August 29th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance GAO Finds Conflicts of Interest in Sale of Certain Retirement Investments The interests of financial professionals and firms ‘often conflict with the interests of retirement investors,’ according to the watchdog’s report. Benefits Prudential to Complete Industry’s 1st Multiemployer Pension Risk Transfer The $221 million transaction will secure pension benefits for retirees and beneficiaries at Sound Retirement Trust, a multiemployer plan for grocery workers in Washington state. Most Read Compliance Retirement Industry Mostly Applauds ‘Big Beautiful Bill’ Investing Empower Responds to Warren, Urging Private Markets Inclusion in 401(k)s Benefits Defaulting Some DC Plan Assets Into Annuities Could Improve Income in Retirement MARKET MIRROR Wednesday, the Dow fell 159.08 points (0.39%) to close at 41,091.42, the Nasdaq fell 198.79 points (1.12%) to close at 17,556.03 and the S&P 500 fell 33.62 points (0.60%) to close at 5,592.18. The Russell 2000 fell 14.36 points (0.65%) to close at 2,188.64, and the FT Wilshire 5000 Index fell 346.79 points (0.62%) to close at 55,963.62. The 10-year Treasury note decreased 1/32, bringing the yield to 3.840%. The 30-year Treasury bond decreased 1/32, bringing the yield to 4.127%. Administration Educational Assistance Programs Can Be Used to Help Repay Student Loans Employees whose employers offer educational assistance programs can use them to help pay student loan obligations until at least December 2025, according to the IRS. EVENTS Helping Employees Understand, Embrace, and Maximize Their HSA Register today for the webinar on September 5 covering ways plan sponsors can help employees use HSAs to build a more robust, resilient strategy for financial wellness today, tomorrow, and long into the future.  SMALL TALK ON THIS DATE: In 1842, China signed the Treaty of Nanjing, providing for the cession of Hong Kong to the U.K., the opening of five treaty ports, the rights of British nationals accused of criminal acts in China to be tried in British courts and a limitation on duties on imports and exports. In 1877, Brigham Young, religious leader and second president of the The Church of Jesus Christ of Latter-day Saints, died in Salt Lake City, Utah. In 1949, the Soviet Union tested its first atomic bomb. In 1958, Michael Jackson, also known as the “King of Pop,” was born in Gary, Indiana. In 1997, Netflix was founded by entrepreneurs Reed Hastings and Marc Randolph; originally a video-rental company, it later expanded into video streaming and production. In 2005, Hurricane Katrina struck the U.S. Gulf Coast and devastated the area, especially New Orleans, which experienced catastrophic flooding after its levees were breached the following day. In 2008, politician John McCain named Sarah Palin as his running mate, which was the first time a woman appeared on the Republican presidential ticket. In 2016, comic actor Gene Wilder, known for his portrayals of high-strung neurotic characters who generally seem to be striving unsuccessfully to appear more balanced than they are, died at age 83. 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