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Appellate Panel Sends Trader Joe’s ERISA Case Back to District Court
Appellate Panel Sends Trader Joe’s ERISA Case Back to District Court
The court found that the plaintiffs plausibly alleged that 401(k) plan fiduciaries failed to control fees by offering retail share classes of investments in the plan.
Data and Research
Finding Success in a Tight Labor Market
One study suggests business leaders must focus on increasing public-private collaborative training efforts and embrace competency-based hiring and promotion models based on skills rather than degrees.
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Employers Plan to Cut Back on Benefits Amid Recession Fears
Deals and People
Smart Bolsters Tech Solutions With Acquisition of ProManage
Deals and People
Franklin to Add Retirement AUM With Putnam Acquisition
Interest on a 30-year fixed-rate mortgage averaged 5.11% as of April 21, up from last week when it averaged 5.00%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.97%. Interest on a 15-year fixed-rate mortgage averaged 4.38%, up from last week when it averaged 4.17%. A year ago at this time, the 15-year FRM averaged 2.29%.

In the week ending April 16, the advance figure for seasonally adjusted initial claims for unemployment insurance was 184,000, a decrease of 2,000 from the previous week’s revised level of 186,000, the Labor Department reported. The four-week moving average was 177,250, an increase of 4,500 from the previous week’s revised average of 172,750.
Thursday, the Dow fell 368.03 points (1.05%) to close at 34,792.76, the Nasdaq was down 278.41 points (2.07%) to finish at 13,174.65, and the S&P 500 fell 65.79 points (1.48%) to 4,393.66. The Russell 2000 fell 46.72 points (2.29%) to 1,991.46, and the Wilshire 5000 dropped 772.79 points (1.73%) to 44,002.18.

The price of the 10-year Treasury note fell 5/32 while its yield settled at 2.905%. The price of the 30-year Treasury bond dropped 30/32 with its yield reaching 2.927%.
Xerox’s Motion to Dismiss ERISA Lawsuit Is Denied
The court order states that plaintiffs plausibly stated a claim for breach of fiduciary duty.
USI Wins Dismissal of ERISA Lawsuit
The complaint was dismissed in its entirety for failure to state a claim.
ON THIS DATE: In 1792, U.S. President George Washington proclaimed American neutrality in the war in Europe. In 1864, Congress passed legislation that allowed the inscription “In God We Trust” to be included on one-cent and two-cent coins. In 1876, the Boston Red Caps beat the Philadelphia Athletics, 6-5, in the first official National League baseball game. In 1889, at precisely high noon, thousands of would-be settlers make a mad dash into the newly opened Oklahoma Territory to claim cheap land. In 1914, Babe Ruth made his pitching debut with the Baltimore Orioles. In 1970, the first “Earth Day” was observed by millions of Americans. In 1976, Barbara Walters became the first female nightly network news anchor. In 2004, Pat Tillman, who gave up his pro football career to enlist in the U.S. Army after the terrorist attacks of September 11. He was killed by friendly fire in Afghanistan. In 2010, the Boeing X-37 began its first orbital mission of the Earth.
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