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IRS Addresses Form 5500 Filing for Plans Adopted Retroactively
No Form 5500 is required for the plan year in which the new plan is effective, but additional filing instructions apply.
Ask the Experts
Can a Plan Allow In-Service Distributions for Only Rehired Retirees?
“We sponsor an ERISA 403(b) retirement plan. On occasion, we rehire retirees for projects and other work. Often they wish to continue their retirement distributions from the plan. However, our plan does not permit in-service distributions. Could we amend our plan to allow in-service distributions ONLY for these rehired retirees? Or would we have to open up in-service distributions to all employees older than 59.5 for these former retirees to take distributions?”
Most Read
More TDF Underperformance Lawsuits Emerge Across US
Data and Research
Plan Sponsors and Participants Cite Different ‘Important’ Benefits
Managed Account Fees Challenged in Latest ERISA Lawsuit
Market Mirror
Tuesday, the Dow gained 162.82 points (0.46%) to finish at 35,264.67, the Nasdaq lost 72.09 points (0.49%) to finish at 14,788.09, and the S&P 500 increased 4.40 points (0.10%) to 4,436.75. The Russell 2000 closed 4.55 points (0.20%) higher at 2,239.36, and the Wilshire 5000 was up 19.79 points (0.04%) at 46,145.06.

The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.355%. The price of the 30-year Treasury bond decreased 27/32, bringing its yield up to 1.995%.
ESG Regulation Submitted to OMB by DOL
The title of the regulation also suggests it will address the related but distinct issue of proxy voting advice and shareholder activism among retirement plan fiduciaries.
Data and Research
July 2021 DB Plan Funded Status Shows Vulnerability to Interest Rate Risk
As discount rates used to measure pension liabilities fell, many plans’ funded status slipped, although the degree of loss depended on a plan’s liability profile and investment mix.
Defined Benefit Compliance Software Added to ftwilliam Suite of Services
The new solution provides a complete valuation, testing and proposal system.
Small Talk
Employees estimate they take 42 minutes of break time per work day, on average, but they actually take 2.7 hours, according to a survey of 1,241 employees with classic “desk jobs” by game site Solitaired. Employees reported engaging in digital activities throughout the work day, and remote workers do more multitasking than when they are in the workplace.
ON THIS DATE: In 1877, the two moons of Mars were discovered by Asaph Hall, an American astronomer. He named them Phobos and Deimos. In 1896, Harvey Hubbell received a patent for the electric light bulb socket with a pull-chain. In 1934, a group of federal prisoners classified as “most dangerous” arrived at Alcatraz Island 1.5 miles offshore in San Francisco Bay. They were the first civilian prisoners to be housed in the new high-security penitentiary. In 1965, an uprising began in the predominantly Black Watts neighborhood of Los Angeles, as racial tension reached a breaking point after two white policemen scuffled with a Black motorist suspected of drunken driving. In 1972, the last U.S. ground combat unit in South Vietnam, the Third Battalion, Twenty-First Infantry, left for the United States. In 1984, track and field athlete Carl Lewis won his fourth gold medal in the Summer Olympics. In 1992, in Bloomington, Minnesota, the Mall of America opened. It was the largest shopping mall in the United States. In 2002, US Airways announced that it had filed for bankruptcy. In 2014, Robin Williams, Oscar-winning actor and comedian, died by suicide at the age of 63.

WEDNESDAY WISDOM: “Life appears to me too short to be spent in nursing animosity, or registering wrongs.”—Charlotte Bronte, English novelist
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.
Holistic Employee Wellness Can Help Recruit and Retain Talent
The pandemic has illuminated what’s most important to employees.
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