Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 30th, 2020
Congress Passes $2 Trillion Coronavirus Stimulus Package
Retirement plan professionals who have navigated a severe natural disaster in their region will recognize many of the retirement plan-focused relief provisions to be implemented by Congress. Read more >
Parties in Asset-Based Fee Suit Against Nationwide Settle
At one point, the plaintiff was proposing a defendant class of all sponsors of smaller 401(k) plans that entered into program agreements with Nationwide through its Retirement Flexible Advantage Retirement Plans Program. Read more >
Lawsuit Questions Differing Investment Terms for 401(k) and DB Plan
The lawsuit accuses Nationwide 401(k) plan fiduciaries of not negotiating terms for a fixed-income contract comparable to that for its DB plan for the purpose of increasing its subsidiary’s profits. Read more >
Coronavirus News for Plan Advisers
Focused analysis of market movements, business challenges and legislative and regulatory actions. Read more >
Plaintiffs Claim Deloitte Breached ERISA Prudence Duties
Only 31% of Hispanic Workers Participate in a Workplace Retirement Plan
TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges
A Year of Disruption Spotlights Tech, Cybersecurity
Retirement Industry People Moves
Sponsored message from John Hancock
State of the participant 2020: readiness within reach
Reflections on retirement readiness and ideas for improvement Read more >
Investment Product and Service Launches
Innovator expands Defined Outcome ETF suite; Vanguard merges Capital and Windsor funds; and IHS Markit delays rebalancing actions on indices. Read more >
Consolidation Pressures
2019 breaks M&A records. Read more >
Market Mirror
Friday, the Dow lost 915.39 points (4.06%) to finish at 21,636.78, the NASDAQ closed 295.16 points (3.79%) lower at 7,502.38, and the S&P 500 decreased 88.60 points (3.37%) to 2,541.47. The Russell 2000 was down 48.33 points (4.09%) at 1,131.99, and the Wilshire 5000 fell 885.01 points (3.35%) to 25,500.40.  The price of the 10-year Treasury note increased 1 6/32, bringing its yield down to 0.688%. The price of the 30-year Treasury bond climbed 4 29/32, decreasing its yield to 1.260%.   For the week ending March 27, the Dow gained 12.84%, the NASDAQ was up 9.05%, and the S&P 500 increased 10.26%. The Russell 2000 gained 11.63%, and the Wilshire 5000 finished 10.48% higher.
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