August 10th, 2022 Insight on Plan Design & Investment Strategy Every Weekday Investing GOP Attorneys General Raise Fiduciary, Antitrust Concerns in Letter to BlackRock August 4 letter to CEO Larry Fink seeks ‘clarification on actions that appear to have been motivated by interests other than maximizing financial return.’ Benefits Defined Benefit Plans May Have New Life Don’t call it a comeback: Plan sponsors could thaw frozen defined benefit plans to return them as a retirement benefit for workers.    Most Read Compliance IRS Proposes Regulations for Changes to SECURE 2.0 RMDs Opinions Encouraging Trends in 401(k) Plan Design Compliance What Increased Health Plan-Related Scrutiny Means for Plan Sponsors MARKET MIRROR Tuesday, the Dow slipped 58.13 points (0.18%) to close at 32,774.41, the Nasdaq dropped 150.53 points (1.19%) to 12,493.93 and the S&P 500 sagged 17.59 points (0.42%) to close at 4,122.47. The Russell 2000 lost 28.31 points (1.46%) to 1,912.89  and the Wilshire 5000 was down 267.18 points (0.64%) to close at 41,195.61. The price of the 10-year Treasury note decreased 2/32 bringing the yield up to 2.783%. The price of the 30-year Treasury bond decreased 1/32 bringing the yield up to 2.994%. Benefits PBGC to Provide Nearly $800 Million to Rescue 2 Pension Plans The agency has so far approved $7.4 billion under the Special Financial Assistance Program to pension funds covering more than 149,000 participants. ASK THE EXPERTS Can an Alternate Payee Designate a Beneficiary? Can an alternate payee in our retirement plan designate a beneficiary?” Compliance DOL to Host Compliance Assistance Seminar in Dallas The free event will increase awareness about the fiduciary responsibilities of operating a retirement plan. Investing 401(k) Trading Light in July Despite Market Gains Stable value funds topped inflows, while most outflows were from target-date funds, according to Alight Solutions data. SMALL TALK ON THIS DATE: In 1776, news reached London that the Americans had drafted the Declaration of Independence. Until the Declaration of Independence formally transformed the 13 British colonies into states, both Americans and the British saw the conflict centered in Massachusetts as a local uprising within the British empire. In 1793, the Louvre opened in Paris, and it has become the most-visited museum in the world. In 1821, Missouri became the 24th state to join the Union. In 1846, the Smithsonian Institution was founded in Washington, D.C., by Congress with funds bequeathed by English scientist James Smithson. In 1945, one day after the bombing of Nagasaki, Japan submitted its acquiescence to the Potsdam Conference terms of unconditional surrender, as President Harry S. Truman ordered a halt to atomic bombing. In 1977, 24-year-old postal employee named David Berkowitz was arrested and charged with being the “Son of Sam,” the serial killer who terrorized New York City for more than a year, killing six young people and wounding seven. In 1993, Ruth Bader Ginsburg was sworn in as the second woman and 107th Justice to serve on the US Supreme Court. In 2003, temperatures in U.K. top 100 Fahrenheit for first time. Industry Intel Roundup—Thought Leadership PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring content from thought leadership authorities. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 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