Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
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 >
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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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