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 >
The New Vesting Schedule Debate
More TDF Underperformance ERISA Lawsuits Filed
Why Are Financial Services Firms Looking to Wealth Management Leaders?
The Future of Work in the Investment Industry
The Most ‘Outrageous’ ERISA Complaints Yet Filed?
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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