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Defense Attorneys Can Put Up a Fight in Excessive Fee Lawsuits
Defense Attorneys Can Put Up a Fight in Excessive Fee Lawsuits
An insurer speaks out about why the majority of excessive recordkeeping fee claims are ‘bogus.’
DB Plan Sponsors Might Want to Press Pause on Pursuing PRT
Investment managers point to what might be better strategies for managing defined benefit plan investment risks and PBGC premium costs. 
Most Read
IRS Notice Defines Retirement Plan Tax Distribution Exceptions
ERISA Advisory Council Explores Annuity Default Options in DC Plans
Legislation to Overturn Fiduciary Rule Advances Through House Committee
Economic Events
February sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $675.8 billion, up 1.7% from the revised January level and up 25.5% from the revised February 2021 level, the Census Bureau reported. The December to January percent change was revised from the Monthly Wholesale Annual Revision Report of up 4.4% to up 5.0%.

Tomorrow, the Bureau of Labor Statistics will reveal the consumer price index for March, and Wednesday, it will reveal the producer price index for March. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average weekly mortgage rates, and the Census Bureau will report about retail sales for March and business trade for February.
Market Mirror
Friday, the Dow closed 137.55 points (0.40%) higher at 34,721.12, the Nasdaq fell 186.30 points (1.34%) to 13,711.00, and the S&P 500 was down 11.93 points (0.27%) at 4,488.28. The Russell 2000 decreased 15.24 points (0.76%) to 1,994.56, and the Wilshire 5000 lost 163.12 points (0.36%) to finish at 44,927.42.

The price of the 10-year Treasury note decreased 26/32, bringing its yield up to 2.712%. The price of the 30-year Treasury bond fell 30/32, increasing its yield to 2.726%.

For the week ending April 8, the Dow was down 0.28%, the Nasdaq lost 3.86%, and the S&P 500 decreased 1.27%. The Russell 2000 fell 4.62%, and the Wilshire 5000 finished 1.91% lower.
HSA Conference
Join us virtually Wednesday and Thursday for our first HSA Conference of the year, designed to educate plan sponsors that currently offer, or are considering offering, these accounts. Topics to be discussed include: How HSAs operate; best practices in HSA provider selection and ongoing administration; how to boost employees’ knowledge, and use, of their benefit; and more.
Deals and People
Retirement Industry People Moves
Russell Investments hires endowment expert; SEI announces appointment of next CEO; Northern Trust Asset Management names co-head of fixed income; and more.
Small Talk
ON THIS DATE: In 1783, after receiving a copy of the provisional treaty on March 13, Congress proclaimed a formal end to hostilities with Great Britain. In 1931, construction on the Empire State Building was completed. In 1945, during World War II, American soldiers liberated the Nazi concentration camp of Buchenwald in Germany. In 1947, Jackie Robinson became the first black player in major-league history when he played in an exhibition game for the Brooklyn Dodgers. In 1968, President Lyndon Johnson signed the 1968 Civil Rights Act. In 1970, Apollo 13, the third lunar landing mission, was successfully launched from Cape Canaveral, Florida, carrying astronauts James A. Lovell, John L. Swigert and Fred W. Haise. In 2004, Phil Mickelson won the Masters Golf Tournament at Augusta National Golf Club, his first major championship in nearly 12 years as a professional golfer.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers who they feel comfortable sharing their finances with and whether there were elements of their finances they kept more guarded than others. Asked who they would be willing to share details of their finances with, all of them selected “spouse/partner.” Savings other than retirement savings and debt are two areas that are more guarded than others. In verbatim responses, readers shared reasons they are not willing to discuss their finances with others, although a couple of them mentioned ways it would be helpful to other people to do so. A big thank you to all who participated in the survey!
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