Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 10th, 2020
Aon and Willis Towers Watson Announce Merger
According to the firms, part of the rationale behind the move is that it combines two highly complementary businesses into a technology-enabled global platform that is more relevant and responsive to client needs. Read more >
Counterarguments Filed in ERISA Lawsuit Targeting Teva Pharmaceuticals
The defense says the lawsuit should be dismissed because the plaintiffs’ theory of liability is ‘antithetical to the discretion afforded to ERISA plan fiduciaries in designing a 401(k) plan investment menu and contrary to precedent.’ Read more >
Make Way for Self-Promotion
This past November, the Securities and Exchange Commission (SEC) voted to propose a set of amendments meant to modernize the advertising rules and restrictions applying to financial advisers under the Investment Advisers Act of 1940. In a phrase, the SEC is seeking to move from a blanket prohibition-based approach to a more nuanced and modernized principles-based scheme—a meaningful change in policy the financial services industry has long advocated. Read more >
Wait, SECURE 2.0 Might Not Pass?
Asset Managers Scramble to Offer In-Demand Investment Vehicles
401(k) Robo-Adviser Blooom Shuts Services, Sells Tech to Morgan Stanley
Experts: More Hackers Going After Retirement Savings
Near-Retirees May Be at Risk for Retirement Income Shortfall
The Obligation to Save Social Security
With the recent passage of the Setting Every Community Up for Retirement Enhancement Act, advisers and other retirement plan service providers have an opportunity to build on their successful lobbying effort. Read more >
Beyond the Daily Market Moves, Opportunity Awaits
Significant volatility will persist for the foreseeable future, experts agree, but the long-term return opportunity in the stock and bond markets remains strong. Read more >
Market Mirror
Yesterday, the Dow plunged 2,013.76 points (7.79%) to 23,851.02, the NASDAQ fell 624.94 points (7.29%) to 7,950.68, and the S&P 500 lost 225.81 points (7.60%) to finish at 2,746.56. The Russell 2000 dropped 135.79 points (9.37%) to 1,313.43, and the Wilshire 5000 plummeted 2,383.12 points (7.90%) to 27,774.79. The price of the 10-year Treasury note increased 2 1/32, bringing its yield down to 0.557%. The price of the 30-year Treasury bond climbed 7 32/32, decreasing its yield to 1.006%.
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