April 25th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance What’s In the Final Retirement Security Rule? The final rule applies fiduciary status for investment sales, rollover recommendations and annuity sales. Products BlackRock’s LifePath Paycheck Now Live for DC Plans Fourteen plan sponsors have already signed on to offer the guaranteed income product, which functions like a target-date fund, to their employees.  Most Read Data and Research Social Security Trust Funds Now on Pace to Deplete by 2034 Compliance What’s in, What’s Out of Senate’s GOP Tax Plan Compliance Federal Judge Dismisses J.P. Morgan 401(k) Funds Forfeiture Case MARKET MIRROR Wednesday, the Dow fell 42.77 points (0.11%) to close at 38,460.92, the Nasdaq rose 16.11 points (0.10%) to close at 15,712.75 and the S&P 500 rose 1.08 points (0.02%) to close at 5,071.63. The Russell 2000 fell 7.22 points (0.36%) to close at 1,995.43, and the FT Wilshire 5000 Index rose 0.89 points (0.0018%) to close at 50,973.84. The 10-year Treasury note fell 25/32, bringing the yield to 4.646%. The 30-year Treasury bond fell 28/32, bringing the yield to 4.773%. Benefits Behind the Decision: Why Avangrid Added BlackRock LifePath Paycheck to Its 401(k) Connecticut-based energy company Avangrid is among the first plan sponsors to implement BlackRock’s LifePath Paycheck. Opinions Top Considerations for 403(b) Plans in 2024 Optional SECURE 2.0 provisions and IRS determination letters can help plan sponsors position their plans to meet participant needs. SMALL TALK ON THIS DATE: In 1901, New York became the first U.S. state to mandate license plates when Governor Benjamin Odell, Jr., signed a law ordering automobiles and motorcycles to display “the separate initials of the owner’s name placed upon the back thereof in a conspicuous place.” In 1908, Edward R. Murrow, a radio and television broadcaster during its formative years, was born in North Carolina. In 1915, the Australian and New Zealand Army Corps landed at Gallipoli in western Turkey during the Dardanelles Campaign of World War I. In 1959, one of the largest civil engineering feats ever undertaken, the St. Lawrence Seaway officially opened, linking the Atlantic Ocean with the Great Lakes. In 1990, the Hubble Space Telescope, a sophisticated optical observatory built in the U.S. under the supervision of NASA, was placed into operation by the crew of the space shuttle Discovery. The same year, Violeta Barrios de Chamorro became Central America’s first female president as she was sworn into office in Nicaragua. In 1995, dancer and actress Ginger Rogers died at the age of 83. In 2014, in a cost-saving measure, the water supply of Flint, Michigan, was switched from the Detroit Water and Sewerage Department to the Flint River, causing a public health crisis as residents were exposed to dangerously high levels of lead. In 2015, a magnitude 7.8 earthquake struck near Kathmandu, Nepal, causing widespread damage and killing several thousand. In 2019, basketball player John Havlicek died at the age of 79. In 2021, Chinese filmmaker Chloé Zhao became the first person of color to win the Academy Award for best director; she was recognized for the film “Nomadland,” in 2020, which was also named best picture. 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