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November 8th, 2022 Information & Insights for the 403(b) Community SEC Considers Making Swing Pricing Mandatory for Open-Ended Mutual Funds If adopted, the new rule would require most open ended funds to keep at least 10% of their assets in the “highly liquid” category and would mandate swing pricing and a hard close. ERISA Industry Committee Asks Federal Court To Consider Motion The ERISA Industry Committee has joined an amicus brief, with the U.S. Chamber of Commerce, asking a federal appeals court to uphold the dismissal of a 401(k) lawsuit.  Ask the Experts What Kind of Payments Can a Hardship Request Cover When Buying a Home? We are a large healthcare provider that sponsors a 401(K) plan for our employees. I read your recent Ask the Experts column on the 401(k) rules for hardship distributions, which stated that one of the expense categories that constitutes an “immediate and heavy financial need” for hardship distribution purposes is “Costs directly related to the purchase of a principal residence for the employee (excluding mortgage payments)”. My question is: can a hardship request to cover costs directly related to the purchase of a principal residence for the employee include payoff of outstanding debts if that is what is required for the participant to qualify for the mortgage loan? Women, Millennial and Gen Z Workers Struggle to Reach Personal Financial Goals New Prudential Financial data shows a gender gap — in outlooks on work and money and gaps between generations — in the workforce  Excessive Fee Complaint Filed Against Large Freight Transporter The Phoenix-based company is alleged to have breached its fiduciary duty to plan participants. Exploring ESG Investing Conference Join us Thursday, November 10, for a virtual conference to learn about regulations for environmental, social and governance investing in retirement plans; the debate over whether ESG factors are financial/performance factors; and what allocators, plan sponsors and advisers should consider when deciding whether and how to use ESG investments. Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 400, Rockville, MD 20850