Plansponsor Logo
PLANSPONSOR NEWSDASH LOGO October 9th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Lessons From a Rare ERISA Excessive Fee Suit Dismissal
Lessons From a Rare ERISA Excessive Fee Suit Dismissal
The complexity of retirement plan lawsuits often makes district court judges reluctant to approve early dismissal motions plaintiffs, but Salesforce has succeeded in defeating a complaint alleging it committed various fiduciary breaches.
Data and Research
Longevity Bound to Make Work a Requisite for Retirees
Experts say in the future, it may not be uncommon for people to work until age 70 or 80, requiring new thoughts about work, as well as finances.
Most Read
Administration
Consider Who Is Paying When Benchmarking Retirement Plan Fees
Compliance
Social Security Announces COLA for 2021
Compliance
Lessons From a Rare ERISA Excessive Fee Suit Dismissal
SPONSORED BY: UMB Healthcare Services
Employers Hold the Key to Financial Well-Being in the Age of COVID-19
By Phil Mason
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.87% for the week ending October 8, slightly down from last week when it averaged 2.88%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.57%. Interest on a 15-year fixed-rate mortgage averaged 2.37%, slightly up from last week when it averaged 2.36%. A year ago at this time, the 15-year FRM averaged 3.05%.

In the week ending October 3, the advance figure for seasonally adjusted initial claims for unemployment insurance was 840,000, a decrease of 9,000 from the previous week’s revised level of 849,000, the Labor Department reported. The four-week moving average was 857,000, a decrease of 13,250 from the previous week’s revised average of 870,250.
Market Mirror
Thursday, the Dow was up 122.05 points (0.43%) at 28,425.51, the NASDAQ increased 56.38 points (0.50%) to 11,420.98, and the S&P 500 closed 27.38 points (0.80%) higher at 3,446.83. The Russell 2000 climbed 17.51 points (1.09%) to 1,628.55, and the Wilshire 5000 gained 295.18 points (0.84%) to finish at 35,575.27.

The price of the 10-year Treasury note was up 2/32, decreasing its yield to 0.771%. The price of the 30-year Treasury bond increased 24/32, bringing its yield down to 1.581%.
Compliance
Plaintiffs Abandon Their Lawsuit Over Principal CIT TDFs
The suit had alleged fiduciary breaches regarding the selection and monitoring of underlying investment options for collective investment trust TDFs offered in retirement plans.
Products
Investment Product and Service Launches
Wilmington Trust adds DocuSign to eVault program; Columbia Threadneedle announces Fixed Income successor; and TIAA grows variable annuity investment lineup.
Small Talk
ON THIS DATE: In 1701, the Collegiate School of Connecticut was chartered in New Haven. The name was later changed to Yale. In 1781, the last major battle of the American Revolutionary War took place in Yorktown, Virginia. The American forces, led by George Washington, defeated the British troops under Lord Cornwallis. In 1855, Isaac Singer patented the sewing machine motor. In 1888, the public was admitted to the Washington Monument for the first time. In 1930, aviator Laura Ingalls landed in Glendale, California, to complete the first solo transcontinental flight across the U.S. by a woman. In 1936, the Hoover Dam began transmitting electricity to the city of Los Angeles. In 1975, Andrei Dmitriyevich Sakharov, the Soviet physicist who helped build the USSR’s first hydrogen bomb, was awarded the Nobel Prize for Peace in recognition of his struggle against “the abuse of power and violations of human dignity in all its forms.” Sakharov was forbidden by the Soviet government from personally traveling to Oslo, Norway, to accept the award. In 2003, Britain’s Queen Elizabeth II knighted actor Roger Moore and made musician Sting a CBE (Commander of the British Empire).

And now it’s time for some FRIDAY FUN!
Math for real life.

I think we have a lifelong bacon lover here.

In Washington, D.C., raccoons have been a problem for reporters outside the White House for at least a week, the Huffington Post reports. Paula Reid of CBS News said a raccoon attacked multiple news crews on the North Lawn on September 28, and she posted photos on Twitter showing a few rummaging around a media tent. CNN’s Joe Johns was on camera shooting a live spot for “New Day” when a raccoon attempted to creep into the frame. And, Elyse Perlmutter-Gumbiner, a White House producer for NBC News, shared footage on Twitter from before dawn Wednesday showing Secret Service agents trying to wrangle a raccoon from a tree.

Have a safe and happy weekend!
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2020 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850