Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 12th, 2020

Segal Leaders Perplexed Over Treasury’s Benefit Cut Rejections

A law passed in 2014 allows stressed union pensions to reduce benefits in order to prevent insolvency, subject to approval by the U.S. Treasury. One leading actuarial firms says the agency is preparing to wrongfully reject an application made by one of its clients. Read more >
Judge Finds 401(k) Participants Proved No Harm From Lack of Stable Value Fund
A more than four-years-long lawsuit arguing American Airlines should have offered a stable value fund in its 401(k) plan rather than the AA Credit Union Fund has ended with a federal judge granting summary judgement to American Airlines. Read more >
Mercy Health Charged With Excessive Fees, Prohibited Transactions
The lawsuit challenges fees for recordkeeping, target-date funds and stable value funds, as well as fees paid to service providers to the health care system’s 403(b) plan. Read more >
Cash Balance Plans On Pause Among Small Businesses
“During this climate, most will freeze the plan which reduces the funding requirements,” says Daniel Kravitz, president at Kravitz Financial. “When the economy picks up, oftentimes they’ll unfreeze.” Read more >
Plaintiffs Firms Must Pay $1.5 Million for ‘Reckless’ Litigation
More TDF Underperformance ERISA Lawsuits Filed
Dover Corporation Faces ERISA Suit Over Managed Account Fees
The Future of Work in the Investment Industry
Lawsuit Against Northern Trust Over TDFs Will Proceed
2020 PLANADVISER Micro Plan Survey
Micro plans have much to gain from adviser help with fiduciary matters. Read more >
John Hancock to Waive Recordkeeping Fees in Q121
The break will apply to 401(k) plans that sign up with the company between August 1 and December 31, 2020. Read more >
Live Webinar: Advisers Giving Back, How to Get Started
Beyond recognizing the work of the generous advisers in our industry, this editorial-driven webinar will provide tips and strategies for launching new charitable giving efforts and creating a workplace culture that embraces corporate social responsibility. Read more >
Market Mirror
Tuesday, the Dow was down 104.53 points (0.38%) at 27,686.91, the NASDAQ fell 185.53 points (1.69%) to 10,782.82, and the S&P 500 closed 26.78 points (0.80%) lower at 3,333.69. The Russell 2000 decreased 9.57 points (0.60%) to 1,575.10, and the Wilshire 5000 lost 290.11 points (0.84%) to finish at 34,063.95. The price of the 10-year Treasury note decreased 27/32, bringing its yield up to 0.641%. The price of the 30-year Treasury bond fell 1 31/32, increasing its yield to 1.335%.
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