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| 401(k) Plan Sponsors Focused on Fiduciary Responsibilities | |
| Plan sponsors are seeking retirement advisers who can consult on plan design and performance, with an all-time high of 86% of sponsors having made plan design changes in the last two years, a Fidelity survey finds.Read more > | |
| Products, Deals and People | |
| Retirement Loan Eraser Improves Retirement Outcomes | |
| It makes sense to prevent retirement plan participant loan defaults. Tod Ruble, CEO of Custodia Financial in Dallas, says this is especially true for participants who face circumstances beyond their control—the participant’s death, permanent disability or involuntary job loss. To help with this, Custodia has launched Retirement Loan Eraser (RLE), a guaranteed loan protection program that protects retirement plan accounts from leakage. The insurance will pay off the loan in one lump-sum to prevent default. The payment includes the outstanding balance upon default, plus accrued interest, Ruble says.Read more > | |
| Sponsored message from Betterment for Business LLC | |
| Betterment for Business uses smarter technology to give plan sponsors and participants a better 401(k) experience, from participant advice to a more intuitive interface and mobile access. And because we handle the 401(k) process from start to finish, we’re one of the most efficient and cost-effective providers in the space.Read more > | |
| Market Mirror | |
Yesterday, the Dow gained 21.92 points (0.12%) to finish at 18,573.94, the NASDAQ increased by 1.55 (0.03%) to 5,228.66, and the S&P 500 was up 4.07 points (0.19%) at 2,182.22. The Russell 2000 was down 3.45 points (0.28%) at 1,227.68, and the Wilshire 5000 closed 15.22 points (0.07%) higher at 22,626.40. On the NYSE, 3 billion shares changed hands, with a slight lead for advancing issues. On the NASDAQ, 2.6 billion shares traded, with a 1.4 to 1 ratio of decliners to advancers. The price of the 10-year Treasury note was up 7/32, decreasing its yield to 1.551%. The price of the 30-year Treasury bond increased 22/32, bringing its yield down to 2.265%.
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| Compliance | |
| Columbia University Target of ERISA Excessive Fee Suit | |
| An employee of Columbia University has filed a lawsuit on behalf of participants and beneficiaries in the Retirement Plan for Officers of Columbia University and the Columbia University Voluntary Retirement Savings Plan for breach of fiduciary duties under the Employee Retirement Income Security Act (ERISA). The claims in the lawsuit are similar to lawsuits filed against eight other large universities in the past couple of weeks.Read more > | |
| Investing | |
| Net flows to long-term mutual funds and exchange-traded products (ETPs) totaled $36 billion in July, according to Strategic Insight, an Asset International company. Beyond these aggregate totals, however, the divergence in demand between active and passive strategies remained significant. Passive funds led demand with $61 billion of net commitments (including $43 billion to ETPs), while actively managed mutual funds experienced $25 billion of net redemptions in total during July.Read more > | |
| Discretionary Managers Can Reduce Sponsors' Fiduciary Risks | |
| SEI recommends that retirement plan sponsors hire a discretionary investment manager who can provide greater fiduciary insulation and hire or fire investment managers within a fund, resulting in less disruption when changing the plan’s investment lineup.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1587, Virginia Dare became the first child to be born on American soil of English parents. In 1840, the American Society of Dental Surgeons was founded in New York City. In 1846, General Stephen W. Kearney and his U.S. forces captured Santa Fe, New Mexico. In 1894, the Bureau of Immigration was established by the U.S. Congress. In 1916, Abraham Lincoln’s birthplace was made into a national shrine. In 1940, Canada and the U.S. established a joint defense plan against the possible enemy attacks during World War II. In 1966, the first pictures of earth taken from moon orbit were sent back to the U.S. In 1982, the longest baseball game played at Wrigley Field in Chicago went 21 innings before the Los Angeles Dodgers defeated the Cubs 2-1. In 1990, the first shots were fired by the U.S. in the Persian Gulf Crisis when a U.S. frigate fired rounds across the bow of an Iraqi oil tanker. In 1997, Beth Ann Hogan became the first female student in the Virginia Military Institute’s 158-year history. In 1997, Patrick Swayze received a star on the Hollywood Walk of Fame. | |
| SURVEY SAYS: We all love our pets. But, I’ve often wondered what I would do if faced with a major expense for my pet’s health care. Where would I find the money? A number of employers offer pet insurance to employees, but it can also be purchased from certain providers. This week, I’d like to know, whether you have a pet or not, does your company offer pet insurance as a benefit, and if you do have a pet or pets, do you have health insurance on your pet(s) either through your employer or from a provider? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
| Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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