July 30th, 2018

Senator Reintroduces American Savings Act The legislation would establish a personal retirement account for every American that they could take with them from job to job. Read more > Prudential and Raytheon Announce Pension Risk Transfer Deal Raytheon is the latest large employer to enter into a group annuity transaction, transferring nearly $1 billion in benefit obligations to Prudential. Read more > ERIC Calls on DOL to Issue Detailed Missing Participant Guidance The letter also asks that until guidance is provided, for the DOL to stop issuing letters that allege an employer has committed a breach of fiduciary duty with respect to the practices utilized to locate missing retirement plan participants. Read more > Will the More Evenly Divided Senate Tackle HSAs This Year? “Although budget pressures have put limits on some reforms and the Senate outlook this year is dim, the proposed changes indicate the direction that many Republicans and more than a few Democrats would like to take,” writes Tracy Watts, Mercer’s leader on health care reform. Read more > MOST READ ARTICLES

Four Multiemployer Pension Plans Apply to Treasury to Reduce Benefits They are seeking reductions as high as 50%. Read more > Retirement Industry People Moves Wilshire Adds Senior Investment Professionals; Ladenburg Thalmann Invests in Tax Automation Provider; Southern Maryland Insurance Joins The Hilb Group; and more. Read more > Market Mirror Friday, the Dow closed 76.01 points (0.30%) lower at 25,451.06, the NASDAQ lost 114.77 points (1.46%) at 7,737.42, and the S&P 500 Index finished 18.63 points (0.66%) lower at 2,818.82. The Russell 2000 lost 32.02 points (1.89%) to 1,663.34, and the Wilshire 5000 lost 248.98 (0.84%) points to finish at 29,321.74. The price of the 10-year Treasury bond increased 5/32, lowering its yield to 2.958%. The price of the 30-Year Treasury bond increased 9/32, lowering its yield to 3.085%.   WEEK’S WORTH: For the week ending July 27, the Dow closed 1.57% higher, the NASDAQ lost 1.06%, and the S&P 500 increased 0.61%. The Russell 2000 fell 1.97%, and the Wilshire 5000 was up 0.12%.

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