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Weekday news and analysis for retirement plan advisers
Tuesday, September 21, 2021
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COMPLIANCE
L Brands ERISA Lawsuit May Proceed
A judge has determined the fiduciary breach lawsuit filed against the former parent company of Victoria’s Secret and Bath and Body Works, alleging excessive recordkeeping fees and other issues, may proceed to discovery.
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Most Claims Move Forward in Suit Over Aon CITs in 401(k) Plan
A court refused to dismiss most claims against Aon Hewitt Investment Consultants and Centerra Group 401(k) plan fiduciaries.
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
Sponsored by Securian Financial
The Risk of Ignoring PEPs
Advisers need to be prepared for the evolving pooled employer plan marketplace—or they might face the threat of losing business.
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.
PGIM Names Linda Gibson New CEO of QMA
The appointment comes as the firm is preparing to rebrand the quantitative equity and multi-asset solutions specialist to be called PGIM Quantitative Solutions and as it prepares to launch a dedicated defined contribution unit. 
Career Mentor or Advocate?
Underrepresented groups are advancing in financial services, but what helps the most is having a workplace advocate—someone to champion their abilities when they’re not in the room.
Market Mirror Market Mirror Graph

Yesterday, the Dow dropped 614.41 points (1.78%) to 33,970.47, the Nasdaq fell 330.07 points (2.19%) to 14,713.90, and the S&P 500 lost 75.26 points (1.70%) to finish at 4,357.73. The Russell 2000 closed 54.67 points (2.44%) lower at 2,182.20, and the Wilshire 5000 plunged 839.67 points (1.82%) to 45,304.04.

The price of the 10-year Treasury note increased 28/32, bringing its yield down to 1.309%. The price of the 30-year Treasury bond climbed 1 3/32, decreasing its yield to 1.852%.

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