April 30th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Benefits Employees Need Review of Social Security Strategies During Financial Crises Research shows older employees may turn to Social Security for income following a financial crisis, but that can throw retirement planning off course. PLANSPONSOR Awards Get to Know Our 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) >$1B category. Profiles can be seen by clicking on the name of the finalist. Most Read Compliance DOL Offers Guidance for Locating Missing Participants Administration The Mechanics of Moving to a PEP 2020 Recordkeeping Survey Market Mirror Wednesday, the Dow was up 532.31 points (2.21%) at 24,633.86, the NASDAQ gained 306.98 points (3.57%) to finish at 8,914.71 and the S&P 500 increased 76.12 points (2.66%) to 2,939.51. The Russell 2000 climbed 78.89 points (6.15%) to 1,360.76, and the Wilshire 5000 closed 842.87 points (2.92%) higher at 29,719.10. The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.626%. The price of the 30-year Treasury bond fell 1 1/32, bringing its yield up to 1.245%. Compliance DOL Provides Relief for Certain Retirement Plan Requirements Relief is provided for verification requirements for loans and distributions and timing for forwarding contributions and loan repayments, among other things. ERISA Lawsuit Against Trader Joe’s Dismissed A federal judge said the plaintiffs' guess of recordkeeping fees paid had no factual basis and failed to claim a breach of fiduciary duties. Regulators Extend Time Frames for Special and COBRA Health Plan Enrollment Extended time limits disregard the period from March 1 until 60 days after the announced end of the national emergency or such other date announced by the agencies in a future notice. Barrick Gold Faces Lawsuit About 401(k) Investment Selections The lawsuit is nearly identical to one filed by the same law firm against a pharmaceutical company. Small Talk ON THIS DATE: In 1789, George Washington took office as first elected U.S. president. In 1803, the U.S. purchased the Louisiana Territory from France for $15 million. In 1812, Louisiana was admitted as the 18th U.S. state. In 1897, British physicist J.J. Thomson announced the discovery of electrons. In 1938, Happy Rabbit appeared in the cartoon “Porky’s Hare Hunt.” This rabbit would later evolve into Bugs Bunny. In 1945, holed up in a bunker under his headquarters in Berlin, Adolf Hitler committed suicide by swallowing a cyanide capsule and shooting himself in the head. In 1947, the name of Boulder Dam, in Nevada, was changed back to Hoover Dam. In 1952, Mr. Potato Head became the first toy to be advertised on network television. In 1993, four years after publishing a proposal for “an idea of linked information systems,” computer scientist Tim Berners-Lee released the source code for the world’s first web browser and editor—what he called the WorldWideWeb. In 2015, NASA’s Messenger spacecraft crashed into the surface of Mercury. The space probe sent back more than 270,000 pictures to earth. SURVEY SAYS: Shutdowns and stay-at-home orders during the COVID-19 pandemic may have many of us rethinking our living arrangements and finances. This week, I’d like to know what things you are thinking about changing within the next 12 months. You may respond to this survey by 6 p.m. Pacific time today. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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