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Income Insight
Income Insight
The SECURE Act will bring uniformity to lifetime income projections.
Ask the Experts
Coronavirus-Related Distributions From 403(b) and Governmental 457(b) Plans
“Our firm sponsors both a 403(b) and 457(b) plan and have already begun to receive questions from employees regarding the hardship distribution (403(b)) and unforeseeable emergency distribution (457(b)) provisions in our retirement plans and whether they would be able to access their funds in such plans due to expenses related to the COVID-19 pandemic. Will such distributions be permissible?”
Most Read
New Financial Audit Rule Increases Requirements for Plan Sponsors
2021 Recordkeeping Survey
Data and Research
Participants Missing the Full Match Remains a Big Problem
MetLife’s Evolving Retirement Model Study
Retirement is changing: some workers are delaying retirement, and some expect they will never retire. Employers must re-think their workforce management strategy. Explore the new retirement landscape today.
Economic Events
The Conference Board Consumer Confidence Index declined sharply in March, following an increase in February. The Index now stands at 120.0 (1985=100), down from 132.6 in February. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—decreased from 169.3 to 167.7. The Expectations Index—based on consumers’ short-term outlook for income, business and labor market conditions—declined from 108.1 last month to 88.2 this month.
Market Mirror
Tuesday, the Dow fell 410.32 points (1,84%) to 21,917.16, the NASDAQ closed 74.05 points (0.95%) lower at 7,700.10, and the S&P 500 decreased 42.06 points (1.60%) to 2,584.59. The Russell 2000 was down 5.21 points (0.45%) at 1,153.10, and the Wilshire 5000 lost 375.39 points (1.43%) to finish at 25,899.94.

The price of the 10-year Treasury note increased 5/32, bringing its yield down to 0.674%. The price of the 30-year Treasury bond was up 4/32, decreasing its yield to 1.327%.
Supreme Court Denies Review of UPenn ERISA Lawsuit
A last ditch effort to point out that another circuit found no evidence of fiduciary misconduct in a similar case apparently did not persuade the high court it needed to resolve a circuit split.
DB Plan Relief Included in the CARES Act
The bill provides a delay for minimum annual required contributions and relief for plans that may have benefit restrictions triggered due to a drop in funding levels.
Small Talk
ON THIS DATE: In 1700, English pranksters began popularizing the annual tradition of April Fools’ Day by playing practical jokes on each other. In 1748, the ruins of Pompeii were found. In 1789, the U.S. House of Representatives held its first full meeting in New York City. Frederick Muhlenberg of Pennsylvania was elected the first House Speaker. In 1865, at the Battle of Five Forks in Petersburg, Virginia, Gen. Robert E. Lee began his final offensive. In 1891, the William Wrigley Jr. Company was founded in Chicago. In 1916, the first U.S. national women’s swimming championships were held. In 1930, Leo Hartnett of the Chicago Cubs broke the altitude record for a catch by catching a baseball dropped from the Goodyear blimp 800 feet over Los Angeles. In 1938, the Baseball Hall of Fame opened in Cooperstown, New York. In 1945, U.S. forces invaded Okinawa during World War II. It was the last campaign of World War II. In 1946, Weight Watchers was formed. In 1948, the Berlin Airlift began. In 1952, the Big Bang theory was proposed in “Physical Review” by Alpher, Bethe & Gamow. In 1953, Congress created the Department of Health Education and Welfare. In 1954, the U.S. Air Force Academy was formed in Colorado. In 1970, President Richard Nixon signed the Public Health Cigarette Smoking Act, which banned cigarette advertisements effective January 1, 1971. In 1976, Apple Computer began operations. In 1982, the U.S. transferred the Canal Zone to Panama.
WEDNESDAY WISDOM: “Life lived for tomorrow will always be just a day away from being realized.”—Leo Buscaglia, American author
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