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Weekday news and analysis for retirement plan advisers
Friday, September 30, 2022
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Compliance
Gomez Confirmed as New Head of EBSA
PA-092922-LisaCspan_GomezVote_092922-web
The full Senate voted, 49-36, to confirm Lisa Gomez as the new assistant secretary of labor for the Employee Benefits Security Administration.
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Wells Fargo Is Targeted in ERISA Lawsuit Alleging Self-Dealing
The Wells Fargo retirement plan fiduciaries are accused of engaging in prohibited transactions and breaching their fiduciary duty to participants.
Today’s Most Read
1. DOL Finalizes Rule Opening Door to ESG Investing in Retirement Plans
2. Plan Advisers Value Trustworthiness, “Personal” Touch from DC Recordkeepers
3. Advisers Get Long-Awaited Clarity on ESG in Retirement Plans
Investment Product and Service Launches
New York Life launches Wealth Plus; Vanguard to liquidate U.S. Liquidity Factor ETF; John Hancock Investment Management announces ETF lineup changes; and more.
IRS Extends Plan Amendment Deadlines for CARES Act Provisions
Deadlines have also been extended to amend plans for certain provisions of the Taxpayer Certainty and Disaster Tax Relief Act.
Annuities’ Bad Rap
Research shows a link between a good comprehension of annuities and a more favorable view of the products; unfortunately, annuity know-how remains low among individual investors.
Market Mirror Market Mirror Graph

Thursday, the Dow fell 458.13 points (1.54%) to end trading at 29,225.61, the Nasdaq decreased 314.13 points (2.84%) to close at 10,737.506 and the S&P 500 decreased 78.57 points (2.11%) to close at 3,640.47. The Russell 2000 was down 40.31 points (2.35%) to close at 1,674.93 and the Wilshire 5000 was down 814.39 points (2.19%) to close at 36,324.00.

 

The price of the 10-year Treasury note decreased 3/32 brining the yield up to 3.775%. The price of the 30-year Treasury bond decreased 2/32 bringing the yield up to 3.713%.

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