Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 19th, 2019
GAO Asked to Examine Retirement System Cybersecurity
In a letter to the Government Accountability Office (GAO), lawmakers said retirement savings are “a tempting target for criminals who could hack into plans and individuals’ accounts to access information, commit identity fraud, and steal retirement savers’ nest eggs.” Read more >
Comment Deadline Arrives for NAIC Annuity Sales Best-Interest Rule
The standard-setting and regulatory support organization governed by the chief insurance regulators of all 50 states set today as a deadline for industry comments on the latest draft of a model best-interest suitability standard applying to annuity sales. Read more >
Bill Would Enable Employers to Offer Tax-Free Student Loan Repayment Assistance
The bill would expand the Employer Education Assistance Program, which only provides assistance for workers who are seeking additional education, but does not benefit individuals who already have incurred student loan debt Read more >
Aon Reports Growing Cyber Security Threats
The “What’s Now and What’s Next” report focuses on eight specific risk areas that companies may face in 2019. Read more >
Franklin Templeton to Acquire Putnam for $925 Million
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
SS&C Adds Allianz Retirement Income Annuity to DC Plan Platform
Smart Acquires Managed Account Provider ProManage
Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say
Retirement Industry People Moves
Schroders announces North American distribution hires; Senior consultant joins PEI; Wise Rhino Group hires managing director; and more. Read more >
Investment Product and Service Launches
FTSE Russell creates index series for asset allocation strategies; Legg Mason reveals short-duration ETF; and Schwab announces additions to ETF OneSource. Read more >
Market Mirror
Friday, the Dow climbed 443.86 points (1.74%) to 25,883.25, the NASDAQ was up 45.46 points (0.61%) at 7,472.41, and the S&P 500 increased 29.87 points (1.09%) to 2,775.60. The Russell 2000 closed 24.14 points (1.56%) higher at 1,569.25, and the Wilshire 5000 gained 310.98 points (1.09%) to finish at 28,804.23. The price of the 10-year Treasury note was down 3/32, increasing its yield to 2.666%. The price of the 30-year Treasury bond was up 2/32, decreasing its yield to 2.996%. WEEK’S WORTH: For the week ending February 15, the Dow gained 3.09%, the NASDAQ was up 2.39%, and the S&P 500 increased 2.50%. The Russell 2000 climbed 4.17%, and the Wilshire 5000 finished 2.66% higher.
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