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PLANSPONSOR NEWSDASH LOGO April 22nd, 2020
Insight on Plan Design & Investment Strategy Every Weekday
PLANSPONSOR Awards
Get to Know Our Plan Sponsor of the Year Finalists
We are pleased to present profiles of our plan sponsor of the year finalists in the Nonprofit DC >$500MM category. Profiles can be seen by clicking on the name of the finalist.
Compliance
Lawsuit Challenges Conservative Investment of Profit Sharing Plan Assets
Denying a motion to dismiss the suit, a judge pointed out the difference between it and others cited by the defense which challenged investments from which participants could choose.
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
Compliance
Parties in Emory University 403(b) Plan Lawsuit Agree to Settle
Only one of the spate of lawsuits challenging university 403(b) plans has gone to trial.
Economic Events
Existing-home sales fell in March following a February that saw significant nationwide gains, according to the National Association of Realtors. Each of the four major regions reported a dip in sales, with the West suffering the largest decrease. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—dropped 8.5% from February to a seasonally-adjusted annual rate of 5.27 million in March. Despite the decline, overall sales increased year-over-year for the ninth straight month, up 0.8% from a year ago (5.23 million in March 2019).
Market Mirror
Tuesday, the Dow decreased 631.56 points (2.67%) to 23,018.88, the NASDAQ fell 297.50 points (3.48%) to 8,263.23, and the S&P 500 lost 86.60 points (3.07%) to finish at 2,736.56. The Russell 2000 was down 28.25 points (2.33%) at 1,185.09, and the Wilshire 5000 closed 852.40 points (3.01%) lower at 27,433.65.

The price of the 10-year Treasury note was up 4/32, decreasing its yield to 0.566%. The price of the 30-year Treasury bond increased 1 30/32, bringing its yield down to 1.156%.
Ask the Experts
A Common Error in Administering Match Eligibility Requirements
“We are an Employee Retirement Income Security Act (ERISA) 403(b) plan sponsor that requires employees to complete a year of 1,000 hours service to receive the plan’s employer matching contribution. Can we allow employees to receive the match once they have completed 1,000 hours of service, or must they wait the full 12 months?”
Products
SmartDollar Offers Free Trial of Financial Wellness Program to Employers
The program is designed to offer people a step-by-step plan to build an emergency fund and get out of debt.
HSA Bank, Jellyvision Partner on HSA Platform
It will focus on user education and health care consumerism.
Small Talk
ON THIS DATE: In 1861, Robert E. Lee was named commander of Virginia forces. In 1864, Congress passed legislation that allowed the inscription “In God We Trust” to be included on one-cent and two-cent coins. In 1876, the first official National League (NL) baseball game took place. Boston beat Philadelphia 6-5. In 1889, at noon, thousands of people made a mad dash into the newly opened Oklahoma Territory to claim cheap land. In 1914, Babe Ruth made his pitching debut with the Baltimore Orioles. In 1952, an atomic test conducted in Nevada was the first nuclear explosion shown on live network television. In 1970, Earth Day, an event to increase public awareness of the world’s environmental problems, was celebrated in the United States for the first time. In 1976, Barbara Walters became first female nightly network news anchor. In 1993, the U.S. Holocaust Memorial Museum was dedicated in Washington, D.C.
WEDNESDAY WISDOM: “Never apologize for showing feeling. When you do so, you apologize for the truth.”—Benjamin Disraeli, a former British Prime Minister
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