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PLANSPONSOR NEWSDASH LOGO August 31st, 2023
Insight on Plan Design & Investment Strategy Every Weekday
Administration
NAGDCA Provides Roth Catch-Up Guidance for Government Plan Sponsors
NAGDCA Provides Roth Catch-Up Guidance for Government Plan Sponsors
Experts from Groom Law Group and NAGDCA noted in a webinar clarifying points from the IRS’s notice that may allow some participants to skip the Roth election.  
Data and Research
Hispanic Workers Continue to Lag in Retirement Savings
Access gap, low employer matches and a lack of tax benefits discourage workers from participating in retirement plans, Boston College research shows.
Most Read
Benefits
9M Student Loan Borrowers Late on Payments, Showing Increased Financial Stress
Compliance
ESOPs Face Scrutiny Over Cash Holdings in Recent Lawsuits
Administration
ERISA Rules of the Road
MARKET MIRROR
Wednesday, the Dow rose 37.57 points (0.11%) to close at 34,890.24, the Nasdaq rose 75.55 points (0.54%) to close at 14,019.31 and the S&P 500 rose 17.24 points (0.38%) to close at 4,514.87. The Russell 2000 gained 7.67 points (0.40%) to close at 1,903.21, and the FT Wilshire 5000 Index gained 185.35 points (0.41%) to close at 45,521.29.

The 10-year Treasury note increased 23/32, bringing the yield to 4.113%. The 30-year Treasury bond increased 1/32, bringing the yield to 4.228%.
Compliance
Court Rules for DOL on ForUsAll Crypto Complaint
A federal court has dismissed a case alleging that the DOL overstepped its bounds when warning recordkeepers and fiduciaries against offering cryptocurrency in retirement plans.
Compliance
PBGC Grants Four Struggling Pensions Close to $500 Million in Assistance
One plan had been insolvent since 2009, and the grant will include back payments.
SMALL TALK
ON THIS DATE: In 1864, during the American Civil War, the Confederate evacuation of Atlanta began, shortly before Union troops led by William Tecumseh Sherman occupied the city, providing a much-needed victory for the North. In 1966, the Harrier “jump-jet” fighter-bomber made its first flight. In 1991, Uzbekistan and Kyrgyzstan declared independence from the Soviet Union. In 1992, an 11-day standoff in Ruby Ridge, Idaho, between government officials and an armed family headed by self-proclaimed white separatist Randy Weaver ended with his surrender. In 1997, Diana, Princess of Wales died in a car crash in the Pont de l’Alma tunnel in Paris while the driver was fleeing the paparazzi. In 1998, North Korea announced the launch of its first satellite. Most space agencies around the world have not been able to confirm whether the launch was successful. In 2016, Brazilian President Dilma Rousseff was impeached and removed from office after the country’s Senate found her guilty of having using state bank funds to cover up a budget a deficit in the run-up to her reelection in 2014.
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