May 20th, 2020

House Passage of Heroes Act Brings Test of Senate’s Stimulus Appetite The close passage of the Heroes Act in the House of Representatives, with 208 yeas and 199 nays, underscores the difficult path ahead for the fourth coronavirus relief package. Read more > ManTech ERISA Challenge Shows Cases Moving Down Market The plan in question has about $800 million in assets, meaning it is quite a bit smaller than many other employers that have faced fiduciary breach lawsuits. Read more > Why It’s Hard to Build ESG Consensus It is not uncommon to get a board of directors or an investment committee together, even in a very unified organization, and find that half the room supports a given cause, while the other half is very much against it. Read more > Sponsors’ Satisfaction With Advisers Remains Relatively High This year’s study also reveals that those plan sponsors working with an adviser made plan design changes at a higher rate than those not working with an adviser, including increasing the automatic enrollment deferral rate (7% higher), adding a Roth contribution option (6% higher) and adding automatic escalation (4% higher). Read more > MOST READ ARTICLES

Managers Warn Stocks Could Fall Further Citing elevated valuations and rising tensions between the U.S. and China, some say a V-shaped recovery is unlikely. Read more > Advisers Giving Back: Atlanta Retirement Partners As the firm’s founder, David Griffin, explains, retirement plan advisers have a particular skillset that can be very useful in coordinating giving efforts during these unprecedented times. Read more > Recordkeepers Holding Steady on Staffing—So Far DCIIA and SPARK surveyed members in early April with regard to the CARES Act and the effects of the coronavirus pandemic. Read more > Market Mirror Tuesday, the Dow fell 390.51 points (1.59%) to 24,206.86, the NASDAQ closed 49.72 points (0.54%) lower at 9,185.10, and the S&P 500 decreased 30.97 points (1.05%) to 2,922.94. The Russell 2000 was down 25.97 points (1.95%) at 1,307.72, and the Wilshire 5000 lost 300.41 points (1.00%) to finish at 29,599.66. The price of the 10-year Treasury note was up 3/32, decreasing its yield to 0.695%. The price of the 30-year Treasury bond increased 5/32, bringing its yield down to 1.421%.

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