August 22nd, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits Capital Group Offering Benartzi’s PensionPlus to TDF Holders The free retirement paycheck management tool will be offered to participants invested in American Fund retirement TDFs. Administration Hawaii Wildfire Victims May Be Eligible for Hardship Withdrawal Tax Relief The Internal Revenue Service is providing expansive tax relief, including waiving the penalty fee for hardship withdrawals, for victims of the wildfires on the islands of Maui and Hawaii.   Most Read Benefits Social Security COLA Increase to Add About $50 per Month in 2025 Administration Many Taxpayers Dodged Penalty Tax for Early Retirement Withdrawals Administration Bills to Ban Arbitration Clauses Reappear in House, Senate MARKET MIRROR Monday, the Dow fell 36.97 points (0.11%) to close at 34,463.69, the Nasdaq rose 206.81 points (1.56%) to close at 13,497.59 and the S&P 500 rose 30.06 points (0.69%) to close at 4,399.77. The Russell 2000 fell 3.41 points (0.18%) to close at 1,856.01 and the FT Wilshire 5000 Index rose 264.05 points (0.60%) to close at 44,338.91. The price of the 10-year Treasury note fell 7/32, bringing the yield to 4.336%. The price of the 30-year Treasury bond fell 1 1/32, bringing the yield to 4.448%.  Compliance Former Director Sues Howard University Pension Plan The former director of academic information resources at Howard University has sued the higher education institution, employees’ pension plan and Howard University Retirement Plan Committee.   EVENTS Cybersecurity Livestream 2023 Cybersecurity is a huge concern in all areas of life, critically in the institutional investing and retirement plan industries. Plan sponsors, asset owners and their advisers want to ensure their data, assets and systems, as well as those of their providers, are safe. Learn what risks exist; optimal practices for protecting assets and data; and what regulations say, including how best to comply with them, at the 2023 Cybersecurity Livestream on October 12. SMALL TALK ON THIS DATE: In 1776, during the American Revolution, British forces arrived at Long Island, between Gravesend and New Utrecht, with “near twenty-four thousand men ready to land in a moment,” according to one observer. In 1865, William Sheppard received the first U.S. patent for liquid soap. In 1904, Chinese Communist leader Deng Xiaoping, who abandoned many orthodox communist doctrines and attempted to incorporate elements of the free enterprise system into the Chinese economy, was born. In 1950, tennis player Althea Gibson won acceptance to compete in the annual tennis championship held at Forest Hills, New York—the U.S Open national tennis tournament—previously the United States Lawn Tennis Association illegally excluded African Americans and was exclusively white. Gibson won her first major victory in 1956, at the French Open in Paris; later winning Wimbledon and the U.S. Open in 1957 and 1958. In 1978, rebel Sandinistas occupied the National Palace in Managua, Nicaragua, holding more than 1,000 hostages for two days in opposition to the government of Anastasio Somoza Debayle. In 1989, during a game against the Oakland Athletics, Nolan Ryan, then 42 of the Texas Rangers struck out Rickey Henderson to become the first Major League Baseball pitcher to register 5,000 strikeouts; Ryan ended his career with a record-setting 5,714 total and recorded two additional no-hitters before retirement. In 2004, The Scream, a painting by Edvard Munch, was stolen from the Munch Museum in Oslo, Norway; it was recovered two years later. 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