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PLANSPONSOR NEWSDASH LOGO August 5th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Employee Engagement Strategy Greatly Increases Benefit Usage, Including HSAs
Fidelity Investments reports the more an employer communicates with workers on benefits, the likelier they are to use them.
Data and Research
Edward Jones and Age Wave Introduce the New Four Pillars of Retirement
The ideas explain what retirees are focusing on after the workforce and as they enter the next chapter.
Most Read

2020 PLANSPONSOR National Conference

2020 Recordkeeping Survey
Compliance
Excessive Fee, Self-Dealing Charges Filed Against Pentegra-Sponsored MEP
Economic Events
New orders for manufactured durable goods in June increased $14.0 billion or 7.3% to $206.9 billion, the U.S. Census Bureau announced. This increase, up two consecutive months, followed a 15.1% May increase. Excluding transportation, new orders increased 3.3%. Excluding defense, new orders increased 9.2%. Transportation equipment, also up two consecutive months, led the increase, $9.2 billion or 20.0% to $55.3 billion.
Market Mirror
Tuesday, the Dow was up by 164.07 points (0.62%) to reach 26,828.47, the NASDAQ climbed 38.37 points (0.35%) to finish at 10,941.17, and the S&P 500 gained 11.90 points (0.36%) for a 3,306.51 close. The Russell 2000 was up by 10.41 points (0.69%) to reach 1,517.21, and the Wilshire 5000 gained 133.11 points (0.40%) to reach 33,823.62.

The price of the 10-year Treasury note was up 27/32, decreasing its yield to 0.505%, and the price of the 30-year Treasury bond was up 13/32, decreasing its yield to 1.184%.
Data and Research
Participants Maxing Out Their 401(k) Remain Confident
But those who fall short on saving are experiencing financial stress.
Compliance
$10M Settlement Reached in NRECA ERISA Litigation
Beyond the cash reimbursement to the plan, the settlement requires regular fee studies and a recordkeeping RFP process at least once every six years. 
Ask the Experts
How May ACP Testing Results be Affected by COVID-19?
“We sponsor an Employee Retirement Income Security Act (ERISA) 403(b) matching plan that is subject to actual contribution percentage (ACP) testing. Our recordkeeper recently sent us an alert saying our 2020 test results could be affected by the COVID-19 pandemic, but failed to provide any details as to how that is possible. Can the Experts help us out here?”
Small Talk
ON THIS DATE: In 1858, the first telegraph line across the Atlantic Ocean was completed. In 1884, on Bedloe’s Island in New York Harbor, the cornerstone for the Statue of Liberty was laid. In 1914, the first electric traffic signal lights were installed in Cleveland, Ohio. In 1976, the National Basketball Association (NBA) merged with its rival, the American Basketball Association (ABA), and took on the ABA’s four most successful franchises: the Denver Nuggets, the Indiana Pacers, the New York (later Brooklyn) Nets and the San Antonio Spurs. In 1981, President Ronald Reagan began firing 11,359 air-traffic controllers striking in violation of his order for them to return to work. In 2011, NASA announced that its Mars Reconnaissance Orbiter had captured photographic evidence of possible liquid water on Mars during warm seasons.
WEDNESDAY WISDOM: “Big doesn’t necessarily mean better. Sunflowers aren’t better than violets.”—Edna Ferber, novelist
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