August 30th, 2022 Insight on Plan Design & Investment Strategy Every Weekday Administration The Siloed Roles Undergirding Plan Sponsors Continue to Blur The traditional defined contribution roles for supporting plan sponsors are becoming increasingly shared in many areas, according to two asset managers. Benefits California Expands State Retirement Savings Program CalSavers access was boosted for an estimated 750,000 workers, according to the state of California.    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 184.41 points (0.57%) to close at 32,098.99, the Nasdaq lost 124.04 points (1.02%) to 12,017.67 and the S&P 500 was down 27.05 points (0.67%) to 4,030.61. The Russell 2000 slipped 16.89 points (0.89%) to 1,892.94 and the Wilshire 5000 lost 285.54 points (0.70%) to close at 40,313.25. The price of the 10-year Treasury note rose 2/32, bringing the yield to 3.104%. The price of the 30-year Treasury bond decreased 1/32, bringing the yield up to 3.242%. BEST PRACTICES Why Plan Sponsors May Want To Evaluate Their Recordkeeper's Partners The employer’s role in plan participants’ retirement saving process has broadened. SURVEYS DC Survey Now Open For more than 20 years, PLANSPONSOR’s annual Defined Contribution Survey has provided benchmarking data for nearly 50 industries/business sectors and for 401(k), 403(b), and other DC plans, as well as nonqualified plans. Represent your industry and plan type by participating, and you’ll receive a free benchmarking report. SMALL TALK ON THIS DATE: In 1776, General George Washington provided the New York Convention three reasons for the American retreat from Long Island. That same day, he rejected British General William Howe’s second letter of reconciliation. In 1862, During the Civil War, the Second Battle of Bull Run ended with a decisive Confederate victory. In 1905, Major League Baseball player Ty Cobb, made his debut, with the Detroit Tigers. In 1967, Thurgood Marshall became the first African American to be confirmed as a Supreme Court justice. He remained on the Supreme Court for 24 years before retiring for health reasons, leaving a legacy of upholding the rights of the individual as guaranteed by the U.S. Constitution. In 1983, astronaut Guion S. Bluford, Jr., became the first African American to travel into space, serving as a mission specialist aboard the shuttle orbiter Challenger, and later flew on three other missions. In 1994, the largest U.S. defense contractor was created when the Lockheed and Martin Marietta corporations agreed to a merger. In 2002, Conoco Inc. and Phillips Petroleum merged to create ConocoPhillips. The new company was the third largest integrated energy company and the second largest refining company in the U.S. In 2006, the California State Senate passed Assembly Bill (AB) 32—otherwise known as the Global Warming Solutions Act. The law made California the first state in America to place caps on carbon dioxide and other greenhouse gases, including those found in automobile emissions. 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