Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 1st, 2018
Principal Defeats Guaranteed Investment Contract Lawsuit in District Court
At the heart of the complaint were guaranteed investment contracts, a type of group annuity contract sold to retirement plans, issued by Principal to ERISA-covered retirement plan participants. Read more >
House Moves Ahead on Retirement Portions of Tax Reform 2.0
Mostly party-line House action this week included passage of the Family Savings Act, which features key provisions drawn directly from the popular Retirement Enhancement and Savings Act. Read more >
Retirees Slow to Draw Down Assets
They are worried about longevity risk. Read more >
403(b)s Adopting Best Practices
Their use of an adviser acting as a plan fiduciary has increased by 40% in the past four years, according to the Plan Sponsor Council of America. Read more >
Millennials Save More in ETFs and Cash
A Charles Schwab SDBA report says the group allocated to ETFs and saved cash at a higher rate than other generations. Read more >
Another Stressed Union Pension to Get PBGC Support
Retirement Plan Advisers Might Help Lessen ERISA Lawsuits by Adding Defensive Provisions
PPL Corp. and Mass Brigham General Face ERISA Lawsuits
70% of Eligible Employees Have Joined California’s State-Run Retirement Program
District Court Advances TriNet ERISA Lawsuit
Sponsored message from MetLife
Stable value gives employees a stronger capital preservation option
90% of advisors very often recommend stable value
83% of plan sponsors find stable value more attractive than money market
Watch the videos for more insights in the 2017 MetLife Stable Value Study. Read more >
Recordkeeper for 403(b)s With Multiple Providers Updates Platform
The changes streamline the investment, administrative, operational and communication processes for 403(b) participants, plan sponsors and advisers, says IPX. Read more >
JHRPS Announces Cybersecurity Guarantee
John Hancock Retirement Plan Services is offering a guarantee to reimburse eligible participants for unauthorized transfers from their 401(k) retirement accounts. Read more >
Retirement Industry People Moves
PCS Announces Series of Promotions and Hires; CUNA Mutual Grows Sales Force with Addition of Regional VP; USI Selects Retirement Services VP; and more. Read more >
Market Mirror
Friday, the Dow increased 18.38 points (0.07%) to 26,458.31, the NASDAQ was up 4.39 points (0.05%) at 8,046.35, and the S&P 500 was virtually unchanged at 2,913.94. The Russell 2000 closed 6.04 points (0.36%) higher at 1,696.57, and the Wilshire 5000 was up 8.95 points (0.03%) at 30,259.82. The price of the 10-year Treasury note was down 1/32, increasing its yield to 3.059%. The price of the 30-year Treasury bond decreased 14/32, bringing its yield up to 3.208%. WEEK’S WORTH: For the week ending September 28, the Dow fell 1.07%, the NASDAQ gained 0.74%, and the S&P 500 increased 0.54%. The Russell 2000 lost 0.92%, and the Wilshire 5000 finished 0.54% lower.
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