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Weekday news and analysis for retirement plan advisers
Tuesday, December 28, 2021
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COMPLIANCE
Birdthistle Takes Helm at SEC Division of Investment Management
SEC Chair Gary Gensler says he looks forward to working closely with William Birdthistle, an at-times harsh critic of the mutual fund industry, to plan and execute a proactive regulatory agenda.
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Plaintiff’s Severance Agreement Doesn’t Stop ESOP Lawsuit
The defendants’ motion for summary judgment, based on the release of claims and their contention that the plaintiff didn’t suffer an injury, was denied.
Today’s Most Read
1. Supreme Court Rules Against Northwestern University in Fee Case
2. Class Certified in 401(k) Plan Trustees’ Lawsuit Against John Hancock
3. Another Stressed Union Pension to Get PBGC Support
Sponsored by PGIM Investments
The Myth About Target Date Fund Participant Inertia
Are target date fund participants truly inactive, evenduring market volatility?
The Biden Administration Extends Student Loan Repayment Pause Through May 1
Biden says the extension is meant to acknowledge that millions of borrowers are still coping with the negative financial impacts of the pandemic.
DOL Cautions Small Plan Fiduciaries Against Diving Into Private Equity Investments
The agency issued a supplemental statement in response to stakeholder concerns that private equity investments could be inappropriate for small DC plans.
Plaintiffs Refile ERISA Complaint Against Prudential
The original lawsuit was dismissed in September, but the plaintiffs were given time to file an amended complaint, which they have now done.
Natixis ERISA Lawsuit Clears Early Dismissal
Like the many other ERISA lawsuits filed against large financial service providers, the complaint alleges that the defendants failed to administer the plan in the best interest of participants and failed to employ a prudent process.
PRTs and In-Plan Annuities Among Top 2022 Trends to Watch
The past two years have been challenging for institutional investors, but they have also brought about opportunities to address some long-term financial challenges.
Market Mirror Market Mirror Graph

Yesterday, the Dow increased 351.82 points (0.98%) to 36,302.38, the Nasdaq climbed 217.89 points (1.39%) to 15,871.26, and the S&P 500 gained 65.40 points (1.38%) to finish at 4,791.19. The Russell 2000 was up 19.88 points (0.89%) at 2,261.46, and the Wilshire 5000 closed 596.34 points (1.24%) higher at 48,767.44.

The price of the 10-year Treasury note increased 23/32, bringing its yield down to 1.480%. The price of the 30-year Treasury bond was up 7/32, decreasing its yield to 1.881%.

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