Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 30th, 2018
DOL Secures Prison Time for Two Florida ERISA Fraudsters
A pair of former executives of First Farmers Financial are being punished for their involvement in the sale of $179 million in fraudulent loans to a Milwaukee company that provided investment services to 42 retirement plans covered by the Employee Retirement Income Security Act. Read more >
Investors Bring Down Mutual Fund and ETF Costs in 2017
“Our data shows that the cheapest 20% of funds raked in nearly $1 trillion last year while the rest of the industry saw net outflows of approximately $250 billion. The message investors are sending is crystal clear—cost counts,” says Patricia Oey, senior manager research analyst for Morningstar. Read more >
IRS Reverts to Prior HSA Limit for Family Coverage
The $6,900 limitation as the maximum deductible HSA contribution for individuals with family coverage under an HDHP who contribute to an HSA will remain in effect for 2018. Read more >
$1 Million Not the Magic Number Most Employees Say They Need for Retirement
More than half of employees surveyed by CareerBuilder said they think they’ll need to save less than $1 million in order to retire. Read more >
The 2022 Retirement Landscape Takes Shape
Employees Favor Retirement Plans That Substitute Annuities for Bonds
NFP’s Wealthspire Acquires Private Ocean
Plaintiffs File ERISA Excessive Fee Lawsuit Against VCA
Retirement Industry People Moves
FPS Group Updates IPX Platform Supporting 403(b), 457(b) Advisers
The IPX platform provides RIAs with a more manageable entry point into the complex 403(b) and 457(b) markets by streamlining the requisite custody, trust, trading and administrative services. Read more >
Retirement Industry People Moves
Ascensus Appoints Industry Veterans to Board of Directors; Brinker Capital Grows Sales Division with Four Appointees; Goodwin Adds Partner to ERISA Team; and more. Read more >
Market Mirror
Friday, the Dow was down 11.15 points (0.05%) at 24,311.19, the NASDAQ was up 1.12 points (0.02%) at 7,119.80, and the S&P 500 increased 2.97 points (0.11%) to 2,669.91. The Russell 2000 decreased 1.66 points (0.11%) to 1,556.24, and the Wilshire 5000 increased 12.78 points (0.05%) to 27,734.71.   The price of the 10-year Treasury note was up 4/32, decreasing its yield to 2.970%. The price of the 30-year Treasury bond increased 21/32, bringing its yield down to 3.132%.   WEEK’S WORTH: For the week ending April 27, the Dow fell 0.62%, the NASDAQ finished 0.37% lower, and the S&P 500 was down 0.01%. The Russell 2000 lost 0.50%, and the Wilshire 5000 decreased 0.15%.
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