Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 7th, 2019
Compliance
Appellate Court Revives UPenn 403(b) Lawsuit
However, in a dissenting opinion, Senior Judge Jane Richards Roth says cases such as this one should be carefully scrutinized in order not to permit implausible allegations to result in a large settlement, under which a substantial portion of the funds are diverted to attorneys’ fees. Read more >
FINRA Fines AXA for Misrepresentations to 401(k) Plans About Bond Funds
FINRA accuses AXA of providing documents to plan sponsors and participants that misrepresented the credit quality of certain bond funds offered in group annuity contracts to 401(k) plans. Read more >
Valuation and Reporting Requirements for Insolvent Multiemployer Plans Amended
A final rule from the Pension Benefit Guaranty Corporation (PBGC) allows smaller plans terminated by mass withdrawal to perform actuarial valuations less frequently, removes certain notice requirements for insolvent plans and reflects the repeal of the multiemployer plan reorganization rules. Read more >
MOST READ ARTICLES
1
J.P. Morgan Agrees to Settle Stable Value Funds Suit
2
Congress Urged to Act Soon on Union Pension Funding Crisis
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Individuals, Employers and Government All Play a Part in Retirement Readiness
4
The Majority of Retirees Spend Below Their Income, a New Study Finds
5
Communicating Retirement Benefits to Five Generations of Workers
Sponsored message from Custodia
Fiduciary Focus
Is 401(k) loan risk on your radar? Read more >
Market Mirror

Yesterday, the Dow was down 66.47 points (0.25%) at 26,438.48, the NASDAQ lost 40.71 points (0.50%) to finish at 8,123.29, and the S&P 500 closed 13.17 points (0.45%) lower at 2,932.47. The Russell 2000 was virtually unchanged at 1,614.98, and the Wilshire 5000 decreased 116.77 points (0.38%) to 30,343.82.

 

The price of the 10-year Treasury note was up 7/32, decreasing its yield to 2.497%. The price of the 30-year Treasury bond increased 9/32, bringing its yield down to 2.907%.

Benefits & Administration
Q4 2018 Volatility Leads DB Sponsors to Focus More on Risk
Asked what they plan to look for in asset management searches in the next 12 months, the majority of mid-sized defined benefit (DB) plan CIOs said better risk-adjusted returns, and they plan to turn to private equity, real estate and hedge funds. Read more >
Products, Deals and People
Senate Confirms Gordon Hartogensis as Director of PBGC
Family trust trustee with Senate connections named 16th director of pensions lifeboat. Read more >
Small Talk

ON THIS DATE: In 1789, the first U.S. Presidential Inaugural Ball was held in New York City. In 1800, Congress divided the Northwest Territory into two parts. The western part became the Indiana Territory and the eastern section remained the Northwest Territory. In 1942, in the Battle of the Coral Sea, Japanese and American navies attacked each other with carrier planes. It was the first time in the history of naval warfare where two enemy fleets fought without seeing each other. In 1945, Germany signed unconditional surrender ending World War II. It would take effect the next day. In 1946, Tokyo Telecommunications Engineering Corp. was founded. The company was later renamed Sony. In 1975, President Gerald Ford declared an end to the Vietnam War. In 1992, a 203-year-old proposed constitutional amendment barring Congress from giving itself a midterm pay raise was ratified as the 27th Amendment.

TRIVIAL PURSUITS: Who made the first license plates? Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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