Products July 9, 2013

SSgA Launches New ETF, Updates Others

July 9, 2013 (PLANSPONSOR.com) – Asset management firm State Street Global Advisors (SSgA) announced the availability of the SPDR Russell 2000 ETF (ticker symbol, TWOK).
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SSgA also announced changes to the indexes, names and tickers of three U.S. equity SPDR ETFs. The three SPDR ETFs will seek to track Russell Indexes that provide comprehensive coverage of each underlying market segment.

The SPDR Russell 2000 ETF seeks to track the performance of the Russell 2000 Index, which measures the performance of the small-cap segment of the U.S. equity market. The index is a subset of the Russell 3000 Index, which represents approximately 10% of its total market capitalization and includes approximately 2000 of the smallest securities based on a combination of market cap and current index membership, according to SSgA.

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The updated ETFs include: the SPDR Dow Jones Total Market ETF (ticker symbol, TMW), which will now be called the SPDR Russell 3000 ETF (THRK) and switched from the Dow Jones Total Stock Market Index to the Russell 3000 Index; the SPDR Dow Jones Large Cap ETF (ELR), which is now the SPDR Russell 1000 ETF (ONEK) and switched from the Dow Jones Large Cap Total Stock Market Index to the Russell 1000 Index; and the SPDR Down Jones Mid Cap ETF (EMM), which is now the SPDR Russell Small Cap Completeness ETF (RSCO) and switched from the Dow Jones U.S. Mid Cap Total Stock Market Index to the Russell Small Cap Completeness Index.

“Our ETF leadership drives our commitment to continually reviewing the SPDR offering to ensure it provides our clients with access to a broad range of asset classes and strategies,” said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at SSgA. “The Russell indexes are strong U.S. equity benchmarks that are backed by a transparent, rules-based methodology that is accurate and replicable.”

Deals and People July 9, 2013

Law Firm Names Head of Welfare Benefits Department

July 9, 2013 (PLANSPONSOR.com) – Roberta Casper Watson will join The Wagner Law Group as head of its Welfare Benefits Department.
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Watson will work with senior associate Barry Newman, associate Alex Olsen and senior benefits consultant Virginia Peabody. Along with other health and welfare plan issues, Watson will be responsible for issues with the Affordable Care Act.

The Best Lawyers in America has recognized Watson on its list for Employee Benefit/ERISA law since 1995, and for 2012, it named her the Tampa Lawyer of the Year for Employee Benefits (ERISA) Law.

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Watson has been active in the American Bar Association (ABA), where she has been chair of both the Tax Section Employee Benefits Committee and the Health Law Section Employee Benefits Interest Group. She was also chair of the ABA’s Joint Committee on Employee Benefits.

She is a Charter Fellow of the American College of Employee Benefits Counsel. She served on the CHIPRA Task Force created by the U.S. Departments of Labor and Health and Human Services.  She was also on the board of Florida’s District Six Community Health Purchasing Alliance.

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