Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 27th, 2020
Lengthy Mixed Ruling Issued in Banner Health ERISA Litigation
After years of litigation and an eight-day bench trial, neither side can claim complete victory in the complicated case of Ramos v. Banner Health. Read more >
Judge Gives Parties in Cornell 403(b) Suit Options for Proceeding
A federal judge noted that the pandemic will affect civil jury trials in the Southern District of New York “for a considerable and presently unknowable time to come.” Read more >
Appeals Court Revives Parts of Washington University 403(b) Lawsuit
The United States Court of Appeals for the 8th Circuit has ruled in the case known as Davis v. Washington University, reversing and remanding key parts of the litigation for further review by a lower court. Read more >
Winners Circle: Invested in Technology
Technology resources for retirement plans and retirement plan advisers have increased dramatically over the last decade and a half. Whether all of the new entrants to the technology space have been improvements could be debated, depending on whom you ask. Read more >
BlackRock Offers Solution That Provides Retirement Paycheck
Two insurers have joined the effort to make lifetime income available in a simplified manner. Read more >
New Program Applies Cash Back on Purchases to Student Loans automatically directs cash back users receive to the purchaser’s student loan with the highest interest rate. Read more >
2020 Top 100 Retirement Plan Advisers
This year, as last, the firms fall under the following headings: individual adviser—meaning one adviser and support staff; small team—a group of two or more advisers and support staff, the total not exceeding 10; large team—a group of 11 through 35 advisers and support staff; and mega teams—36 or more team members in all. Read more >
Market Mirror
Tuesday, the Dow climbed 529.95 points (2.17%) to 24,995.11, the NASDAQ was up 15.63 points (0.17%) at 9,340.22, and the S&P 500 increased 36.32 points (1.23%) to 2,991.77. The Russell 2000 closed 45.52 points (3.38%) higher at 1,393.07, and the Wilshire 5000 gained 401.15 points (1.34%) to finish at 30,417.45. The price of the 10-year Treasury note was down 4/32, increasing its yield to 0.698%. The price of the 30-year Treasury bond decreased 1 4/32, bringing its yield up to 1.435%.
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