Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 27th, 2020

New Fiduciary Rule Ahead

The main theme of the DOL’s new rule proposal is in alignment with other regulators—the SEC and FINRA in particular—but the agency is not surrendering its jurisdiction over tax-qualified retirement plans. Read more >
Contemplating a Reversal of Regulation Best Interest
The past two presidential administrations have taken starkly different views on the topic of conflicts of interest in the financial services industry, so it is only natural to ask what might happen after the November election. Read more >
Fund Argues Court Decision Shields PE Firms From Multiemployer Plan Withdrawal Liability
The New England Teamsters and Trucking Industry Pension Fund, in its long-running legal attempt to collect withdrawal liability, has filed a petition with the U.S. Supreme Court. Read more >
Court Agrees Colgate-Palmolive Miscalculated Cash Balance Benefit Payments
A court ordered Colgate-Palmolive to recalculate benefits paid to certain retirees from its cash balance plan but stayed the relief to allow time for an appeal. Read more >
Advisers Giving Back: Bernadette Lanser and St. Ben’s Community Meal
It was originally supposed to be a one-time thing, but at this point, Lanser has spent more than 17 years volunteering at St. Ben’s Community Meal program. Read more >
Franklin Templeton to Acquire Putnam for $925 Million
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
Smart Acquires Managed Account Provider ProManage
Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say
FINRA Fines Vanguard for Overstating Money Market Projections
2020 PLANADVISER Recordkeeper Services Survey
Small businesses increasingly recognize the importance of offering retirement benefits to their workers. These can be a powerful tool for employee acquisition and retention, provide a valuable employer tax benefit, and lead to better financial health—and lower stress—for workers. Read more >
SEC Fund Report Proposal Seen as Big Step Toward Modernization
One attorney who works on Securities and Exchange Commission compliance issues says the proposal will help retail investors digest key information while ensuring transparency remains a top priority. Read more >
Four Things to Know About Changes to Employer Contributions
Advisers can play an important role in helping plan sponsors understand the options available to them, as well as the impact of making certain plan changes. Read more >
Market Mirror
Wednesday, the Dow was up 83.48 points (0.30%) at 28,331.92, the NASDAQ climbed 198.59 points (1.73%) to 11,665.06, and the S&P 500 gained 35.11 points (1.02%) to finish at 3,478.73. The Russell 2000 decreased 11.02 points (0.70%) to 1,560.19, and the Wilshire 5000 closed 334.52 points (0.95%) higher at 35,512.91. The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.694%. The price of the 30-year Treasury bond decreased 4/32, bringing its yield up to 1.414%.
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