Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 3rd, 2019
Georgetown University Lawsuit Plaintiffs Asked Too Late to Amend Complaint
The denial of leave to file an amended complaint by a district court judge offers a brief lesson in Federal Rules of Civil Procedure. Read more >
Hardship Withdrawals Spiked, Loans Dipped After Bipartisan Budget Act
The Bipartisan Budget Act of 2018 made it easier for retirement plan participants to access hardship withdrawals without taking loans first; since passage of the law, hardships withdrawals are up 40% in Fidelity’s book of business. Read more >
A Couple May Need $363,000 to Cover Health Care Expenses in Retirement
Medicare covers only 64% of the cost of health care for those 65 and older, according to EBRI. Read more >
PCS Recordkeeping System Integrates Fi360 Toolkit
The integration allows advisers to access client data in their Fi360 Toolkit, according to the firms, with the goal of streamlining business processes and better serving clients’ needs. Read more >
Retirement Plan Cybersecurity the Issue in a New Lawsuit
How Retirement Plan Advisers Justify Their Fees
Broadridge Acquisition of Fi360 Underlines RIA Fiduciary Evolution
IRS Plan Includes Guidance on Student Loan Payments and Retirement Plans
The SEC's Standard on IRA Rollovers
Retirement Industry People Moves
Cohen & Steers adds global marketing head; Insight Investment hires leader of marketing in North America; and Transamerica brings in directors of client engagement and retirement strategy. Read more >
Are Personal Advisers ERISA Fiduciaries?
Maybe yes, if advising about a 401(k). Read more >
Market Mirror
Friday, the Dow lost 354.84 points (1.41%) to finish at 24,815.04, the NASDAQ closed 114.57 points (1.51%) lower at 7,453.15, and the S&P 500 decreased 36.80 points (1.32%) to 2,752.06. The Russell 2000 was down 20.04 points (1.35%) at 1,465.49, and the Wilshire 5000 fell 378.87 points (1.32%) to 28,369.44.   The price of the 10-year Treasury bond increased 30/32, bringing its yield down to 2.129%. The price of the 30-year Treasury bond climbed 1 27/32, decreasing its yield to 2.573%.   WEEK’S WORTH: For the week ending May 31, the Dow lost 3.01%, the NASDAQ was down 2.41%, and the S&P 500 decreased 2.62%. The Russell 2000 fell 3.21%, and the Wilshire 5000 finished 2.67% lower.

Editorial: Alison Cooke Mintzer


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