Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
November 30th, 2020

Advisers Giving Back – Dominic DiPiero at Newport Capital Group

Like many of the subjects of PLANADVISER’s Advisers Giving Back profile series, Domenic DiPiero, founder and president of Newport Capital Group, a registered adviser firm in Red Bank, New Jersey, speaks proudly about his firm’s history of charitable engagement. Read more >
A Final Fiduciary Rule That Could Stick?
The sense of déjà vu associated with the filing of a finalized fiduciary rule by the Department of Labor is palpable, but one ERISA expert says this version could actually stick—for good—despite the pending change in administration. Read more >
Equity Market Records Always Raise Questions
In the same way that significant dips in equity prices cause head scratching and consternation, new market records also present a moment of pause, especially during a pandemic that seems to be worsening once again. Read more >
Retirement Industry People Moves
Beacon Pointe Advisors merges with CBD Wealth Management; Strategic Benefits Advisors hires leader of DB administration team; and Nationwide hires chief data officer. Read more >
Principal Continues Focus on Asset Management, ‘Jet Fuel’ of the Business
2023 Retirement Plan Adviser of the Year Finalists
Biden’s First Veto Keeps DOL’s ESG Rule in Place
Experts Predict Major Growth in Retirement Coverage, Benefits
Complying With the Custody Rule and the New Custody Proposal
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15th Anniversary of RPAY: Innovest Portfolio Solutions
In the six years since it was named the 2014 PLANSPONSOR Retirement Plan Team of the Year, the practice’s assets have grown five-fold to $25.6 billion. Read more >
DeMoulas Super Markets Agrees to $17.5M Settlement
Plaintiffs accused the profit sharing plan sponsor of investing too conservatively and applying an inappropriate one-size-fits-all default investment allocation for participants. Read more >
Nationwide Extends Fee Waiver for New Business
The firm is also offering a 90-day trial period of its managed account solution to retirement plan participants. Read more >
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Excessive 401(k) Fee Suit Filed Against Parent Company of Victoria’s Secret
The lawsuit accuses plan fiduciaries of failing to benchmark recordkeeping fees and failing to monitor investment fees, among other things. Read more >
Investors Less Likely to Heed Advice from Robo Advisers
It appears, according to a survey by Dalbar, that people put more faith in the advice of a human adviser. Read more >
2020 Required Amendments List Published by IRS
The two items that may require an amendment relate to difficulty of care payments treated as compensation for 415 limits, and the application of cooperative and small employer charity pension plan rules. Read more >
Financial Wellness Programs in Greater Demand During COVID-19
Prudential survey finds employees were looking for financial advice and emergency assistance. Read more >
Market Mirror
Friday, the Dow was up 37.90 points (0.13%) at 29,910.37, the NASDAQ climbed 111.44 points (0.92%) to 12,205.85, and the S&P 500 increased 8.70 points (0.24%) to 3,638.35. The Russell 2000 gained 10.25 points (0.56%) to finish at 1,855.27, and the Wilshire 5000 closed 146.59 points (0.39%) higher at 38,057.37. The price of the 10-year Treasury note increased 26/32, bringing its yield down to 0.846%. The price of the 30-year Treasury bond climbed 1 1/32, decreasing its yield to 1.576%. For the week ending November 27, the Dow was up 2.21%, the NASDAQ gained 2.96%, and the S&P 500 increased 2.27%. The Russell 2000 climbed 3.92%, and the Wilshire 5000 finished 2.79% higher.
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