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PLANSPONSOR NEWSDASH LOGO December 18th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Performing an Effective Benchmarking of Plan Advisers
Performing an Effective Benchmarking of Plan Advisers
An analysis of advisers’ skills and services helps in finding those with higher skill sets, and those who offer much more value for plan sponsors.
Data and Research
S&P Sees Looming Crisis for State OPEB Funding
A 2018 decline in unfunded OPEB liabilities is masking an increased risk in not matching unfunded liabilities in future years, the ratings agency says.
Most Read
Compliance
DOL ESG Proposal Throws a Cloud Over Prior Guidance
Compliance
Lawsuit Says Plan Fiduciaries Should Have Chosen Less Expensive CITs
Opinions
COVID-19 Compliance Corner: IRS Expands CRD Eligibility and Clarifies Loan Rules
Economic Events
Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,365,000, the Census Bureau reported. This is 3.2% above the revised October estimate of 1,323,000 and is 13.6% above the November 2018 rate of 1,202,000. Single‐family housing starts in November were at a rate of 938,000; this is 2.4% above the revised October figure of 916,000. The November rate for units in buildings with five units or more was 404,000.
Market Mirror
Tuesday, the Dow rose by 31.27 points (0.11%) to reach 28,267.16, the NASDAQ was up by 9.13 points (0.10%) to end at 8,823.36, and the S&P 500 added 1.07 points (0.03%) for a 3,192.52 close. The Russell 2000 was up by 7.63 points (0.46%) to reach 1,657.56, and the Wilshire 5000 gained 24.45 points (0.08%) for a 32,503.70 close.

The price of the 10-year Treasury note was virtually unchanged, with a yield of 1.879%, and the price of the 30-year Treasury bond was down 2/32, lifting its yield to 2.301%.
SPONSORED BY: BlackRock
Income reimagined: Building income solutions into default options
62% of DC participants worry about retirement income. Then why do so few take advantage of guaranteed solutions? It may be that offering a solution is only the first step. Our latest paper explores how plan sponsors may need to use behavioral finance, plan design and default options to reframe how participants think about retirement income.
Compliance
SECURE Act Provisions Folded Into Congressional Spending Bill Passed By House
News that the SECURE Act’s provisions may soon become law caps off a year of intense lobbying efforts, spearheaded in particular by those with an interest in providing lifetime income solutions and annuities.
Warren Asks DOL Secretary Not to Mimic Reg BI
The Democratic presidential candidate fears the DOL is considering a fiduciary rule that would permit advisers providing advice on retirement savings to engage in conflicts of interest.
IRS Proposes Regulations on Compensation Deductions and NQDC Plan Effects
The regulations explain how grandfathered amounts are treated when a distribution is made from a nonqualified deferred compensation (NQDC) plan.
Interim Amendment Needed for Hardship Changes in Pre-Approved Plans
Revenue Procedure 2020-9 extends the deadline, applicable to pre-approved plans, for adopting an interim amendment relating to hardship regulations to December 31, 2021.
Small Talk
More companies are holding a holiday party this year, and their upping the expense, a survey found.
ON THIS DATE: In 1787, New Jersey became the third state to ratify the U.S. Constitution. In 1898, a new automobile speed record was set at 39 mph. In 1903, the Panama Canal Zone was acquired ‘in perpetuity’ by the U.S. for an annual rent. In 1917, the 18th Amendment to the U.S. Constitution (prohibition) was passed by the Senate then officially proposed the states. In 1944, the U.S. Supreme Court upheld the wartime relocation of Japanese-Americans, but also stated that undeniably loyal Americans of Japanese ancestry could not be detained. In 1956, Japan was admitted to the United Nations. In 1979, the sound barrier was broken on land for the first time by Stanley Barrett when he drove at 739.6 mph. In 1998, the House of Representatives began the debate on the four articles of impeachment concerning President Bill Clinton. In 2009, General Motors announced that it would shut down its Saab brand.
WEDNESDAY WISDOM: “A single sunbeam is enough to drive away many shadows.”—Francis of Assisi
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