PLANADVISERdash – April 5, 2021

Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR

April 5th, 2021

Judge Finds Participant Data Is Not a Plan Asset in Case Against Fidelity

As part of an excessive fee lawsuit against Shell Oil, Fidelity was named as a defendant and accused of breaching its fiduciary duties by sharing participant data with affiliates for solicitation of other products. Read more >

ICON Clinical Research Faces Common ERISA Claims

One feature the new complaint has in common with suits filed previously by Capozzi Adler is its reliance on comparing the plan’s expenses for investments and administration services with a group of alleged peers. Read more >

A New Telling of the Story of Persistent Inequality

The interest rate regime embraced to combat strong inflation of the mid-1970s and early 1980s has had unintended consequences—including the development of historic levels of wealth inequality. Yakov Feygin says there’s a lot that can be done to turn things around. Read more >

SEI Acquires Oranj’s Cloud-Native Technology Platform

This is expected to enable advisers to engage with clients in technologically advanced ways Read more >

MOST READ ARTICLES

2023 Retirement Plan Adviser of the Year Finalists

A Reminder to Avoid Fraudulent Hardship Withdrawals

Senators Propose Repealing Social Security Cuts to Public Pensioners

Small Businesses and SECURE 2.0: Exemptions and Tax Credits

With SECURE 2.0, the Cash Balance DB Plan May Be Back

Upcoming Webinar: ESG and ERISA Plans

We will discuss how asset managers are putting environmental, social and governance investing themes to work. Particular attention will be paid to the regulatory environment and the potential to pursue greater investment returns by seeking out companies with higher ESG ratings. Read more >

Special Coverage: Pros and Cons of Customization

From the growth of custom default target-date funds to new approaches to managed accounts, there’s a lot for advisers and their clients to consider. Read more >

Market Mirror

Thursday, the Dow closed 171.66 points (0.52%) higher at 33,153.21, the Nasdaq gained 233.24 points (1.76%) to finish at 13,480.11, and the S&P 500 was up 46.98 points (1.18%) at 4,019.87. The Russell 2000 increased 58.11 points (2.65%) to 2,253.90, and the Wilshire 5000 climbed 539.10 points (1.29%) to 42,280.97. The price of the 10-year Treasury note increased 5/32, bringing its yield down to 1.685%. The price of the 30-year Treasury bond climbed 1 27/32, decreasing its yield to 2.334%. For the week ending April 1, the Dow was up 0.24%, the Nasdaq climbed 2.60%, and the S&P 500 increased 1.14%. The Russell 2000 gained 1.46%, and the Wilshire 5000 finished 1.34% higher.

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