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June 3rd, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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Compliance
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Can the DOL Effectively Police Pension Fiduciary Breaches Alone?
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One attorney suggests the Supreme Court’s opinion in Thole v. U.S. Bank ‘pushes the ability of participants in a defined benefit pension to file suit practically to extinction,’ effectively leaving the Department of Labor (DOL) as the sole entity to police fiduciary misconduct by pension plan fiduciaries.
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SPONSORED BY: Fidelity
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The Benefits Balancing Act
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Offering more benefits typically leads to recruitment success, but it’s not as simple when it comes to retention.
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Market Mirror |
Tuesday, the Dow climbed 267.63 points (1.05%) to 25,742.65, the NASDAQ closed 56.33 points (0.59%) higher at 9,608.38, and the S&P 500 increased 25.09 points (0.82%) to 3,080.82. The Russell 2000 was up 12.84 points (0.91%) at 1,418.21, and the Wilshire 5000 gained 257.75 points (0.83%) to finish at 31,365.87.
The price of the 10-year Treasury note was down 3/32, increasing its yield to 0.688%. The price of the 30-year Treasury bond decreased 30/32, bringing its yield up to 1.489%.
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ON THIS DATE: In 1539, Hernando De Soto claimed Florida for Spain. In 1800, John Adams, the second president of the United States, became the first president to reside in Washington, D.C., when he took up residence at Union Tavern in Georgetown. In 1851, the New York Knickerbockers became the first baseball team to wear uniforms. In 1932, Lou Gehrig set a major league baseball record when he hit four consecutive home runs. In 1959, the first class graduated from the Air Force Academy in Denver, Colorado. In 1965, 120 miles above the earth, Major Edward H. White II opened the hatch of the Gemini 4 and stepped out of the capsule, becoming the first American astronaut to walk in space. In 1989, Chinese army troops positioned themselves to begin a sweep of Beijing to crush student-led pro-democracy demonstrations in Tiananmen Square. In 2017, The Amazing World of Dr. Seuss Museum opened in Springfield, Massachusetts.
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WEDNESDAY WISDOM: “Let us put our minds together and see what life we can make for our children.”—Sitting Bull
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