June 1st, 2020

Retirement Plan Cyberfraud Suit Moves On With Claims Against Both Parties A federal judge previously moved forward ERISA claims against retirement plan providers and has recently allowed for a counterclaim by the providers against the plan sponsor. Read more > Lawsuit Calls Into Question Reasons for Fund Changes Plan participants claim prohibited transactions between a plan sponsor and its investment manager relating to a revamp of the plan’s investment lineup. Read more > John Hancock Retirement Unveils Two Digital Tools They are designed to help financial professionals better serve clients in the current digital environment in light of COVID-19. Read more > CFP Board Outlines Enforcement for Revised Ethics Code The board will begin enforcement of the Code of Ethics and Standards of Conduct on June 30. Read more > MOST READ ARTICLES

Retirement Industry People Moves TRA adds newest regional sales consultant; Mercer selects responsible investment leaders; Newport acquires TPA business at Huntington National Bank; and more. Read more > Mind-Body Wellness Employers aim to improve workers’ financial well-being. Read more > Market Mirror Friday, the Dow was down 17.53 points (0.07%) at 25,383.11, the NADAQ closed 120.88 points (1.29%) higher at 9,489.87, and the S&P 500 was up 14.58 points (0.48%) at 3,044.31. The Russell 2000 decreased 6.64 points (0.47%) to 1,394.04, and the Wilshire 5000 increased 161.93 points (0.53%) to 30,925.98.   The price of the 10-year Treasury note was up 4/32, decreasing its yield to 0.651%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 1.410%.   For the week ending May 29, the Dow climbed 3.75%, the NASDAQ was up 1.77%, and the S&P 500 finished 3.01% higher. The Russell 2000 increased 2.84%, and the Wilshire 5000 gained 3.03%.

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