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PLANSPONSOR NEWSDASH LOGO April 27th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
COVID-19 May Affect Nondiscrimination Testing
COVID-19 May Affect Nondiscrimination Testing
To avoid failing ADP and ACP testing, industry experts recommend employers utilize mid- or quarter-year projection testing. Doing so can foresee outcomes.
Administration
Cure Periods and Other Ways to Prevent Leakage From Coronavirus Relief Bill
Coupling more generous loan programs with robust educational resources is a good place to start.
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
Administration
Considerations for Public Pensions’ Response to COVID-19 Issues
Sources from CalPERS and NYCRS share discussions they’ve had and actions they’ve taken in response to the financial hit of COVID-19.
PLANSPONSOR Awards
Get to Know Our 2020 Plan Sponsor of the Year Finalists
PLANSPONSOR is pleased to present profiles of our plan sponsor of the year finalists in the Corporate 401(k) >$50MM–$100MM category. Profiles can be seen by clicking on the name of the finalist.
SPONSORED BY: MassMutual
Why COLI? Why MassMutual?
Interview with Mark Laramee Managing Director of COLI Sales, Institutional Solutions
Economic Events
New orders for manufactured durable goods in March decreased $36.0 billion or 14.4% to $213.2 billion, the U.S. Census Bureau announced. This decrease, down following three consecutive monthly increases, followed a 1.1% February increase. Excluding transportation, new orders decreased 0.2%. Excluding defense, new orders decreased 15.8%. Transportation equipment, down two of the last three months, led the decrease, $35.6 billion or 41.0% to $51.2 billion.

Tomorrow, the Conference Board will release its Consumer Confidence Index for April. Thursday, the Department of Labor will issue its initial claims report, and Friday, the Census Bureau will report about construction spending in March.
Market Mirror
Friday, the Dow rose by 260.01 points (1.11%) to close at 23,775.27, the NASDAQ gained 139.77 points (1.65%) to finish at 8,634.52, and the S&P 500 was up 38.94 points (1.39%) at 2,836.74. The Russell 2000 was up 18.99 points (1.56%) to reach 1,233.05, and the Wilshire 5000 gained 387.09 points (1.38%) for a 28,483.89 close.

The price of the 10-year Treasury note was up 1/32, lowering its yield to 0.606%, and the price of the 30-year Treasury bond was up 4/32, lowering its yield to 1.177%.

For the week ending April 24, the Dow declined 1.93%, the S&P 500 was off by 1.32%, and the NASDAQ ticked downward by 0.18%. The Russell 2000 inched upwards by 0.32, but the Wilshire 5000 was down 0.96%.
Products
In-Plan Annuity Market Slowly Takes Shape
Retirement plan providers are striving to implement new ideas and capabilities made possible by the SECURE Act even as they grapple with the challenges of a pandemic.
PAi Incorporates LPL’s Small Market Solution Into Platform
PAi is using it for offerings for small business 401(k) plans and startups
Deals and People,
EBSA Head Rutledge to Depart Role in Late May
Perhaps his most significant contribution was the role Preston Rutledge played in undoing the Obama-era DOL fiduciary rule expansion.
Retirement Industry People Moves
The Wagner Law Group launches Bankruptcy and Restructuring practice; Alight Solutions announces new CEO; Holland & Knight implements Employment Law team; and more.
Small Talk
ON THIS DATE: In 1822, Ulysses S. Grant, Civil War leader and 18th president of the United States, was born. In 1861, West Virginia seceded from Virginia after Virginia seceded from the Union during the Civil War. In 1897, Grant’s Tomb was dedicated. In 1965, “Pampers” were patented by R.C. Duncan. In 1989, student protestors took over Tiananmen Square in Beijing. In 2006, construction began on the 1,776-foot One World Trade Center on the site of former World Trade Center.
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