Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 20th, 2018
Americans to Use Tax Reform Pay Bump for Financial Wellness
A survey of 1,000 Americans found 35.7% of respondents are going to use the money to pay down debt faster, 12.8% are going to use the money to save more for retirement, and 3.5% are going to use the money to invest in the stock market. Read more >
Court Finds ERISA Does Not Preempt Illinois Slayer Statute
Court decision which said “the principle underlying the statutes—which have been adopted by nearly every State—is well established in the law and has a long historical pedigree predating ERISA.” Read more >
Fee, Share Class Shifts at Schwab and Putnam Reflect Vigorous DCIO Competition
Recent interviews with product development executives at Putnam and Charles Schwab show the aggressive steps brand name providers are taking to keep their edge in a highly competitive and unforgiving marketplace. Read more >
Northrop Grumman Gets Some Claims Dropped in Excessive Fee Suit
Northrop was found not to be a fiduciary with respect to certain acts alleged against it; however, it did not escape the failure to monitor fiduciaries complaint. Read more >
Nearly Three-Quarters of Boomers Want to Delay Retirement
Will SCOTUS Decide the Fate of the DOL Fiduciary Rule?
Confusion Abounds After Fifth Circuit Decision Vacates DOL Fiduciary Rule
Many Americans Would Forego Social Security Payments for Student Loan Debt Forgiveness
Retirement Programs Must Continue to Evolve to Address Participant Needs
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Mass. State Securities Market Enforcers Target Scottrade for Sales Contests
The enforcement arm of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth alleges that Scotttrade violated the Massachusetts Uniform Securities Act and related regulations by leveraging sales contests that violated the expanded DOL fiduciary rule. Read more >
Retirement Industry People Moves
Mercer Advisors and GFS Create RIA Firm Integration; Cetera Creates New Channels and Enhances Leadership Team; Nationwide Hires Lead for Retirement Institute; and more. Read more >
Market Mirror
Friday, the Dow finished 19.01 points (0.08%) higher at 25,219.38, the NASDAQ was down 16.97 points (0.23%) at 7,239.47, and the S&P 500 increased by 1.02 points (0.04%) to 2,732.22. The Russell 2000 closed 6.35 points (0.41%) higher at 1,543.55, and the Wilshire 5000 was up 6.45 points (0.02%) at 28,337.62.   The price of the 10-year Treasury note increased 11/32, bringing its yield down to 2.870%. The price of the 30-year Treasury bond climbed 23/32, decreasing its yield to 3.129%.   WEEK’S WORTH: For the week ending February 16, the Dow was up 4.25%, the NASDAQ climbed 5.31%, and the S&P 500 increased 4.30%. The Russell 2000 gained 4.45%, and the Wilshire 5000 finished 4.34% higher.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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