Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 4th, 2020

The Financial Services Industry Can Help Tackle Economic Inequality

Each U.S. household in the bottom half of the wealth distribution has only $20,000 of net worth, on average, a figure that represents less than 0.1% of those at the very top. Helping more people to own homes and to invest even modestly in the stock market are seen as critical steps to closing that gap. Read more >
Phillips 66 ERISA Lawsuit Dismissal Affirmed by 5th Circuit
In a ruling stretching to just 14 pages, the appeals court sides firmly with the lower court that ruled previously in the case in favor of the defense. The underlying allegations in the case involve the 2012 spinoff of Phillips 66 from the ConocoPhillips Corp., a large oil and gas company. Read more >
As CIT Market Expands, More Get Coveted Tickers
Collective investment trusts are becoming more transparent; case in point, Hand Benefits & Trust Co. has gone live with more than 30 CIT tickers on the Nasdaq Fund Network. Read more >
DOL Issues Guidance About Private Equity Investments in DC Plans
An Information Letter addresses private equity investments as a component of a professionally managed asset allocation fund and outlines what plan fiduciaries should consider. Read more >
Principal Continues Focus on Asset Management, ‘Jet Fuel’ of the Business
2023 Retirement Plan Adviser of the Year Finalists
With SECURE 2.0, the Cash Balance DB Plan May Be Back
Biden’s First Veto Keeps DOL’s ESG Rule in Place
Complying With the Custody Rule and the New Custody Proposal
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IRS Provides Relief for Participant Elections Required to Be Witnessed
Notice 2020-42 provides temporary relief from the physical presence requirement for any participant election witnessed by a notary public in a state that permits remote notarization or witnessed by a plan representative using certain safeguards. Read more >
Schwab Offers Integrated Solution for Advisers to Manage HSAs
The firm has teamed up with health care financial services providers Optum Bank and Discovery Benefits. Read more >
Invested in Technology
Technology resources for retirement plans and retirement plan advisers have increased dramatically over the last decade and a half. Whether all of the new entrants to the technology space have been improvements could be debated, depending on whom you ask. Read more >
The Risks of DC Investing
Some risks are ‘participant experienced’ and some ‘participant controlled.’ Read more >
Market Mirror
Wednesday, the Dow climbed 527.24 points (2.05%) to 26,269.89, the NASDAQ was up 74.54 points (0.78%) at 9,682.91, and the S&P 500 increased 42.05 points (1.36%) to 3,122.87. The Russell 2000 closed 33.88 points (2.39%) higher at 1,452.09, and the Wilshire 5000 gained 464.31 points (1.48%) to finish at 31,830.25. The price of the 10-year Treasury note decreased 28/32, bringing its yield up to 0.752%. The price of the 30-year Treasury bond fell 1 2/32, increasing its yield to 1.542%.
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