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PLANSPONSOR NEWSDASH LOGO August 31st, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Analysis of Biden’s Retirement Savings Tax Credit Concept
Analysis of Biden’s Retirement Savings Tax Credit Concept
Retirement industry experts say more should indeed be done to help lower-income workers save for the long-term future, but disagreement persists about the best strategies to accomplish this important public policy goal.
Executive Summary
What Is Fair and Reasonable?
Per-participant pricing is the way to go with recordkeeping fees.
Most Read
Deals and People
Empower to Acquire Retirement Plan Clients from Fifth Third Bank
Compliance
MGM Resorts Hit With 401(k) Plan Excessive Fee Suit

2020 Recordkeeping Survey
Economic Events
Tomorrow, the Census Bureau will report about construction spending in July, and Wednesday, it will report about factory orders for July. Thursday, the Labor Department will issue its initial claims report. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for August.
Market Mirror
Friday, the Dow gained 161.60 points (0.57%) to finish at 28,653.87, the NASDAQ closed 70.30 points (0.60%) higher at 11,695.63, and the S&P 500 increased 23.46 points (0.67%) to 3,508.01. The Russell 2000 was up 13.78 points (0.88%) at 1,578.34, and the Wilshire 5000 climbed 256.12 points (0.72%) to 35,841.59.

The price of the 10-year Treasury note climbed 24/32, decreasing its yield to 0.727%. The price of the 30-year Treasury bond increased 2/32, bringing its yield down to 1.506%.

For the week ending August 28, the Dow increased 2.59%, the NASDAQ climbed 3.39%, and the S&P 500 gained 3.26%. The Russell 2000 was up 1.67%, and the Wilshire 5000 finished 3.17% higher.
Compliance
Law Firm Continues Its Roll With ERISA Excessive Fee Suits
The complaint against B. Braun Medical reads like a copy of many suits Capozzi Adler has filed since December.
Investing
New Normal for Interest Rates Embraced by Federal Reserve
In a speech given Thursday about key policy updates, Federal Reserve Chair Jerome Powell said the changes reflect the evolution that has occurred in the U.S. and global economy over the past decade.
Deals and People
Retirement Industry People Moves
DWS appoints client coverage leader; Innovest selects new VPs for retirement practices; and PFM announces appointment to Multi-Asset Class Management Investment Committee.
Products
Principal Debuts 401(k) Platform for Small Businesses
Simply Retirement by Principal is designed for companies with fewer than 100 employees.
Small Talk
ON THIS DATE: In 1897, Thomas Edison received a patent for his movie camera, the Kinetograph. In 1920, John Lloyd Wright was issued a patent for “Toy-Cabin Construction,” which are known as Lincoln Logs. In 1959, Sandy Koufax set a National League record by striking out 18 batters. In 1965, the Department of Housing and Urban Development was created by the House of Representatives and the Senate. In 1990, East and West Germany signed a treaty that meant the harmonizing of political and legal systems. In 1997, Diana, Princess of Wales died in a car crash in Paris.
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