| Meant to Aid Struggling Multiemployer Plans, MPRA Adds Complications | Under the Multiemployer Pension Reform Act, the Treasury must review pension plan applications for benefit suspensions—but the process is proving more stringent than applicants and industry experts had anticipated.Read more > | All 403(b) Plan Sponsors Should Focus on Document Remedial Amendment Period | The last day of the 403(b) plan remedial amendment period may seem far off, but it’s not, and both Employee Retirement Income Security Act (ERISA)-governed and non-ERISA 403(b) plan sponsors need to start working on any plan restatements now.Read more > | | Sponsored message from Voya Financial | Three Key Insights Plan Sponsors and Advisers Should Know About Special Needs PlanningRead more > | | Market Mirror | Monday, the Dow fell 653.17 points (2.91%) to 21,792.20, the NASDAQ closed 140.08 points (2.21%) lower at 6,192.92, and the S&P 500 decreased 65.52 points (2.71%) to 2,351.10. The Russell 2000 was down 25.16 points (1.95%) at 1,266.92, and the Wilshire 5000 lost 641.52 points (2.59%) to finish at 24,151.43. The price of the 10-year Treasury note was up 12/32, decreasing its yield to 2.740%. The price of the 30-year Treasury bond increased 23/32, bringing its yield down to 2.997%. | | Small Talk | ON THIS DATE: In 1865, the coffee percolator was patented by James H. Mason. In 1941, Winston Churchill became the first British prime minister to address a joint meeting of the U.S. Congress. In 1941, President Franklin Roosevelt signed a resolution that set a fixed-date, the fourth Thursday of November, for the Federal Thanksgiving Day holiday. In 1974, comedian Jack Benny died at age 80. In 1982, the Man of the Year in “TIME” magazine was a computer. It was the first time a non-human received the honors. In 2002, the first cloned human baby was born. WEDNESDAY WISDOM: “For it is in giving that we receive.”—Francis of Assisi, Italian Catholic friar, deacon and preacher | Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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