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PLANSPONSOR NEWSDASH LOGO February 13th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
SECURE 2.0 RMD Change Could Cause Trouble in States With Certain Unclaimed Property Laws
SECURE 2.0 RMD Change Could Cause Trouble in States With Certain Unclaimed Property Laws
Kentucky, Maine, Colorado and Nevada will have to update their escheatment laws or take the risk of unjustly taking over some residents’ IRAs. 
EVENTS
Register to Attend Our Virtual DB Summit
The DB Summit is designed to help plan sponsors that have or are considering adding a DB plan make the important decisions. Discussions and presentations on March 8 and 9 will focus on whether the future environment is conducive to more pension risk transfers, to keeping plans active or to reopening closed plans, as well as what investing strategies can help plan sponsors reach their plan goals.
Join us as we explore the prospective role of DB plans in Americans’ retirement security.
Receive a $10 coffee card if you are among the first 100 registrants who log into the event each day.
Most Read

2023 DC Survey Standouts
Administration
Understanding Investments and Fees: A Key Part of Plan Committee Education
Products
TIAA In-Plan Retirement Income Option Reaches $30B
ECONOMIC EVENTS
Tuesday, the Conference Board will report the Consumer Confidence Index for June. Wednesday, the Census Bureau will report retail sales for January and business inventories for December. Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week, the Bureau of Labor Statistics will report the producer price index for January and the Census Bureau will report housing starts for January.
MARKET MIRROR
Friday, the Dow rose 169.39 points (0.50%) to close at 33,869.27, the Nasdaq lost 71,46 points (0.61%) to close at 11,718.12 and the S&P 500 rose 8.96 points (0.22%) to close at 4,090.46. The Russell 2000 was up 3.47 points (0.18%) to close at 1,918.81 and the Wilshire 5000 advanced 60.23 points (0.15%) to close at 40,790.40. 

The price of the 10-year Treasury note rose 2/32, bringing the yield to 3.738%. The price of the 30-year Treasury bond increased 2/32, bringing the yield to 3.822%.


For the week ending February 10, the Dow lost 0.20%, the Nasdaq fell 2.41% and the S&P 500 dropped 1.11%. The Russell 2000 dropped 3.36%% and the Wilshire 5000 finished 1.44% lower.
DEALS AND PEOPLE
Retirement Industry People Moves
Voya promotes Hayes to government markets and wealth solutions efforts; Epic Retirement promotes Corona to director of sales and strategic partnerships; Empower names new general counsel; and more.
Products
Putnam Brings ESG-Focused TDFs to DC Plan Sponsors
The defined contribution investment provider says the new offering is to meet growing demand from plan sponsors and participants.
Products
Morningstar and PAi Partner on ESG-Driven Pooled Employer Plan
Recordkeeper PAi will run a PEP backed by Morningstar’s ESG overlay, with the firms citing the recent DOL ruling that allows for ESG consideration in retirement plans.
ON THIS DATE
In 1741, “The American Magazine,” the first magazine in the U.S., was published in Philadelphia, Pennsylvania, three days before a competitor publication backed by Benjamin Franklin printed. In 1906, Pauline Frederick, the first woman network radio correspondent, and the first woman to moderate a presidential debate, was born. In 1920, the National Negro Baseball League was organized. The league continued full-time, amid robust operations until one of its own, the Kansas City Monarchs’ Jackie Robinson, broke Major League Baseball’s color barrier in 1947. In 1960, France tested its first atomic bomb—Gerboise Bleue—named after the blue of the tricolor flag and a small desert animal in the Sahara. In 1997, the Dow Jones Industrial Average first eclipsed the 7,000 mark, then closed at 7,022.44. In 2000, the last Peanuts comic strip was published in newspapers, just hours after the death of creator Charles Schulz.
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