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Weekday news and analysis for retirement plan advisers
Friday, May 14, 2021
Exclusives | Awards | Research | Events
Compliance
Judge Moves Forward Wells Fargo 401(k) Self-Dealing Suit
The suit alleges that defendants used the plan to increase their own revenue and seed new funds. 
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Compliance
Industry and Congress Agree the Coverage Gap Is a Big Problem
Witnesses at a retirement security hearing held Thursday by the Senate HELP Committee all spoke about the central importance of closing the defined contribution plan coverage gap.
Today’s Most Read
1. 2023 Retirement Plan Adviser of the Year Finalists
2. Retirement Advisers Increasingly Want PEP Option in Toolbox
3. A Reminder to Avoid Fraudulent Hardship Withdrawals
Americans Are Becoming More Optimistic About the Economy
As more people are getting vaccinated, they expect pent-up demand will lead to a boost. 
ESG Investments Can Lead to Higher Contribution Rates
More plan participants are increasing their demand for and interest in environmental, social and governance funds. 
Record Balances: DC Plan System Continues to Thrive
Fresh data shared this week by Principal and Fidelity shows defined contribution retirement plan balances have—yet again—reached record highs, but the data underscores the need to improve access for more workers.
Investment Product and Service Launches
Putnam Investments presents TDF evaluation tool; J.P. Morgan and Nationwide launch investment product; and OneDigital adds downside risk protection to adviser managed accounts solution; and more.
Market Mirror Market Mirror Graph

Thursday, the Dow gained 433.79 points (1.29%) to finish at 34,021.45, the Nasdaq was up 93.31 points (0.72%) at 13,124.99, and the S&P 500 closed 49.46 points (1.22%) higher at 4,112.50. The Russell 2000 climbed 35.81 points (1.68%) to 2,170.95, and the Wilshire 5000 increased 447.73 points (1.06%) to 42,656.28.

 

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.658%. The price of the 30-year Treasury bond was up 4/32, decreasing its yield to 2.393%.

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