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PLANSPONSOR NEWSDASH LOGO December 30th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Getting Ready to Include Part-Time Employees in Retirement Plans
Getting Ready to Include Part-Time Employees in Retirement Plans
401(k) plan sponsors need to understand all the parts of the new requirement and, for some, the long-term effects on plan administration.
Benefits
Employers Can Offer More Student Loan Repayment Help to Employees
The CARES Act allows employers to contribute toward employees’ student loan debt tax-free to employees, and employees need guidance on what they can and should do about deferring payments.
Most Read
Compliance
DOL Offers Guidance for Locating Missing Participants

2020 Recordkeeping Survey
Administration
The Mechanics of Moving to a PEP
SPONSORED BY: AYCO
Benefit considerations in uncertain times
Employers are shifting their benefits to help employees navigate the financial impact of COVID-19.
Market Mirror
Tuesday, the Dow decreased 68.30 points (0.22%) to 30,355.67, the NASDAQ closed 49.20 points (0.38%) lower at 12,850.22, and the S&P 500 was down 8.32 points (0.22%) at 3,727.04. The Russell 2000 fell 44.59 points (2.22%) to 1,959.36, and the Wilshire 5000 lost 157.47 points (0.40%) to finish at 39,200.60.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.936%. The price of the 30-year Treasury bond decreased 24/32, bringing its yield up to 1.675%.
Compliance
Paycheck Protection Program Covers Retirement Plan Contributions
The Treasury Department makes clear that the PPP offers help with employer contributions to retirement plans and toward health benefits for employees.
Supreme Court Decision in Thole v. U.S. Bank Has Major Implications for Pensions
The ruling effectively establishes that individual pension plan participants cannot sue their employer for a fiduciary breach if their own benefit has not been cut or otherwise altered.
Actions to Comply With SECURE Act Should Already Be Underway
Though more guidance is expected for certain provisions of the SECURE Act, there are some that are urgent for plan sponsors to address.
Can Employers Use PPP Funds to Contribute to HSAs?
Limited guidance on the regulations makes this answer complex for plan sponsors.
How the SECURE Act Will Impact 403(b) Plans
Sponsors can distribute assets from a 403(b)(7) custodial account, along with other measures.
Administration
Getting SECURE Act’s Lifetime Income Provisions Right
Industry sources agree pains must be taken to ensure mandatory lifetime income projections to participants are accurate and contextual education is provided.
Furloughs Vs. Layoffs: Which May Trigger a Partial Plan Termination?
‘Companies tend to use the terms interchangeably, which is why it can be confusing,’ says Lorie Maring, a partner at Fisher Phillips.
SPONSORED BY: American Century Investments
The Decumulation Conundrum: Income In Retirement
A record number of Americans are currently in retirement, and people are living longer.
Small Talk
What Americans are making resolutions about, and financial resolution suggestions from the AICPA.
ON THIS DATE: In 1853, James Gadsden, the U.S. minister to Mexico, and General Antonio Lopez de Santa Anna, the president of Mexico, signed the Gadsden Purchase in Mexico City. The treaty settled the dispute over the location of the Mexican border west of El Paso, Texas, and established the final boundaries of the southern United States. In 1922, the Union of Soviet Socialist Republics (USSR) was established, comprising a confederation of Russia, Belorussia, Ukraine, and the Transcaucasian Federation (divided in 1936 into the Georgian, Azerbaijan, and Armenian republics). Also known as the Soviet Union, the new communist state was the successor to the Russian Empire and the first country in the world to be based on Marxist socialism. In 1924, Edwin Hubble announced the existence of other galactic systems. In 1940, California’s first freeway was officially opened. It was the Arroyo Seco Parkway connecting Los Angeles and Pasadena. In 1953, the first color TV sets went on sale for about $1,175. In 1961, Jack Nicklaus lost his first attempt at pro golf to Gary Player in an exhibition match in Miami, Florida. In 1976, the Smothers Brothers, Tom and Dick, played their last show at the Aladdin Hotel in Las Vegas and retired as a team from show business. Both continued as solo artists. In 1980, “The Wonderful World of Disney” was cancelled by NBC after more than 25 years on the TV. It was the longest-running series in prime-time television history.
WEDNESDAY WISDOM: “The best way out is always through.”—Robert Frost, American poet
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