 |
|
|
|
| Products, Deals & People | |
| Prudential Retirement, a business unit of Prudential Financial, has launched Gibraltar Ventures as a separate organization focused on developing new investment ideas and business strategies. The organization will explore, develop and invest in new strategies to advance retirement and financial security, according to Prudential.Read more > | |
| DCIIA Offers Clarity of Longevity Annuity Rules | |
| In its newly released document, “Qualifying Longevity Annuity Contracts: Answers to Frequently Asked Questions (FAQs),” the Defined Contribution Institutional Investment Association (DCIIA) provides insight into recently announced regulations that make longevity annuities accessible to the defined contribution (DC) and individual retirement account (IRA) markets.Read more > | |
| Market Mirror | |
U.S. stock indices ended lower again, in part due to weakening investor confidence due to falling oil prices. The Dow was down 99.99 points (0.58%) at 17,180.84, the NASDAQ fell 48.44 points (1.04%) to 4,605.16, and the S&P 500 closed 12.70 points (0.63%) lower at 1,989.63. The Russell 2000 lost 12.15 points (1.05%) to finish at 1,140.30, and the Wilshire 5000 decreased 151.39 points (0.72%) to 20,858.44. On the NYSE, 3.2 billion shares traded, with a near 3 to 1 lead for decliners. On the NASDAQ, 2.8 billion shares changed, with 2.3 declining issues for every advancing issue. The price of the 10-year Treasury note fell 10/32, increasing its yield to 2.116%. The price of the 30-year Treasury bond was down 8/32, bringing its yield up to 2.748%. | |
| Compliance | |
| Pressure to Retire Leads to Age Bias Suit | |
| Blinded Veterans Association (BVA), a Washington, D.C.-based non-profit that provides services to blind veterans, is facing an Age Discrimination in Employment Act (ADEA) lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC says the company fired two employees because of their age after repeatedly pressuring them to retire.Read more > | |
| Nationwide Settles 13-Year-Old Revenue-Sharing Suit | |
| Nationwide Financial Services has filed a motion for preliminary approval of a settlement of a lawsuit filed by trustees of five qualified retirement plans alleging that the provider’s revenue-sharing arrangement with mutual funds constituted transactions prohibited by the Employee Retirement Income Security Act (ERISA). In its motion, Nationwide says the settlement secures a number of significant changes to its business practices that will result in different investment options and enhanced disclosures for the plans and for future purchasers of Nationwide’s annuity contracts and trust platform products. Nationwide will also pay $140,000,000 to the class identified in the lawsuit.Read more > | |
| Small Talk | |
ON THIS DATE: In 1773, in Boston Harbor, a group of Massachusetts colonists disguised as Mohawk Indians boarded three British tea ships and dumped 342 chests of tea into the harbour during a midnight raid, popularly known as the “Boston Tea Party.” It was in protest of the British Parliament’s Tea Act of 1773. In 1905, Sime Silverman published the first issue of “Variety” magazine. In 1944, Nazi leader Adolf Hitler ordered a massive attack against the western Allies by three German armies. The German created a triangular “bulge” 60 miles deep and 50 miles wide along the Allied front—thus, the fight became known as The Battle of the Bulge. In 1972, the Miami Dolphins became the first National Football League (NFL) team to go unbeaten and untied in a 14-game regular season. The Dolphins went on to defeat the Washington Redskins in Super Bowl VII. In 1977, “Saturday Night Fever,” a movie that ignited the disco dance craze across America and started the movie career of its star, John Travolta, opened in theaters. In 1998, Eric Michelman filed the earliest patent for a scroll wheel for a computer mouse. In 1999, Sigourney Weaver received a star on the Hollywood Walk of Fame. In 2010, Larry King, the then-77-year-old suspenders-sporting host of TV talk show “Larry King Live,” signed off after 25 years on the air.
TUESDAY TRIVIA: The second most-consumed beverage in the world (after water) is tea. | |
| TRIVIAL PURSUITS: By the time the holiday season is over, the U.S. Postal Service (USPS) will have processed and delivered more than 545 million cards, letters and packages each day. What is the busiest mailing day of the year, according to the USPS?Read more > | |
| Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more > | |
News from PLANSPONSOR.com
Copyright © Asset International, Inc., 2014.
All
rights reserved. No reproduction without
prior authorization.
|
|
|
|
Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
Advertising: advertise@strategic-i.com
Subscribe to NEWSDash, click here .
To unsubscribe, click here.
|
BrightScope /
CIO /
FWW /
Investor Economics /
LiquidMetrix /
Market Metrics /
Matrix Solutions /
PLANADVISER /
Plan For Life /
PLANSPONSOR /
Simfund |