December 29th, 2017

Great-West Prevails in Suit Over Stable Value Fund The lawsuit alleged Great-West Life & Annuity Insurance Company breached its fiduciary duty of loyalty under ERISA Sections 502(a)(2) and (3)—namely by setting predetermined interest rates artificially low and charging excessive fees in order to increase its own profits from the sale and servicing of the Great-West Key Guaranteed Portfolio Fund. Read more > Awaiting Third Circuit Action, District Court Returns Split Decision in Princeton ERISA Lawsuit motion for reconsideration of its previous motion to dismiss, while simultaneously granting a motion to stay the litigation process as a parallel case makes its way to the controlling Third Circuit. Read more > Reporting Emerges that Many DOL Fiduciary Rule Comments Could Be Fake The Wall Street Journal published an analysis this week suggesting “at least five governmental agencies have received fake comments challenging the agencies’ rules,” including the Department of Labor; the DOL is so far declining additional comment. Read more > Court Decision Provides Lessons for What Constitutes a QDRO An appellate court found a divorce decree met all the requirements of a QDRO under ERISA. Read more > Splitting Up DB Plans Can Reduce PBGC Premiums DB plan sponsor clients may want to consider a strategy to reduce PBGC variable-rate premiums. Read more > MOST READ ARTICLES

Only 13% of Retirement Plan Participants Seek Out Advice However, advice seeking increases with age, account balance and annual contribution level. Read more > Research and Surveys Can Help Inform Plan Sponsor Client Decisions From what participants want, to retirement plan trends and what other plan sponsors are doing, data and research can be used to help retirement plan sponsor clients decide what is right for their own plans. Read more > Tax Reform Bill Could Affect ESOPs Newly leveraged Employee Stock Ownership Plans that borrow a large amount may find that their deductible expenses will be lower. Read more > ICMA-RC Overhauls Website Besides revamping the public website, the participant and plan administration portals have also been enhanced. Read more > Market Mirror Thursday, the Dow gained 63.21 points (0.26%) to finish at 24,837.51, the NASDAQ was up 10.82 points (0.16%) at 6,950.16, and the S&P 500 increased 4.92 points (0.18%) to 2,687.54. The Russell 2000 climbed 4.99 points (0.32%) to 1,548.93, and the Wilshire 5000 closed 56.36 points (0.20%) higher at 27,920.95.   The prices of the 10-year Treasury note and the 30-year Treasury bond were both down 5/32, increasing their yields to 2.429% and 2.754%, respectively.

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