Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 28th, 2020

Advisers as Advocates for Systemic Change

“We must find middle ground and, in my view, the adviser, broker and asset management community has an important role to play. We have a responsibility to do something and an opportunity to make a big impact—to actually make a difference.” Read more >
Where Are They Now? A Mother-Daughter Team at Cafaro Greenleaf
Dorann Cafaro, one of the earliest winners of the Retirement Plan Adviser of the Year award, has retired from the practice. Her daughter, Jamie Greenleaf, says the focus hasn’t wavered since 2006. Read more >
John Hancock ERISA Challenge Moves Ahead Digitally
The self-dealing lawsuit suggests the firm failed to monitor or control the plan’s administrative expenses, allegedly costing the plan millions of dollars in excessive administrative fees over the course of the class period. Read more >
Who Gets the Client Relationship Summary?
If a plan fiduciary has engaged you to provide advisory services about the investment options offered on the plan lineup, the Form CRS obligation will not generally apply, because the fiduciary is not seeking services primarily for personal, family or household purposes. Read more >
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Four Things to Know About Changes to Employer Contributions
Employees More Focused on Financial Planning Related to Life Events
Employees surveyed said their ideas and feeling about money varied greatly throughout each life stage, and 40% identified more with others who are going through similar life events than those in defined generations. Read more >
Evaluating Reg BI Compliance
Firms should not assume that they can stop working on their compliance policies and procedures after June 30. The OCIE will look to see which firms “make such modifications as may be necessary and appropriate, in light of information gained from the implementation process and other facts and circumstances.”  Read more >
Transamerica Offers Suite of Health Savings, Spending Accounts
The offerings include an HSA, HRA and FSA. Read more >
Market Mirror
Yesterday, the Dow was up 114.88 points (0.43%) at 26,584.77, the NASDAQ climbed 173.09 points (1.67%) to 10,536.27, and the S&P 500 increased 23.78 points (0.74%) to 3,239.41. The Russell 2000 gained 17.10 points (1.16%) to finish at 1,484.65, and the Wilshire 5000 closed 283.10 points (0.86%) higher at 33,086.38. The price of the 10-year Treasury note was down 2/32, increasing its yield to 0.607%. The price of the 30-year Treasury bond decreased 27/32, bringing its yield up to 1.254%.
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