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PLANSPONSOR NEWSDASH LOGO June 8th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Americans Continue to Grapple With Retirement Savings
Americans Continue to Grapple With Retirement Savings
Forty-seven percent of DC plan participants say the pandemic has had an adverse effect on their retirement savings.
Products
Embracing a ‘Retirement Tier’ Framework
T. Rowe Price says its new framework for implementing a retirement tier helps sponsors weed through the array of products and tools to choose what might be best for their plans.
Most Read
Research
2021 Target-Date Fund Survey
Compliance
The DOL Has Begun Retirement Plan Cybersecurity Audits
Compliance
Rush of Litigation Against Retirement Plans Expected to Continue
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Market Mirror
Yesterday, the Dow closed 126.15 points (0.36%) lower at 34,630.24, the Nasdaq gained 67.23 points (0.49%) to finish at 13,881.72, and the S&P 500 was down 3.37 points (0.08%) at 4,226.52. The Russell 2000 climbed 32.76 points (1.43%) to 2,319.18, and the Wilshire 5000 increased 77.13 points (0.17%) to 44,316.88.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.573%. The price of the 30-year Treasury bond decreased 26/32, bringing its yield up to 2.252%.
Compliance
Northern Trust Challenged in Second ERISA Suit
The lawsuit alleges the company failed to regularly monitor plan investments or remove ones that became imprudent.
Serco Reaches $1.2 Million Settlement in Excessive Fee Class Action Suit
The suit had charged the Navy defense contractor with selecting mutual funds with an average expense ratio of 0.81% when funds costing 0.41% were available.
John Hancock Agrees to Procedural Changes in ERISA Suit Settlement
In addition to a $14 million payment, the defendants agreed to retain an independent third-party investment consultant to review investment options in the plan, among other things.
Small Talk
ON THIS DATE: In 1869, Ives W. McGaffey received a U.S. patent for the suction vacuum cleaner. In 1920, 125 National Woman’s Party members surrounded the Chicago Coliseum for the first day of picketing to demand that the Republican Party do more than just pass a pro-suffrage resolution at its national convention. In 1966, the rival National Football League (NFL) and American Football League (AFL) announced that they will merge. In 1968, James Earl Ray, an escaped American convict, was arrested in London, England, and charged with the assassination of African American civil rights leader Martin Luther King, Jr. In 1969, the New York Yankees retired Mickey Mantle’s number (7). In 1991, a victory parade was held in Washington, D.C., to honor veterans of the Persian Gulf War. In 1998, the FTC brought an antitrust complaint against Intel Corp., alleging its policies punished other developers of microprocessor chips.
TUESDAY TRIVIA: What do the Olympic rings represent?
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