August 24th, 2020

Having Both a 401(k) and an IRA Leads to Higher Retirement Savings The ratio of the combined 401(k) and IRA balance to the average 401(k) plan balance was 2.48. Read more > More Teachers Are Leaving the Workforce Many are considering early retirement or reducing their retirement savings. Read more > iHeart 401(k) Plan Fiduciaries Targeted in Excessive Fee Suit The allegations basically mirror those included in the long list of excessive fee suits filed. Read more > Another Lawsuit Scrutinizes Use of Active TDF Suite in 401(k) Plan Prime Healthcare Services is one of the latest targets of an ERISA 401(k) excessive fee suit. Read more > MOST READ ARTICLES 1 2023 Retirement Plan Adviser of the Year Finalists 2 Principal Continues Focus on Asset Management, ‘Jet Fuel’ of the Business 3 With SECURE 2.0, the Cash Balance DB Plan May Be Back 4 Retirement Advisers Increasingly Want PEP Option in Toolbox 5 Complying With the Custody Rule and the New Custody Proposal

Massive Teacher Retirements Could Hurt Pensions It would increase public pension plans’ required contributions and result in lower contributions by members. Read more > Retirement Industry People Moves LeafHouse announces marketing and communications VP; Aegon AM selects global product head; Compass Advisors joins Vanguard’s Elite Advisor Program; and more. Read more > Market Mirror Friday, the Dow gained 190.60 points (0.69%) to finish at 27,930.33, the NADAQ closed 46.85 points (0.42%) higher at 11,311.80, and the S&P 500 increased 11.65 points (0.34%) to 3,397.16. The Russell 2000 fell 17.30 points (1.10%) to 1,552.48, and the Wilshire 5000 was up 82.67 points (0.24%) at 34,741.40.   The price of the 10-year Treasury note was up 1/32, decreasing its yield to 0.638%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 1.346%.   For the week ending August 21, the Dow was virtually unchanged, the NASDAQ gained 2.65%, and the S&P 500 was up 0.72%. The Russell 2000 finished 1.61% lower, and the Wilshire 5000 increased 0.76%.

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