Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 14th, 2018
Wells Fargo Faced With Revenue Sharing Lawsuit
Despite Wells Fargo’s admission and resolution of an error, the Chattanooga Fire & Police Pension Fund wants an accounting of all compensation the bank received while it was trustee of the fund. Read more >
DOL Wins Restitution of Misused 401(k) Assets
A federal district court has ordered eye-care company Eye Centers of Tennessee LLC, its owner Dr. Larry E. Patterson, and its office administrator Raymond K. Mays to pay $971,622 in restitution to the company’s 401(k) plan. Read more >
Bill Introduced to Help Small Businesses Offer ESOPs
It would provide $500 million in support of employee stock ownership plan (ESOP) programs and would operate through the Small Business Administration. Read more >
Knowledge of Retirement Plan Fees Lacking by Small Businesses
Only 19% of the small to mid-size business leaders said they are “very familiar” with their retirement plan fees, while 34% said they are “not at all familiar” with those fees. Read more >
‘Dilution’ Can Derail Outperformance in Institutional Factor-Based Portfolios
In conversation with PLANADVISER, Northern Trust Asset Management’s head of quantitative research steps through some of the pros and cons of using factor-based portfolios and so called smart-beta strategies; he sees big opportunities, but also warns about the “dilution” phenomenon. Read more >
6th Circuit Backs Defense in Fidelity Freedom Funds ERISA Suit
Ready for PTE 2020-02 July 1 Enforcement?
Olin Corp. Soundly Defeats ERISA Lawsuit
Retirement Industry People Moves
Senate Finance Committee Advances EARN Act
Sponsored message from ADP
The New Tax Law
Why it might make deferred comp programs even more attractive. Click to read. Read more >
VALIC, RetireUp Offer Retirement Plan Participant Planning Tool for Advisers
Retirement Pathfinder is dynamic, allowing for ad-hoc changes and a host of different scenarios. Read more >
Retirement Industry People Moves
Barrow, Hanley Hires Director of Client Development for Fixed Income Strategies; Former SEC Counsel Joins Morrison & Foerster as Partner; Transamerica Veterans Expand Distribution Roles; and more. Read more >
Market Mirror
Friday, the Dow gained 91.64 points (0.37%) to finish at 24,831.17, the NASDAQ was down 2.09 points (0.03%) at 7,402.88, and the S&P 500 increased 4.65 points (0.17%) to 2727.72. The Russell 2000 closed 3.08 points (0.19%) higher at 1,606.79, and the Wilshire 5000 was up 43.55 points (0.15%) at 28,353.38.   The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.965%. The price of the 30-year Treasury note was up 12/32, decreasing its yield to 3.101%.   WEEK’S WORTH: For the week ending May 11, the Dow was up 2.34%, the NASDAQ climbed 2.68%, and the S&P 500 finished 2.41% higher. The Russell 2000 gained 2.63%, and the Wilshire 5000 increased 2.36%.
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