Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 24th, 2020

The Alternative Workplace

Retirement plan practices, now prepared to work remotely, need to stay prepared, says Todd Kading, president and co-founder of LeafHouse Financial, in Austin, Texas. To do this requires an investment in technology, he says. Read more >
DOL Proposes Stricter Rules About ESG Investing in Retirement Plans
“Private employer-sponsored retirement plans are not vehicles for furthering social goals or policy objectives that are not in the financial interest of the plan,” says Secretary of Labor Eugene Scalia. Read more >
Second Circuit Maintains Ruling in IBM Stock Drop Suit
The plaintiffs in Retirement Plans Committee of IBM v. Larry W. Jander had alleged the tech giant’s management of its employee stock ownership plan (ESOP) was imprudent, citing a drop in IBM common stock by more than $12 per share Read more >
IRS Establishes CARES Act RMD Rollback Framework
The Internal Revenue Service (IRS) has published Notice 2020-51, through which it is providing rollover relief for required minimum distributions (RMDs) from retirement accounts that were waived under the Coronavirus Aid, Relief and Economic Security (CARES) Act. Read more >
Remember the Real Role of Stable Value
The annualized return from 2000 to 2020 is 4.22% for stable value and 5.25% for stocks. One might expect the difference to be greater. Read more >
Practice Progress Webinar Series
Each month, the editors of PLANADVISER will bring together industry experts to discuss practice management, client service, compliance, investments and more. Read more >
Excessive Fee ERISA Complaint Targets Cook Group
Barnabas Health Latest to Settle ERISA Suit
An Update on the SEC’s Private Fund Rule
Kellogg Faces ERISA Managed Account Fee Complaint
Strategies for Reining In Health Care Costs in Early Retirement
Aon and Voya Team on Pooled Employer Plan
Aon has announced the launch of a new pooled employer plan (PEP) to be recordkept by Voya. 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 >
Voices: An Uptick in Customer Arbitration?
When there is a downturn in the markets, claims against broker/dealers (B/Ds) and investment advisers tend to increase. For example, 8,945 arbitrations were filed in 2003 in response to the declining markets associated with the “tech wreck.” As markets recovered, claims lessened and reached a low of 3,238 in 2007. Read more >
SEC’s Punitive Authority Tested by Latest SCOTUS Ruling
A nearly unanimous Supreme Court has seemingly set new limits on the punitive authorities of the U.S. Securities and Exchange Commission (SEC), though just how much has changed is up for debate. Read more >
Market Mirror
Tuesday, the Dow climbed 131.14 points (0.50%) to 26,156.10, the NASDAQ closed 74.89 points (0.74%) higher at 10,131.37, and the S&P 500 increased 13.43 points (0.43%) to 3,131.29. The Russell 2000 was up 5.81 points (0.41%) at 1,439.34, and the Wilshire 5000 gained 124.76 points (0.39%) to finish at 31,946.16. The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.715%. The price of the 30-year Treasury bond decreased 6/32, bringing its yield up to 1.490%.
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