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Weekday news and analysis for retirement plan advisers
Monday, August 02, 2021
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COMPLIANCE
Calling on Lawmakers to Enact New Retirement Legislation
Those participating in a Senate Finance Committee hearing discussed ways to boost employees’ retirement savings, help with financial wellness and make it easier to offer a retirement plan.
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Compliance
10th Circuit Affirms Great-West Fee Suit Dismissal
The district court ruling in the case, now backed by an appeals court, stands out for having been filed alongside a sanction declaring the plaintiff’s law firm Schlichter Bogard & Denton behaved “recklessly.”
Today’s Most Read
1. Ascensus to Acquire Vanguard’s Individual 401(k) Business
2. Victory to Acquire Amundi’s $104B U.S. Division
3. Rebutting 7 Retirement Income Concerns
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The Personalized Choice
Plan sponsors find added value of the managed account as a qualified default investment alternative.
T. Rowe Price CEO Change Reflects Financial Industry Trends
During a conference call held to discuss the pending retirement of Bill Stromberg, CEO of T. Rowe Price, leaders at the firm highlighted the growing importance of socially responsible investing and the need to improve diversity and inclusion in financial services.
2021 PRACTICE PROGRESS WEBINAR SERIES
The Future of Health Care—and What It Means for Retirement Planning

As health care costs rise, there is more overlap than ever between health decisions and financial decisions. So much is obvious to forward-thinking financial advisers, but what is less clear is where health care itself is heading in the 21st century.

Live webinar

2:00 p.m. EST 
Aug. 10, 2021
Lawmakers Aim to Reform Index Linked Annuities Registration Regs
A bipartisan group of representatives is seeking to require the Securities and Exchange Commission to revise its rules regarding the development and offering of certain annuity products.
Women’s Retirement Protection Act Reintroduced in Congress
Democratic lawmakers in the House and Senate say the bill is needed to help address longstanding retirement insecurity issues—and to address some of the negative impacts of the pandemic.
Retirement Industry People Moves
T. Rowe Price expands sales and consultant relations team; HUB hires retirement and private wealth CIO; WFAM to be rebranded as Allspring Global Investments; and more.
Market Mirror Market Mirror Graph

Friday, the Dow lost 149.06 points (0.42%) to finish at 34,935.47, the Nasdaq closed 105.59 points (0.71%) higher at 14,672.68, and the S&P 500 decreased 23.89 points (0.54%) to 4,395.26. The Russell 2000 was down 13.78 points (0.62%) at 2,226.25, and the Wilshire 5000 fell 295.00 points (0.64%) to 45,707.99.

The price of the 10-year Treasury note was up 4/32, decreasing its yield to 1.230%. The price of the 30-year Treasury bond increased 6/32, bringing its yield down to 1.897%.

For the week ending July 30, the Dow was down 0.36%, the Nasdaq fell 1.11%, and the S&P 500 decreased 0.37%. The Russell 2000 gained 0.75%, and the Wilshire 5000 finished 0.51% lower.
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