May 10th, 2018

RIAs Predict 41% of New Clients Will Be Gen X, Millennials by 2023 This will mean shifting their current focus from Baby Boomers, TD Ameritrade learned in a survey. Read more > ESOP Participants to Receive More Than $2 Million for Overpayment of Stock A federal district court has entered a consent judgment requiring the fiduciaries of the Sonnax Industries’ employee stock ownership plan (ESOP) to pay $2,225,000 to the plan. Read more > Millennials Learned to Save, But Not How to Invest Half of Millennials expect to retire with financial stability, although most admit they do not know how to successfully invest, PNC Investments found in a survey. Read more > Most Workers Willing to Pay More for Better Retirement Benefits But less than half are willing to do the same for better health care benefits, Willis Towers Watson learned in a survey. Read more > Half of Couples Discuss Retirement Savings 20-somethings are more apt to broach the topic than are pairs in their 30s and up Read more > MOST READ ARTICLES 1 Stimulus Bill Extends Some Provisions of the CARES Act 2 Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients 3 Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals 4 Many Near-Retirees Don't Understand Social Security Benefits 5 Once They Catch On, PEPs Could Grow Exponentially

Sponsored message from Covisum The Elephant and The Snowball How Advisors Can and Should Talk Taxes with Clients. Download the White Paper. Read more > Plan Sponsor Returns Declined in First Quarter This is the first dip since the third quarter of 2017, according to BNY Mellon Read more > Remind 403(b) Plan Clients to File Form 990 Failure to do so could result in their tax-exempt status being revoked, which will affect their ability to offer 403(b) plans. Read more > MetLife to Take On Pension Benefits for FedEx Retirees and Beneficiaries Approximately 41,000 FedEx retirees and beneficiaries in defined benefit pension plans will receive annuity benefits. Read more > Market Mirror Wednesday, the Dow increased 182.33 points (0.75%) to 24,542.54, the NASDAQ climbed 73.00 points (1.00%) to 7,339.91, and the S&P 500 gained 25.87 points (0.97%) to finish at 2,697.79. The Russell 2000 was up 9.66 points (0.61%) at 1,596.05, and the Wilshire 5000 closed 250.02 points (0.90%) higher at 28,078.62.   The price of the 10-year Treasury note was down 6/32, increasing its yield to 3.001%. The price of the 30-year Treasury bond decreased 17/32, bringing its yield up to 3.159%.

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