April 20th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Administration Plan Sponsors Have Lots to Prep for SECURE 2.0 Compliance Whether legislated changes take effect now or down the road, communication with recordkeepers and participants will be crucial. Compliance Mutual of America Agrees to $2.75 Million 401(k) Lawsuit Settlement Subject to court approval, the retirement plan services and investments provider will pay participants in a class action case who alleged it charged excessive fees.   Most Read Administration From Auto-IRAs to PEPs: How Small Employers Can Offer Retirement Savings Compliance Bristol-Myers Squibb, State Street Targeted in Lawsuit Over PRT Administration No Matter How Small, Businesses Have Retirement Plan Options ECONOMIC EVENTS Wednesday, the Dow lost 79.62 points (0.23%) to close at 33,897.01, the Nasdaq gained 3.81 points (0.03%) to close at 12,157.23 and the S&P 500 lost 0.35 points (0.01%) to close at 4,154.52. The Russell 2000 gained 3.89 points (0.22%) to close at 1,799.44 and the Wilshire 5000 gained 5.54 points (0.01%) to close at 41,064.58. The 10-year Treasury note increased 1/32, bringing the yield to 3.594%. The 30-year Treasury bond was unchanged, bringing the yield to 3.787%. Products State Street Partners with Annexus For Retirement Income TDF The firms partnered on a retirement investment that includes a guaranteed income annuity. MetLife, Savi to Help Public Sector Employees Identify Loan Forgiveness Opportunities Participants can use Upwise, MetLife’s financial wellness platform, to navigate their eligibility for various student loan forgiveness programs. Deals and People Thiele to Chair American Benefits Council’s Policy Board of Directors The employer advocacy and policy group has selected Microsoft VP Fred Thiele to replace Tracy Watts as the policy board’s chair. SMALL TALK ON THIS DATE: In 1871, with passage of the Third Force Act, popularly known as the Ku Klux Act, Congress authorized President Ulysses S. Grant to declare martial law, impose heavy penalties against terrorist organizations and use military force to suppress the Ku Klux Klan. In 1912, Navin Field—later called Tiger Stadium—in Detroit and Fenway Park in Boston officially opened as both hosted their first professional baseball games. In 1986, the Chicago Bulls’ Michael Jordan scored 63 points in a National Basketball Association playoff game against the Boston Celtics, setting a post-season scoring record. In 1999, two disgruntled and heavily armed students entered Columbine High School in Littleton, Colorado, and murdered 13 people before killing themselves. In 2008, race car driver Danica Patrick won the IndyCar 300, becoming the first woman to win an IndyCar championship event. In 2021, Derek Chauvin, a former police officer, was found guilty of killing George Floyd, an unarmed African American man whose neck he knelt on while attempting to arrest him in 2020. Did someone forward you this newsletter? Sign up here to get NEWSDash 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 300, Rockville, MD 20850