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PLANSPONSOR NEWSDASH LOGO August 3rd, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Administration
IRS Updates Life Expectancy Tables for Retirees
IRS Updates Life Expectancy Tables for Retirees
The tax and spending watchdog has changed the defined contribution account withdrawal rules for retirement plan participants.
Compliance
Passive TDF Performance Scrutinized in Latest String of ERISA Lawsuits
A new complaint against Booz Allen Hamilton alleges that ‘a simple weighing of the merits and features of all other available TDFs’ would have raised significant concerns for prudent fiduciaries.
Most Read
Compliance
More TDF Underperformance Lawsuits Emerge Across US
Data and Research
Plan Sponsors and Participants Cite Different ‘Important’ Benefits
Compliance
Managed Account Fees Challenged in Latest ERISA Lawsuit
MARKET MIRROR
Tuesday, the Dow fell 402.23 points (1.23%) to close at 32,396.17, the Nasdaq fell 20.22 points (0.16%) to 12,348.76 and the S&P 500 slipped 27.44 points (0.67%) to close at 4,091.19. The Russell 2000 was down 0.86 points (0.05%) to 1,882.45 and the Wilshire 5000 fell 207.17 points (0.50%) to close at 40,826.90.

The price of the 10-year Treasury note dropped 1 6/32, bringing its yield up to 2.753%. The price of the 30-year Treasury bond decreased 1 31/32, bringing its yield up to 3.014%. 
Data and Research
Investment Underperformance Is Plan Sponsors’ Top Worry
Concern about underperformance of plan investment options hits 57% in 2022, up by 6 percentage points since 2021, according to a report.
ASK THE EXPERTS
Should Each Recordkeeper Use Its Own Plan Document?
“We sponsor an ERISA 403(b) plan with two recordkeepers. Should each recordkeeper be using its own preapproved plan document as the plan document for the plan, so that the plan essentially has two documents?”
SMALL TALK
ON THIS DATE: In 1777, at the Siege of Fort Stanwix, the first U.S. flag was officially flown during battle. In 1900, Firestone Tire & Rubber Co. was founded. In 1905, Maggie Kuhn, a senior rights activist, was born. She founded the Gray Panthers movement after she was forced to retire from her job; the group became known for advocating for nursing home reform and fighting ageism. In 1914, Germany declared war on France in World War I. In 1921, eight Chicago White Sox players were banned from baseball for life, having been accused of receiving bribes to intentionally lose the 1919 World Series. In 1923, Calvin Coolidge was sworn in as the 30th president of the United States, hours after the death of President Warren G. Harding. In 1943, after a three-year battle for both players and fans, the rival Basketball Association of America and National Basketball League merged to form the National Basketball Association. In 1960, the Republic of Niger won independence from France. In 1984, gymnast Mary Lou Retton won the all-around event at the Los Angeles Games and became the first American woman to win an individual Olympic gold medal in gymnastics. In 1996, the pop song  “Macarena” began its reign atop the U.S. pop charts.
Industry Intel Roundup—Featured Webcasts
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
SPONSORED BY: Fidelity
Health benefits blueprint: Six ways to help employees stay healthy and productive while controlling costs
More is being asked of employers and the workplace benefits they offer—including health care. Our session draws on the latest research to uncover six ways employers can help employees stay healthy and productive while controlling costs—from better decision support and navigation to more robust strategies for tackling mental health, helping employees pay for care, and incubating next-gen benefits.
PLANSPONSOR Webinar: Plan Design Consideration to Boost Outcomes
Sponsored by AIG Retirement Services Research has shown that automatic enrollment has done much to improve the retirement savings of Americans—especially for lower-income employees. However, auto-enrollment must be paired with additional features to ensure retirement plan participants accumulate sufficient savings. How should plan sponsors think about decumulation and retirement income features? And what role do emergency savings options and financial wellness solutions have in boosting retirement outcomes? Join PLANSPONSOR for a discussion with industry experts and a plan sponsor about: • What retirement plan design features have been shown to boost outcomes for participants; • Innovative ideas for plan design; and • How attention to overall financial wellness can improve retirement security for employees. Speakers will also talk about what education is needed to best set participants up for success.
PLANSPONSOR Webinar: Elements to Help Participants Prepare for Retirement
Sponsored by AIG Other than accumulating savings, employer-sponsored retirement plan participants—especially those older than 50—need to understand what their resources and expenses will be in retirement, and they need a plan for drawing down their savings to meet those expenses. Investment options that preserve savings, tools to estimate basic and health care expenses, plans for claiming Social Security and decumulation strategies will help participants approaching and in retirement feel more secure that they will not outlive their savings. At a time of rising inflation and market volatility, tools for addressing sequencing risk are also important. Join PLANSPONSOR and a panel of experts for the July installment of the Plan Progress webinar series during which the elements to help participants prepare for retirement will be discussed. Attendees will learn: • What tools will help participants estimate retirement expenses and the amount of income they can expect and will need; • Which investment options plan sponsors can include in their retirement plan lineups to help participants preserve their savings; and • The differences between retirement income/decumulation options that plan sponsors can offer to participants. Speakers will delve into how plan sponsors can incorporate retirement income options in their plans.
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