April 2nd, 2024 Insight on Plan Design & Investment Strategy Every Weekday Benefits 403(b) Participation Rates Reach Record Highs, but Savings Results ‘Still Not Great’ For 403(b) plan sponsors, automatic enrollment helps employees build retirement security, but participation is only half the task facing many, due to low savings rates. Benefits Unisys Completes Latest in Series of Pension Annuitizations The transaction, completed with F&G Annuities & Life, is Unisys' sixth since January 2021, totaling nearly $2 billion. Most Read Compliance American Trust Notifies Participants of Data Breach Compliance American Airlines Failed to Protect Workers’ 401(k)s in ESG Case, Federal Court Finds Compliance Treasury, IRS Issue Proposed Regulations on SECURE 2.0 Provisions ECONOMIC EVENTS Total construction activity for February 2024 was 0.3% below the revised January 2024, the Census Bureau reported. MARKET MIRROR Monday, the Dow fell 240.52 points (0.60%) to close at 39,566.85, the Nasdaq rose 17.37 points (0.11%) to close at 16,396.83 and the S&P 500 fell 10.58 points (0.20%) to close at 5,243.77. The Russell 2000 fell 21.71 points (1.02%) to close at 2,102.84, and the FT Wilshire 5000 Index fell 151.49 points (0.29%) to close at 52,764.33. The 10-year Treasury note fell 31/32, bringing the yield to 4.320%. The 30-year Treasury fell 1 29/32, bringing the yield to 4.450%. Compliance DOL Files Papers to Enforce Petition against TPA The Department of Labor seeks to enforce a summons against a Philadelphia-based third-party administrator to execute an Employee Benefits Security Administration investigation. Compliance Stakeholders Ask for Fewer Regulatory Mandates for Automatic Portability U.S. Chamber of Commerce and ERIC ask for a longer compliance date and a removal of required non-English disclosures. SMALL TALK ON THIS DATE: In 1513, Spanish explorer Juan Ponce de León landed on the coast of Florida. In 1865, in the face of advancing Union forces, Confederate troops evacuated Richmond, Virginia, the capital of the Confederate States of America during the U.S. Civil War. In 1891, German sculptor and painter Max Ernst was born. In 1914, British actor Alec Guinness, known for the variety and excellence of his stage and screen characterizations, was born. In 1917, President Woodrow Wilson asked Congress for a declaration of war against Germany. In 1968, Stanley Kubrick’s “2001: A Space Odyssey,” had its world premiere in Washington, D.C.; it became a classic, setting the benchmark for sci-fi films. In 1978, the soap opera “Dallas,” debuted as a five-part miniseries on U.S. television; hugely popular, it became a running series and revolutionized prime-time dramas. In 1982, Argentine troops seized the Falkland Islands, precipitating the Falkland Islands War with the U.K. In 1992, New York organized-crime boss John Gotti was convicted on 13 criminal counts—including the murder of Paul Castellano and others, racketeering and obstruction of justice—and was sentenced to life in prison. In 2005, Bishop of Rome and head of the Roman Catholic Church from 1978, Pope John Paul II, the first non-Italian pope in 455 years and the first from a Slavic country, died in Vatican City. In 2015, Portuguese filmmaker Manuel de Oliveira died at age 106. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 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 300, Rockville, MD 20850