| | Deals and People | | Lessons Learned from Earlier Recordkeeper Consolidation | | Drawing on his experience leading a sizable integration of two recordkeepers, the CEO of John Hancock Retirement Plan Services offers some insight about Principal’s acquisition of Wells Fargo Retirement and Trust.
Read more > | | | Market Mirror | Yesterday, the Dow was down 115.98 points (0.43%) at 26,806.14, the NASDAQ lost 63.41 points (0.78%) to finish at 8,098.38, and the S&P 500 decreased 14.46 points (0.48%) to 2,975.95. The Russell 2000 fell 14.24 points (0.90%) to 1,561.39, and the Wilshire 5000 closed 165.59 points (0.54%) lower at 30,598.13.
The price of the 10-year Treasury note decreased 23/32, bringing its yield up to 2.051%. The price of the 30-year Treasury bond increased 24/32, bringing its yield down to 2.533%.
| | | Industry Voices | | Driving Financial Wellness at Work | | Wes Collins, senior manager of participant advice services at CAPTRUST, discusses financial wellness areas of focus, broken out by career stage.
Read more > | | | From the Magazine | | Infrastructure Fees | | In the plaintiffs’ bar’s apparently never-ending onslaught against the retirement industry, plaintiffs have recently concocted new claims and filed new complaints relating to the compensation received by plan service providers. Most recently, plaintiffs have turned their attention to so-called infrastructure fees that recordkeepers receive from mutual fund companies in exchange for making their funds available on their recordkeeping platform. This new development and focus by the plaintiffs’ bar has a plethora of implications for plans and their service providers.
Read more > | | | Small Talk | THIS DATE: In 1776, the Declaration of Independence was read aloud to Gen. George Washington’s troops in New York. In 1868, the 14th Amendment to the Constitution was ratified. The amendment was designed to grant citizenship to and protect the civil liberties of recently freed slaves. It did this by prohibiting states from denying or abridging the privileges or immunities of citizens of the United States, depriving any person of his life, liberty, or property without due process of law, or denying to any person within their jurisdiction the equal protection of the laws. In 1877, Alexander Graham Bell, Gardiner Greene Hubbard, Thomas Sanders and Thomas Watson formed the Bell Telephone Company. In 1971, the United States turned over complete responsibility of the Demilitarized Zone to South Vietnamese units. In 1997, Mike Tyson was banned from the boxing ring and fined $3 million for biting the ear of opponent Evander Holyfield. In 2005, Danny Way, a daredevil skateboarder, rolled down a large ramp and jumped across the Great Wall of China. He was the first person to clear the wall without motorized aid.
| | TRIVIAL PURSUITS: Where do the Pacific and Atlantic oceans meet?
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