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Weekday news and analysis for retirement plan advisers
Tuesday, July 06, 2021
Exclusives | Awards | Research | Events
High Court Agrees to Review Northwestern University ERISA Suit
The U.S. Supreme Court has agreed to review the case of Hughes v. Northwestern University. The Supreme Court’s review could answer the question of what qualifies as a plausible claim for relief in DC plan excessive investment and recordkeeping fee suits.
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Retirement Industry People Moves
Putnam Investments announces developments to GAA team; Virtus Investment Partners enters acquisition with Stone Harbor; distribution head joins OneAmerica Retirement Services; and more.
Today’s Most Read
1. 2023 PLANADVISER Top Retirement Plan Advisers
2. 2023 PLANADVISER Top Retirement Plan Advisers
3. Why 529 Education Savings Plans Are More Valuable Than Ever
Hidden Commissions, Fraud Alleged in New Fiduciary Breach Lawsuit
Plaintiffs in a lawsuit filed in Tennessee say their adviser never disclosed that he received a commission on the sale of certain life insurance products and allegedly made substantial misrepresentations about how client dollars were being used.
DOL Addresses Question About Providing Audio Recordings to ERISA Claimants
The requirement to produce requested documents and the definition of relevant documents addressed in a DOL information letter applies to retirement plans, an attorney tells PLANADVISER.
Producers Beware: More States Adopt NAIC Annuity Suitability Framework
Earlier this month, Alabama became the 13th state to adopt enhanced consumer protections for purchasers of annuities, based on a framework put forward by the National Association of Insurance Commissioners.
Caution Needed Regarding Rollovers
Many recommendations may now be investment advice.
Market Mirror Market Mirror Graph

Friday, the Dow increased 152.82 points (0.44%) to 34,786.35, the Nasdaq climbed 116.95 points (0.81%) to 14,639.33, and the S&P 500 gained 32.40 points (0.75%) to finish at 4,352.34. The Russell 2000 fell 23.60 points (1.01%) to 2,305.76, and the Wilshire 5000 closed 249.61 points (0.55%) higher at 45,563.37.

The price of the 10-year Treasury note was up 2/32, decreasing its yield to 1.437%. The price of the 30-year Treasury bond increased 26/32, bringing its yield down to 2.046%.

For the week ending July 2, the Dow was up 1.02%, the Nasdaq climbed 1.94%, and the S&P 500 gained 1.67%. The Russell 2000 finished 1.23% lower, and the Wilshire 5000 increased 1.17%.

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