Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 12th, 2020

Keeping Up With the Workplace

The financial advising industry has not only a scarcity of women but a well-known diversity gap. In 2018, only 5% of financial advisers identified as black or African American, slightly less than 7% as Asian and 6.6% as Hispanic or Latino, says the Bureau of Labor Statistics’ Current Population Survey (CPS). Read more >
Iowa Finalizes and Adopts Best Interest Standard for Annuities
“Iowans expect their financial professional to act in the consumer’s best interest when recommending an annuity,” says Iowa Insurance Commissioner Doug Ommen. “Iowa not only expects it, but we will require it.” Read more >
Second ADP ERISA MEP Lawsuit Includes a Dozen Counts
The lengthy new complaint stretches over some 150 pages and includes 12 counts that echo those filed last week in a separate lawsuit targeting an ADP multiple employer plan. Read more >
Financial Wellness in a Time of Pandemic
Pandemics are not only a public health crisis, but also a crisis of employee confidence. Tech-savvy advisers and employers can help. Read more >
Tracking Providers’ Responses to COVID-19
Retirement plan recordkeepers have announced fee cuts, service expansions and more. Read more >
TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges
DOL Announces Anticipated ESG Fiduciary Investing Rule
Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns
Retirement Industry People Moves
Calmer Summer Yields to Volatile Fall for U.S. Investors
401(k) Investors Slowed Trading in April
Twelve of 21 trading days favored equity funds, and just nine favored fixed income. Read more >
Small-Plan Governance
“I’m not sure that running an effective committee is even a major concern for small plans because most small companies don’t know that the way to properly run a plan starts with forming a committee.” 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
Yesterday, the Dow closed 109.33 points (0.45%) lower at 24,221.99, the NASDAQ gained 71.02 points (0.78%) to finish at 9,192.34, and the S&P 500 was virtually unchanged at 2,930.19. The Russell 2000 decreased 8.40 points (0.63%) to 1,321.24, and the Wilshire 5000 was down 2.77 points (0.01%) at 29,667.91. The price of the 10-year Treasury note was down 2/32, increasing its yield to 0.711%. The price of the 30-year Treasury bond decreased 1 1/32, bringing its yield up to 1.424%.
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