Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 6th, 2019
Compliance
IBM Stock Drop Case Makes Its Way to Supreme Court
A district court determined the plaintiffs did not plausibly plead a violation of ERISA’s duty of prudence, because a prudent fiduciary could have concluded that earlier corrective disclosure would have done more harm than good, mirroring many stock drop decisions handed down after the Supreme Court’s decision in Fifth Third Bancorp v. Dudenhoeffer. Read more >
SEC Approves Final Regulation Best Interest, Form CRS
Importantly, the updated rulemaking will apply a best-interest standard to account recommendations, including rollovers from retirement plans into individual retirement accounts (IRAs). Read more >
DOL Asked to Make Electronic Delivery of Retirement Plan Disclosures the Default
Eight organizations associated with defined contribution (DC) plans submitted a letter to the Department of Labor (DOL) asking it to propose regulations that would permit plan sponsors to make electronic delivery the default method of delivery for retirement plan disclosures and notices. Read more >
MOST READ ARTICLES
1
AT&T Sued Over Calculation of Early Retirement Benefits
2
Congressional Leaders Want SECURE Act Passage in 2019
3
New Lawsuit Highlights Importance of Cybersecurity for Retirement Plans
4
IRS Releases 2019-2020 Priority Guidance Plan
5
DC Plans 3.0 Will Really be Tailored to Individual Situations
Market Mirror

Wednesday, the Dow rose 207.39 points (0.82%) to 25,539.57, the NASDAQ gained 48.36 points (0.64%) to close at 7,575.48, and the S&P 500 was up 22.88 points (0.82%) at 2,826.15. The Russell 2000 dipped 1.77 points (0.12%) to finish at 1,506.79, and the Wilshire 5000 gained 196.27 points (0.68%) for a 29,101.19 close.

 

The price of the 10-year Treasury note was up 1/32, bringing its yield down to 2.119%, and the 30-year Treasury bond was down 27/32, increasing its yield to 2.638%.

Benefits & Administration
Employer Interest in Student Loan Repayment Programs Picking Up
It’s important to first gauge employees’ interest in such programs, and to assess the costs, a Willis Towers Watson expert says. Read more >
Products, Deals and People
Fidelity Takes on Vanguard With Fee Reductions
Fidelity investments is announcing a 14% price reduction on its target-date funds (TDFs), resulting in most of those funds having lower expense ratios than comparable Vanguard index target-date funds. Read more >
Small Talk

ON THIS DATE: In 1844, the Young Men’s Christian Association (YMCA) was founded in London. In 1925, Chrysler Corporation was founded by Walter Percy Chrysler. In 1933, in Camden, New Jersey, the first drive-in movie theater opened. In 1934, President Franklin Roosevelt signed the Securities Exchange Act, which established the Securities and Exchange Commission (SEC). In 1942, Japanese forces retreated in the World War II Battle of Midway. In 1944, the D-Day invasion of Europe took place on the beaches of Normandy, France. Four hundred thousand Allied American, British and Canadian troops were involved. In 1968, U.S. Senator Robert F. Kennedy died at 1:44am in Los Angeles after being shot by Sirhan Sirhan. Kennedy was shot the evening before while campaigning for the Democratic presidential nomination. In 1971, “The Ed Sullivan Show” aired for the last time. It was canceled after 23 years on the air. In 1978, “20/20” debuted on ABC.

 

 

No SURVEY SAYS this week.

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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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