March 12th, 2020

Could Market Volatility (or Recession) Disrupt Record M&A Activity? For some years now, advisory firm owners have enjoyed a sellers’ market that has spurred record merger and acquisition volumes. Will this continue in the case of a recession or prolonged negative market volatility?  Read more > Judge Finds CalSavers Not Preempted by ERISA Unlike the previous time the case was dismissed, the judge decided that granting the plaintiffs leave to amend would be futile because their first amended complaint “is substantially similar to their original complaint.” Read more > Settlement in Invesco Self-Dealing Suit Calls for Additional Plan Investments Parties in a lawsuit accusing fiduciaries of the Invesco 401(k) plan of loading the plan with proprietary investments have agreed to settle for $3,470,000.00. In addition, the defendants agreed to modify the investment options offered through the plan’s self-directed brokerage account (SDBA) so participants will be permitted to invest in non-proprietary exchange-traded funds (ETFs) in addition to the proprietary ETFs offered to participants. Read more > MOST READ ARTICLES 1 CARES Act Update: A Few Important Points About Required Minimum Distributions 2 Hard Choices Ahead About Easing Hardship Withdrawals 3 Stimulus Package Allows Early Withdrawals, Deferred RMDs and More 4 SEC Says Coronavirus Will Not Delay Reg BI, Form CRS 5 Staying Audit Ready in a Turbulent Time

Advisers Giving Back: The CAPTRUST Community Foundation Though its giving efforts are expansive, the CAPTRUST Community Foundation’s vision is singular: ‘Plain and simple, we want to enrich the lives of all children.’ Read more > 2020 PLANADVISER Micro Plan Survey A look at the many services that retirement plan advisers provide to micro plans, i.e. those with less than $5 million in assets, particularly review of fund performance and plan investment selection guidance. Read more > Market Mirror Wednesday, the Dow lost 1,464.94 points (5.86%) to finish at 23,533.22, the NASDAQ closed 392.20 points (4.70%) lower at 7,952.05, and the S&P 500 decreased 140.85 points (4.89%) to 2,741.38. The Russell 2000 dropped 86.60 points (6.41%) to 1,264.30, and the Wilshire 5000 fell 1,490.20 points (5.12%) to 27,597.82. The price of the 10-year Treasury note was down 28/32, increasing its yield to 0.869%. The price of the 30-year Treasury bond fell 2 5/32, increasing its yield to 1.376%.

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