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PLANSPONSOR NEWSDASH LOGO April 14th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Paycheck Protection Program Covers Retirement Plan Contributions
The Treasury Department makes clear that the PPP offers help with employer contributions to retirement plans and toward health benefits for employees.
Compliance
Lawsuit Claims Impostor Fooled Abbott Labs into Distribution
According to the lawsuit, an unknown user accessed the plaintiff’s stock plan account by exploiting the ‘forgot password’ option and impersonating the plaintiff over the course of several phone calls.
Most Read
Compliance
Supreme Court Decision in Thole v. U.S. Bank Has Major Implications for Pensions
Compliance
Heroes Act Now In the Hands of a Skeptical Senate
Compliance
Court Finds Plan Sponsor Could Be Found Liable for Retirement Plan Cyberfraud
SPONSORED BY: Pacific Life
When Choosing to Receive Lifetime Income, Women Win at Work
The new SECURE Act makes it easier for employers to offer lifetime income through their defined contribution plans. This is good for everyone but offers particular advantages for women as explained here.
Market Mirror
Yesterday, the Dow fell 328.60 points (1.39%) to 23,390.77, the NASDAQ was up 38.85 points (0.48%) at 8,192.43, and the S&P 500 closed 28.19 points (1.01%) lower at 2,761.63. The Russell 2000 increased 20.38 points (1.71%) to 1,212.04, and the Wilshire 5000 lost 291.30 points (1.04%) to finish at 27,647.63.

The price of the 10-year Treasury note was down 3/32, increasing its yield to 0.755%. The price of the 30-year Treasury bond decreased 1 2/32, bringing its yield up to 1.393%.
Opinions
CARES Act’s Provisions Are Well-Intentioned but Could Harm Retirement Readiness
Reminders about the long-term effects of plan leakage on retirement savings could protect retirement plan participants from making harmful decisions.
Products
Two West Advisors Launches Virtual Consultation Service
Participants receiving an email from plan sponsors can schedule virtual meetings with a Two West financial expert to address retirement plan account questions as well as broader personal financial issues.
Pentegra Waives Coronavirus Amendment Fees
“These are challenging times, unlike what most of us have ever seen,” says Pentegra President and CEO John Pinto.
Small Talk
ON THIS DATE: In 1828, the first edition of Noah Webster’s dictionary was published under the name “American Dictionary of the English Language.” In 1865, President Abraham Lincoln was shot in the head at Ford’s Theatre in Washington, D.C. In 1902, James Cash (J.C.) Penney opened his first retail store in Kemmerer, Wyoming. It was called the Golden Rule Store. In 1912, the Atlantic passenger liner Titanic, on its maiden voyage hit an iceberg and began to sink. In 1935, country singer Loretta Lynn was born in Butcher Hollow, Kentucky. In 1956, Ampex Corporation of Redwood City, California, demonstrated the first commercial magnetic tape recorder for sound and picture. In 1959, the Taft Memorial Bell Tower was dedicated in Washington, D.C. In 1981, America’s first space shuttle, Columbia, returned to Earth after a three-day test flight. The shuttle orbited the Earth 36 times during the mission. In 2008, Delta Air Lines and Northwest Airlines announced they were combining.
TRIVIAL PURSUITS: Do ostriches bury their heads in the sand?
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