PLANADVISERdash – August 3, 2022

Weekday news and analysis for retirement plan advisers

Wednesday, August 03, 2022

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PANC 2022

The Destination for Retirement Plan Innovators

When bad behaviors happen to good participants, it is usually because of timing, uncertainty or attention biases that cloud sound decision-making. During one of many innovative sessions, we will share practical strategies in plan design and participant education from the world of behavioral finance.

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Compliance

Booz Allen Hamilton, Others Face Passive TDF Performance Lawsuits

Unlike many other ERISA lawsuits, the complaints suggest the plan fiduciaries in question should have considered more expensive target-date funds that might have performed better.

Today’s Most Read

1.	Fidelity Data Breach Exposed Info of 77,000 Clients
2.	Who Is Most at Risk for Retirement Savings Shortfall?
3.	401(k) Traders Shifting to Fixed Income

IRS Life Expectancy Tables Updated for Retirees

The actuarial update is important for plan sponsor clients to note, but the effect to regular business is likely limited, as the individuals most affected are likely no longer employed by the plan sponsor.

Emergency Savings Preparedness and Perceptions

According to EBRI, workers with household incomes of $75,000 or more are more than twice as likely to say they feel they can handle an emergency expense than those with household incomes of less than $35,000.

Senators Raise Concerns About Bitcoin in Retirement Plans

Several U.S. Senators have sent a letter requesting answers from Fidelity on their decision to allow plan sponsors to offer participants exposure to bitcoin.

Market Mirror

Tuesday, the Dow fell 402.23 points (1.23%) to close at 32,396.17, the Nasdaq fell 20.22 points (0.16%) to 12,348.76 and the S&P 500 slipped 27.44 points (0.67%) to close at 4,091.19. The Russell 2000 was down 0.86 points (0.05%) to 1,882.45 and the Wilshire 5000 fell 207.17 points (0.50%) to close at 40,826.90.

The price of the 10-year Treasury note dropped 1 6/32 bringing its yield up to 2.753%. The price of the 30-year Treasury bond decreased 1 31/32 brining its yield up to 3.014%.

Industry Intel Roundup Featured Webinars

PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by or featuring experts in the industry. The content was created to supply actionable insights to retirement plan advisers regarding client service and practice management.

Sponsored by Allianz Life Insurance | October 24, 2024

Portability in Practice: Navigating Guaranteed Lifetime Income Options

This webinar will explore the intricacies of portability as it relates to in-plan guaranteed lifetime income products, such as annuities. It will delve into participant preferences, product design considerations, and limitations that can impact true portability. It will also look at how portability impacts the participant experience and strategies that can be employed to maintain engagement throughout various scenarios. Join Jessica Drake, Head of Operations, Employer Markets and Troy Sande, Head of Integrations and Experience, Employer Markets at Allianz Life Insurance Company of North America (Allianz) to discover strategies that can be used to address these challenges and help ensure a seamless experience across the retirement ecosystem. Guarantees are backed solely by the financial strength and claims-paying ability of the issuing insurance company. This content does not apply in the state of New York. Allianz Life Insurance Company of North America is not affiliated with PLANADVISER Magazine. For institutional use only- not for use with the public.