November 3rd, 2020

Lawsuit Claims Underperforming TDFs Caused $65M Loss to 401(k) A former participant in the Allstate 401(k) plan accuses plan fiduciaries of keeping poorly performing target-date funds on the investment menu and as the plan’s default investment. Read more > DOL’s Final ESG Rule Appears Slightly Softer Than Proposal The final version of the regulation emphasizes the importance of using only ‘pecuniary’ factors in the assessment of investment options within tax-qualified retirement plans, rather than expressly limiting the use of environmental, social and governance themed investments. Read more > Encouraging Young Part-Time Employees to Save for Retirement Financial advisers can help part-time employees who will be newly eligible for retirement plans under the SECURE Act get familiar with savings concepts. Read more > Mercer Announces Plans to Launch PEP in 2021 The consultant has selected Empower Retirement as a recordkeeper for its outsourced 401(k) solution as well as for the intended pooled employer plan. Read more > MOST READ ARTICLES

Sponsored message from PLANADVISER PLANADVISER Thought Leadership gives retirement plan advisers the knowledge they need for business success. Click here to learn more Read more > Gen Z Workers Need Financial Advice Financial challenges should be addressed before saving for retirement can be effective. Read more > Retirement Industry People Moves TRA hires Texas and Louisiana regional sales consultant; DWS selects head of wealth practice; Bar Harbor Trust Services announces new retirement plan coordinator; and more. Read more > Market Mirror Yesterday, the Dow climbed 423.45 points (1.60%) to 26,925.05, the NASDAQ was up 46.02 points (0.42%) at 10,957.61, and the S&P 500 closed 40.28 points (1.23%) higher at 3,310.24. The Russell 2000 increased 7.02 points (0.45%) to 1,568.59, and the Wilshire 5000 gained 403.62 points (1.20%) to finish at 34,128.43.   The price of the 10-year Treasury note was up 3/32, decreasing its yield to 0.848%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 1.617%.

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