprudently Managing Plan Assets
Among other things, the plaintiff alleged fiduciaries of the plan were imprudent in their consideration of participants’ varying interests and needs in the plan’s allocation structure and investment choices. Read more >
Stimulus Seen as ‘First Steps’ to Fighting Recession
The massive stimulus that the federal government is pumping into the U.S. economy should help to significantly ease an inevitable “coronavirus recession,” investment managers say. Read more >
Iowa Best Interest Standard Aligns with NAIC Model
Iowa’s new proposed conflict of interest mitigation rules are based closely on the model framework finalized earlier this year by the National Association of Insurance Commissioners—with some important differences. Read more >
Tracking Providers’ Responses to COVID-19
From waiving fees to offering additional financial help, retirement plan recordkeepers, third-party administrators (TPAs) and advisers, as well as financial wellness providers are stepping up to assist plan sponsors and employees in a number of ways during the novel coronavirus pandemic. Read more >
Experts Predict Major Growth in Retirement Coverage, Benefits
Why 529 Education Savings Plans Are More Valuable Than Ever
Advisers Recommend Fiduciary Outsourcing Services, Mostly for Small Plans
Biden’s First Veto Keeps DOL’s ESG Rule in Place
A Reminder to Avoid Fraudulent Hardship Withdrawals
New Obligation to the SEC
I’m an investment adviser registered with the Securities and Exchange Commission [SEC]. I provide investment advice to individuals about rollovers from 401(k) plans or transfers from existing IRAs [individual retirement accounts] to IRAs that I manage. Will I have to provide a client relationship summary [Form CRS] for this advice, and, if so, what does that entail? Read more >
Clients Can Get a Free Trial of SmartDollar Financial Wellness Program
SmartDollar is offering its financial wellness program for free to anyone who has been affected by the coronavirus or laid off, through the end of the year. Read more >
The PLANADVISER Practice Benchmarking Survey
Our definitive annual report on how retirement plan advisers run their practices, particularly with respect to recommending funds, providing individual advice to plan participants and serving as a fiduciary. Read more >
Market Mirror
Tuesday, the Dow decreased 631.56 points (2.67%) to 23,018.88, the NASDAQ fell 297.50 points (3.48%) to 8,263.23, and the S&P 500 lost 86.60 points (3.07%) to finish at 2,736.56. The Russell 2000 was down 28.25 points (2.33%) at 1,185.09, and the Wilshire 5000 closed 852.40 points (3.01%) lower at 27,433.65. The price of the 10-year Treasury note was up 4/32, decreasing its yield to 0.566%. The price of the 30-year Treasury bond increased 1 30/32, bringing its yield down to 1.156%.
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