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Weekday news and analysis for retirement plan advisers
Friday, October 01, 2021
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From the Magazine
Participant Misperceptions
“Some of the most harmful misconceptions that participants have have to do with feeling that retirement plans are so complicated that a person can’t make prudent decisions,” says Molly Beer, an executive vice president in the retirement plan consulting practice at global insurance brokerage Gallagher. “The mere idea of using the plan to get themselves to retirement can feel overwhelming.”
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Dismissal Motions Fail in Allstate ERISA Lawsuit
The ruling breaks from other district court orders that have held ERISA plaintiffs lack Article III standing to bring claims regarding funds in which they did not personally invest.
Today’s Most Read
1. TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges
2. Plaintiffs Claim Deloitte Breached ERISA Prudence Duties
3. DOL Announces Anticipated ESG Fiduciary Investing Rule
PANC 2021: We (and You) Inspire. Promote. Network.
WIPN leaders and industry partners highlighted important practices when incorporating diversity in an advisory firm.
Prudential Defeats Fiduciary Breach Lawsuit
The underlying complaint was dismissed ‘without prejudice,’ meaning the plaintiff can attempt to replead the claims in a way that satisfies the rules of standing.
Protecting Elderly Clients From Financial Abuse
Sources offer lessons learned from thousands of potential elder abuse investigations, highlighting red flags and revealing the harm that can befall clients; for example, those victimized by a loved one lose nearly three times as much on average to fraud or theft as those victimized by a stranger.
PANC 2021: What the [ESG] F?
A panel presented by ISS ESG discussed the history of sustainable investing and what could change for the future.
Market Mirror Market Mirror Graph

Thursday, the Dow fell 546.80 points (1.59%) to 33,843.92, the Nasdaq closed 63.86 points (0.44%) lower at 14,448.58, and the S&P 500 decreased 51.92 points (1.19%) to 4,307.54. The Russell 2000 was down 20.94 points (0.94%) at 2,204.37, and the Wilshire 5000 lost 482.07 points (1.06%) to finish at 44,850.03. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.505%. The price of the 30-year Treasury bond was unchanged, with its yield at 2.064%.

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