August 13th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance California Legislation to Regulate PBMs Puts Self-Insured Plans at Risk, ERIC Warns A bill introduced by California state senators proposes increased regulation on pharmacy benefit managers, which have come under fire recently. Investing Funded Status of Corporate Pension Plans Held Steady in July Most investment consultants and research firms found that funded status remained flat in July, with some seeing slight declines.  Most Read Compliance California District Court Dismisses Forfeitures Class Action Against Kaiser Foundation Benefits Bill Would Expand Definition of Federal Law Enforcement for Retirement Purposes Compliance IRS Eases Rules on Pension Plans’ Use of Custom Mortality Tables MARKET MIRROR Monday, the Dow fell 140.53 points (0.36%) to close at 39,357.01, the Nasdaq rose 35.31 points (0.21%) to close at 16,780.61 and the S&P 500 rose 0.23 points (0.00%) to close at 5,344.39. The Russell 2000 fell 18.83 points (0.91%) to close at 2,062.08, and the FT Wilshire 5000 Index rose 50.79 points (0.10%) to close at 53,410.70. The 10-year Treasury note increased 3/32, bringing the yield to 3.906%. The 30-year Treasury bond increased 4/32, bringing the yield to 4.200%. Administration Inspector General’s Office Warns About Social Security Administration Scammers People at or near retirement age are being targeted in hybrid scams involving imposter Social Security Administration employees.  Insights The Best-Laid Plans Participants need to be made aware of the limits on tax diversification, for when they retiree and draw down their savings. SMALL TALK ON THIS DATE: In 1898, the U.S. Army took control of the Philippine port of Manila during the Spanish-American War. In 1919, famed racehorse Man o’ War suffered the only defeat of his career. In 1926, Cuban political leader Fidel Castro, who transformed his country into the first communist state in the Western Hemisphere, was born. In 1967, the crime drama “Bonne and Clyde,” starring Warren Beatty and Faye Dunaway as the outlaw couple, opened in New York City. In 1995, New York Yankees baseball player Mickey Mantle died at age 63. In 2004, cooking expert Julia Child—who brought the art of French cooking to a vast number of Americans through her books—died at age 91. In 2012, writer and magazine editor Helen Gurley Brown—whose upbeat, stylish publications, beginning in the mid-20th century, emphasized sexual and career independence and adventure for a large audience of young women—died at age 90.   Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 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