January 22nd, 2021

Schlichter Strikes Again, This Time Against Takeda Pharma’s 401(k) The lawsuit alleges that plan fiduciaries selected unproven TDFs for the plan, failed to monitor them and failed to replace them when they underperformed. Read more > HUB Names New Leader for Retirement and Private Wealth PLANADVISER has learned that HUB International has named Joe DeNoyior as the new leader for Retirement and Private Wealth Read more > Mercedes-Benz Is Latest National Brand to Face ERISA Litigation Similar complaints have met different fates in the courts, based largely on the degree to which judges feel the preliminary case documents sufficiently allege that imprudent or disloyal actions may have occurred. Read more > 2021 PLANSPONSOR Plan Adviser of the Year Nominations Open Nominations for the 2021 PLANSPONSOR Retirement Plan Adviser of the Year awards may be made by plan sponsor clients, employers, brokers/dealers of eligible advisers, as well as from working partners of these advisers. Read more > MOST READ ARTICLES 1 Experts Predict Major Growth in Retirement Coverage, Benefits 2 Why 529 Education Savings Plans Are More Valuable Than Ever 3 Advisers Recommend Fiduciary Outsourcing Services, Mostly for Small Plans 4 Biden’s First Veto Keeps DOL’s ESG Rule in Place 5 A Reminder to Avoid Fraudulent Hardship Withdrawals

New DOL ESG Guidance Expected to Encourage More Plan Adoption TIAA says a variable annuity and mutual funds that take an ESG approach are widely used on its retirement plan platforms. Read more > Investment Product and Service Launches Charles Schwab releases variable annuity options; Vanguard announces plans to launch ultra-short bond ETF; and Annexus Retirement Solutions releases Lifetime Income Builder. Read more > Market Mirror Thursday, the Dow was down 12.37 points (0.04%) at 31,176.01, the NASDAQ increased 73.67 points (0.55%) to 13,530.92, and the S&P 500 was up 1.22 points (0.03%) at 3,853.07. The Russell 2000 closed 9.72 points (0.45%) lower at 2,141.42, and the Wilshire 5000 decreased 19.62 points (0.05%) to 40,809.52.   The price of the 10-year Treasury note decreased 24/32, bringing its yield up to 1.112%. The price of the 30-year Treasury bond fell 31/32, increasing its yield to 1.871%.

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