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| Products, Deals and People | |
| Seyfarth Shaw LLP announced the expansion and redesign of its Employee Benefits Administrative Service Center, which has evolved into Seyfarth Benefits Consulting (SBC). Introduced in 2014 by Seyfarth’s Employee Benefits & Executive Compensation department to provide a relatively narrow set of employee benefits administrative services, SBC grew in scope as plan sponsors and administrators drove demand for broader support maintaining their employee benefit plans more efficiently.Read more > | |
| Market Mirror | |
Yesterday, the Dow closed 45.74 points (0.22%) lower at 20,550.98, the NASDAQ increased 11.64 points (0.20%) to 5,840.37, and the S&P 500 was down 2.39 points (0.10%) at 2,341.59. The Russell 2000 was up 2.68 points (0.20%) at 1,357.32, and the Wilshire 5000 decreased 24.08 points (0.10%) to 24,353.20. On the NYSE, 3.1 billion shares changed hands, with a nearly even split between advancers and decliners. On the NASDAQ, 2.9 billion shares traded, with a 1.3 to 1 ratio of advancers to decliners. The price of the 10-year Treasury note increased 10/32, bringing its yield down to 2.376%. The price of the 30-year Treasury bond climbed 20/32, decreasing its yield to 2.983%. | |
| Sponsored message from Pacific Life | |
| Reduce the impact of pension volatility on the balance sheet This article examines the challenges of matching pension plan liabilities using traditional liability-driven investing (LDI) strategies. It also offers a unique and innovative solution developed by an insurance company to address the risks and shortfalls associated with traditional LDI. Read more > | |
| Compliance | |
| District Court Moves Ahead On Oracle 401(k) Challenge | |
| Following a recommendation made in February by U.S. Magistrate Judge Craig B. Shaffer of the U.S. District Court for the District of Colorado, arguing for the denial of Oracle’s motion to dismiss, a district court judge has formally ruled the company will in fact have to defend itself at trial.Read more > | |
| Anthem Excessive Fee Case Moves Forward | |
| A federal district judge has moved forward most claims in an excessive fee case brought by participants in the Anthem 401(k) Plan. The only motion to dismiss by the defendants that the court granted concerned a claim that the 401(k) plan should have offered a stable value fund instead of a money market fund.Read more > | |
| Investing | |
| Traditional Obstacles to ESG Investing Are Fading | |
| A global survey of both institutional and retail investors sponsored by State Street Corporation found that traditional obstacles to environmental, social and governance (ESG) investing are fading, while one significant barrier remains: the lack of transparent, standardized and quality data. However, just 10% of respondents to a survey by State Street say they view fiduciary duty as a barrier to ESG integration.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1774, the British Parliament enacted the Coercive Acts, which included: The Boston Port Act, which closed the port of Boston until damages from the Boston Tea Party were paid; the Massachusetts Government Act, which restricted Massachusetts; democratic town meetings and turned the governor’s council into an appointed body; the Administration of Justice Act, which made British officials immune to criminal prosecution in Massachusetts; and the Quartering Act, which required colonists to house and quarter British troops on demand, including in their private homes as a last resort. In 1834, President Andrew Jackson was censured by Congress for refusing to turn over documents. Jackson was the first president to suffer this formal disapproval from Congress. In 1969, Dwight D. Eisenhower, the 34th president of the United States and one of the most highly regarded American generals of World War II, died in Washington, D.C., at the age of 78. In 1979, the worst accident in the history of the U.S. nuclear power industry began when a pressure valve in the Unit-2 reactor at Three Mile Island failed to close. Cooling water, contaminated with radiation, drained from the open valve into adjoining buildings, and the core began to dangerously overheat. In 1984, Bob Irsay (1923-1997), owner of the Baltimore Colts, moved the team to Indianapolis. Without any sort of public announcement, Irsay hired movers to pack up the team’s offices in Owings Mills, Maryland, in the middle of the night, while the city of Baltimore slept. | |
| TRIVIAL PURSUITS: What is the largest city park in the United States?Read more > | |
| Share the news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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