August 16th, 2022 Insight on Plan Design & Investment Strategy Every Weekday Compliance Inflation Reduction Act Prescribes Fragmented Drug Pricing Reforms An employer trade association criticizes the bill for excluding the commercial market from prescription drug reforms. Data and Research Plan Sponsors and Participants Cite Different ‘Important’ Benefits Although attention to workplace benefits has increased among employers, a new Transamerica Institute survey reveals a chasm between the benefits they value and those that workers prize. 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 Monday, the Dow gained 151.39 points (0.45%) to close at 33,912.44, the Nasdaq increased 80.87 points (0.62%) to 13,128.05 and the S&P 500 extended 16.99 points (0.40%) to close at 4,297.14. The Russell 2000 elevated 4.73 points (0.23%) to 2,021.35 and the Wilshire 5000 won 159.35 points (0.37%) to close at 43,026.81. The price of the 10-year Treasury note increased 4/32, bringing the yield down to 2.795%. The price of the 30-year Treasury bond increased 25/32 lowering the yield to 3.099%. Compliance More TDF Underperformance Lawsuits Emerge Across US Among the latest major employers to be sued under ERISA for alleged underperformance of default investment options are Marsh & McLennan and Advance Publications. Settlement Struck in L Brands ERISA Lawsuit The defendants were accused of failing to monitor the average expense ratios charged to similarly sized plans for investment management fees and recordkeeping. SMALL TALK ON THIS DATE: In 1777, at the Battle of Bennington during the American Revolutionary War, New England’s minutemen routed the British regulars. In 1812, during the War of 1812, General William Hull surrendered Fort Detroit and his army to the British without a fight. In 1896, while salmon fishing near the Klondike River in Canada’s Yukon Territory George Carmack spotted nuggets of gold in a creek bed; his discovery sparked the last great gold rush in the American West. In 1947, Carol Mosely Braun, the first African American woman elected to the United States Senate and the first woman elected to the Senate from Illinois, was born. In 1948, Babe Ruth died at age 53. In 1954, the first issue of Sports Illustrated was released, and the weekly publication—later changed to monthly—became the leading sports magazine in the United States. In 1977, Elvis Presley died in Memphis, at age 42. In 2018, singer Aretha Franklin, who was known as the “Queen of Soul,” died at age 76. 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