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Could Retirement Plans Become Hard to Insure?
Could Retirement Plans Become Hard to Insure?
A 5-fold increase in plan lawsuits over just the past 2 years is making fiduciary insurers nervous, an expert says.
Data and Research
OregonSaves Program Is Helping Boost Employees’ Retirement Savings
Academic research analyzed the auto-enrollment IRA program for private sector workers. 
Most Read
Schlichter: Significant Pleading Standard Will Not Slow Lawsuits
Pension Plans of Kellogg, Kohler and FedEx Sued For Outdated Calculations   
Federal Judge Rejects One of Two Challenges to DOL ESG Rule
Economic Events
Sales of new single‐family houses in December were at a seasonally adjusted annual rate of 811,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 11.9% above the revised November rate of 725,000, but is 14.0% below the December 2020 estimate of 943,000. An estimated 762,000 new homes were sold in 2021. This is 7.3% below the 2020 figure of 822,000.
Market MIrror
Wednesday, the Dow lost 129.64 points (0.38%) to finish at 34,168.09, the Nasdaq was up 2.82 points (0.02%) at 13,542.12, and the S&P 500 decreased 6.52 points (0.15%) to 4,349.93. The Russell 2000 fell 27.57 points (1.38%) to 1,976.46, and the Wilshire 5000 closed 147.81 points (0.34%) lower at 43,695.24.

The price of the 10-year Treasury note decreased 31/32, bringing its yield up to 1.876%. The price of the 30-year Treasury bond fell 1 2/32, increasing its yield to 2.175%.
TDF Suite Questioned in ERISA Lawsuit Against Fluor Corp.
The suit also alleges plan fiduciaries allowed for excessive recordkeeping fees to be charged to participants.
Trophy Case
When conducting a service provider request for proposals (RFP), being specific as to the needs of the plan—and letting the questions asked address those—can help ensure that administrative and participant requirement needs are met.
Small Talk
ON THIS DATE: In 1880, Thomas Edison patented the electric incandescent lamp. In 1888, the National Geographic Society was founded in Washington, D.C., for “the increase and diffusion of geographical knowledge.” In 1927, United Independent Broadcasters Inc. started a radio network with contracts with 16 stations. The company later became Columbia Broadcasting System (CBS). In 1945, Soviet troops entered Auschwitz, Poland, freeing the survivors of the network of concentration camps—and finally revealing to the world the depth of the horrors perpetrated there. In 1948, Wire Recording Corporation of America announced the first magnetic tape recorder. The “Wireway” machine with a built-in oscillator sold for $149.50. In 1967, a launch pad fire during Apollo program tests at Cape Canaveral, Florida, killed astronauts Virgil “Gus” Grissom, Edward H. White II, and Roger B. Chaffee. In 1973, the Vietnam peace accords were signed in Paris. In 2010, Steve Jobs unveiled the Apple iPad.
SURVEY SAYS: We are close to knowing which teams will play in this year’s Super Bowl. The AFC Championship Game will feature the Kansas City Chiefs going up against the Cincinnati Bengals. The NFC Championship Game will feature the Los Angeles Rams going up against the San Francisco 49ers. Which teams would you like to see play in the Super Bowl, and which team would you like to see win? You may respond to this survey by 6 p.m. Pacific time today.
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