Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 13th, 2020
Union Pension Partitions Included in Democrat’s 4th Relief Proposal
The draft of the legislation, which will likely be subject to debate and amendment, at this stage includes a number of retirement-focused provisions, including ‘special partition relief’ for struggling union pensions. Read more >
Franklin Templeton Details Ambitious Technology Plans
With the acquisition of AdvisorEngine, Franklin Templeton expects to enable its independent adviser partners to efficiently deliver goals-based financial planning at scale—including in the retirement plan context. 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 >
MOST READ ARTICLES
1
$300 Million Plan Faces ERISA Fiduciary Breach Lawsuit
2
Three New ERISA Lawsuits Bash Actively Managed TDFs
3
Another Lawsuit Challenges Use of Untested CITs in 401(k) Plan
4
DOL Aims to Quickly Simplify Conflict of Interest Framework
5
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
‘Gray Divorce’ on the Rise
More and more older couples are calling it quits, and the financial ripples extend far beyond property division. “This upward trend in couples divorcing over the age of 50 has created a recent swirl among the estate planning industry,” says Ray Radigan, head of private trust at TD Wealth. “‘Gray divorce’ is adding another layer of complexity to the estate planning process that already arises with blended families, designation of heirs and the ever-changing domestic structures.” Read more >
On Small Plans and Large
Any size plan could be a target for fee litigation. Read more >
The Coronavirus Is Adding to U.S. Economic Inequality
One positive point in some otherwise sobering data is the role that defined contribution (DC) plans play in helping middle class Americans generate a stable financial future. Read more >
Market Mirror
Tuesday, the Dow was down 457.21 points (1.89%) at 23,764.78, the NASDAQ closed 189.79 points (2.06%) lower at 9,002.55, and the S&P 500 decreased 60.20 points (2.05%) to 2,870.12. The Russell 2000 fell 45.70 points (3.46%) to 1,275.54, and the Wilshire 5000 lost 640.04 points (2.16%) to finish at 29,027.68. The price of the 10-year Treasury note was up 4/32, decreasing its yield to 0.672%. The price of the 30-year Treasury bond increased 1 2/32, bringing its yield down to 1.372%.
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