August 23rd, 2022 Insight on Plan Design & Investment Strategy Every Weekday Administration Plan Progress Webinar: Plan Design Considerations to Boost Outcomes Experts suggest plan sponsors pair automatic features with multichannel education and emphasize to workers that they should save for retirement at a rate higher than the enrolled minimum.   Compliance Plaintiffs Say Swiss Re Plan Fiduciaries Committed Breaches The plaintiffs suggest their retirement plan’s fiduciaries failed to fully disclose the expenses and risk of the plan’s investment options to participants and beneficiaries, among other allegations. 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 sagged 643.13 points (1.91%) to close at 33,063.61, the Nasdaq fell 323.64 points (2.55%) to 12,381.57 and the S&P 500 slipped 90.49 points (2.14%) to 4,137.99. The Russell 2000 lost 41.60 points (2.13%) to close at 1,915.74 and the Wilshire 5000 decreased 903.98 points (2.14%) to 41,273.32. The price of the 10-year Treasury note decreased 27/32, bringing the yield up to 3.033%. The price of the 30-year Treasury bond decreased 4/32, bringing the yield up to 3.237%. Opinions Retiree Challenges, Attitudes and Retirement Income Priorities Research by the DCIIA Retirement Research Center helps gauge attitudes about savings, spending and financial wellness in retirement. Best Practices | Plan Administration Under-the-Radar Plan Errors Sponsors need to recognize—and avoid—these administrative blunders. SMALL TALK ON THIS DATE: In 1784, four counties in western North Carolina declared their independence as the state of Franklin. The counties lay in what would eventually become Tennessee. In 1814, first lady Dolley Madison saved a portrait of George Washington from being looted by British troops during the War of 1812. In 1838, the first class graduated from Mount Holyoke Female Seminary in South Hadley, Massachusetts, one of the first colleges for women. In 1926, the death of silent-screen idol Rudolph Valentino at the age of 31 sent his fans into a hysterical state of mass mourning. In his brief film career, the Italian-born actor established a reputation as the archetypal screen lover. In 1947, the first Little League World Series champion was crowned. In 1973, a botched bank robbery in Stockholm resulted in a hostage situation, and, over the course of a six-day standoff, the captives formed an unlikely bond with their captor, giving rise to the term “Stockholm syndrome.” In 1978, the late National Basketball Association player Kobe Bryant, one of the leading players in the early 21st century, was born in Philadelphia. In 1989, as punishment for betting on Major League Baseball, Cincinnati Reds manager Pete Rose accepted a settlement that included a lifetime ban from the game. In 2021, the Food and Drug Administration fully approved the Pfizer-BioNTech COVID-19 vaccine for people age 16 and older, following a manufacturing review and analysis of the company’s expanded clinical trial, which included approximately 44,000 participants and found the vaccine to be 91% effective in preventing COVID-19 disease. 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