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Settlement Details Published in Jander v. IBM
Settlement Details Published in Jander v. IBM
Prior to settlement, the long-running stock drop lawsuit received multiple appellate court rulings and consideration from the U.S. Supreme Court.
Ask the Experts
QBAD Distribution Limits When One Spouse Doesn’t Participate in a Retirement Plan
“Our 403(b) plan allows for qualified birth or adoption (QBAD) distributions consistent with the SECURE Act’s amendments to Internal Revenue Code section 72(t)(2). Recently, we had a plan participant request a QBAD for $10,000 related to the adoption of a child, but the plan participant’s spouse is NOT a participant in our 403(b) plan. We realize that under the SECURE Act, each spouse, individually, is eligible for a $5,000 QBAD from an eligible retirement plan, but can the plan participant take a single $10,000 QBAD from our 403(b) plan to cover both spouses? The spouse does not have a retirement plan or IRA from which to take a QBAD, which is why the participant is requesting the $10,000 distribution.”
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Data and Research
Not Having a Retirement Drawdown Strategy Can Affect Retirement Security
DuPont Plan Participants Claim Arbitrary Interpretation Reduced Their Pension Benefits
2021 Recordkeeping Survey
Market Mirror
Tuesday, the Dow closed 96.95 points (0.29%) lower at 33,430.24, the Nasdaq was down 7.21 points (0.05%) at 13,698.38, and the S&P 500 decreased 3.97 points (0.10%) to 4,073.94. The Russell 2000 climbed 63.36 points (2.89%) to 2,259.15, and the Wilshire 5000 was up 9.84 points (0.02%) at 42,815.64.

The price of the 10-year Treasury note increased 26/32, bringing its yield down to 1.654%. The price of the 30-year Treasury bond climbed 28/32, decreasing its yield to 2.320%.
Data and Research
Health Care Plan Selection Can Hamper Retirement Savings
Voya finds that HDHPs paired with HSAs are often a more optimal choice for participants than PPOs.
HSAs Continue to Grow in Popularity
A Devenir report finds more employees are also investing their HSA assets.
Small Talk
ON THIS DATE: In 1798, the territory of Mississippi was organized. In 1927, the first long-distance TV transmission was sent from Washington, D.C. to New York City. The audience saw an image of Commerce Secretary Herbert Hoover. In 1933, prohibition ended in the United States. In 1940, Booker T. Washington became the first Black person to be pictured on a U.S. postage stamp. In 1948, the musical “South Pacific” by Rogers and Hammerstein debuted on Broadway. In 1948, the United Nations’ World Health Organization began operations. In 1953, IBM unveiled the IBM 701 Electronic Data Processing Machine. It was IBM’s first commercially available scientific computer. In 1963, at the age of 23, Jack Nicklaus became the youngest golfer to win the Green Jacket at the Masters Tournament. In 1970, the legendary actor John Wayne won his first—and only—acting Academy Award, for his role in the movie “True Grit.” In 1980, the U.S. broke diplomatic relations with Iran and imposed economic sanctions in response to the taking of hostages on November 4, 1979. In 1983, Specialist Story Musgrave and Don Peterson made the first Space Shuttle spacewalk. In 2000, President Bill Clinton signed the Senior Citizens Freedom to Work Act of 2000. The bill reversed a Depression-era law and allows senior citizens to earn money without losing Social Security retirement benefits.
WEDNESDAY WISDOM: “A bank is a place that will lend you money if you can prove that you don’t need it.”—Bob Hope, comedian and actor
Industry Intel Roundup—Featured Webcasts
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
PLANSPONSOR 2021 Plan Progress Series: Considerations for Pension Risk Transfer
Sponsored by Securian Financial Pension risk transfer (PRT) activity has been increasing year over year, although it slowed somewhat during the COVID-19 pandemic. PRT can be an effective tool for plan sponsors to reduce risk and eliminate some liabilities, but it should be done in a cost-effective way.
SPONSORED BY: Charles Schwab
Post-COVID Insights From 401(K) Participants
In the wake of the pandemic, what are 401(k) participants’ specific wants and needs? How are they changing their approach to spending and saving? What are their top five must-have benefits? Tune in to a webinar hosted by Schwab Retirement Plan Services, Inc. for firsthand knowledge gleaned from an exclusive 401(k) Participant Survey. Register now – it’s an insightful 45 minutes you don’t want to miss
SPONSORED BY: Morningstar
Designing the Modern Retirement Plan During the COVID-19 Pandemic
The past 18 months have altered the workplace in ways we could never have anticipated. With the ongoing effects of the COVID-19 pandemic, increasingly tight labor market, and remote working environment, plan sponsors have been posed with the challenge of closely evaluating their retirement plan in order to help attract and retain talent. As we continue to navigate the pandemic and adapt to the long-term impacts of remote work, employees who no longer work from the office are seeking greater holistic, personalized financial advice from their employers.1 In this webinar, we’re going to discuss how the needs of employees are evolving and the implications this may have on the way you design and structure your retirement plan. Key discussion points include: Challenges plan sponsors have faced with engaging a remote workforce The growing trend of offering holistic financial solutions and personalized advice Designing retirement plans to be more effective decumulation vehicles
PLANSPONSOR 2021 Plan Progress Series: Benchmarking Your Recordkeeper
Selecting the best recordkeeper for retirement plan participants and monitoring that recordkeeper are part of a plan sponsor’s fiduciary duties. Consolidation in the industry has continued at a steady pace and recordkeepers compete with technology and other services, so it is getting more difficult for plan sponsors to discern the best choice for their plan from others.
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