| John Hancock Latest to Face DC Plan ERISA Self-Dealing Lawsuit | |
The self-dealing lawsuit suggests the firm failed to monitor or control the plan’s administrative expenses, allegedly costing the plan millions of dollars in excessive administrative fees.
Read more > | | | MEPs and PEPs | | The SECURE Act, beginning in 2021, allows for the creation of PEPs, which are closer to the open MEPs many advisers had envisioned making available to employers. A PEP is a single plan under the Employee Retirement Income Security Act and need file only one Form 5500 and receive only one annual audit by an independent certified public accountant.
Read more > | | | Men as Advocates | | While we’ve had great support from men at the corporate and regional sponsorship levels, several of them had reached out, asking what more they could do. The WiPN board gave much thought to why hiring women, along with others in an effort to foster diversity, was important and what advocacy should mean.
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| Plan Size, Average Account Balance Are Drivers of Plan Fees | |
Small 401(k) plans have larger costs than large 401(k) plans, but even plans with the same total assets can have different costs, an analysis from the 401k Averages Book shows.
Read more > | | | Make It Last | | Participants must choose income products that meet their individual needs.
Read more > | | | Vestwell Enhances Retirement Plan Platform | |
The enhanced platform enables advisers, payroll companies and enterprise partners to focus on their core competencies.
Read more > | | | Market Mirror | | Yesterday, the Dow bounced back 1,293.96 points (5.09%) to 26,703.32, the NASDAQ climbed 384.80 points (4.49%) to 8,952.17, and the S&P 500 gained 136.01 points (4.60%) to finish at 3,090.23. The Russell 2000 closed 42.06 points (2.85%) higher at 1,518.49, and the Wilshire 5000 recovered 1,291.38 points (4.29%) to finish at 31,416.46.
The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.144%. The price of the 30-year Treasury bond fell 29/32, increasing its yield to 1.705%.
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