Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 9th, 2019
New York’s Top Court Endorses Fiduciary Standard for Insurance Sales
New York’s expanded “best interest” standard took effect on August 1st for annuity contracts and will take effect February 1, 2020, for life insurance policies. In a new decision, the New York Supreme Court calls the expansion “a rational and reasonable movement towards consumer protection.” Read more >
Rare ‘Doe Pleading’ Allowed in ERISA ESOP Valuation Lawsuit
As a general rule, “Doe pleading” is disfavored in federal court. However, the practice is not entirely forbidden, particularly where the identities of alleged defendants are unknown. Read more >
Investment Products and Service Launches
John Hancock creates model portfolios managed by Manulife; Northern Trust builds portfolio analytics tool; American Century to launch new suite of investment solutions; and more. Read more >
Webinars Multiply Possibilities
As many as a quarter of workers view them Read more >
MOST READ ARTICLES
Company Matches on the Rise
More than 2/3 of employers now sweeten the pot to help workers save Read more >
A Precipitous Drop in ETF Flows
BlackRock and Vanguard ETFs still lead, but mutual funds eclipse them Read more >
Market Mirror
Thursday, the Dow gained 371.12 points (1.43%) to finish at 26,378.19, the NASDAQ closed 176.33 points (2.24%) higher at 8,039.16, and the S&P 500 increased 54.11 points (1.88%) to 2,938.09. The Russell 2000 was up 31.45 points (2.10%) at 1,532.13, and the Wilshire 5000 climbed 571.92 points (1.93%) to 30,177.76.   The price of the 10-year Treasury note decreased 13/32, bringing its yield up to 1.714%. The price of the 30-year Treasury bond increased 28/32, bringing its yield down to 2.227%.
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