NewsDash – February 17, 2021

February 17th, 2021
Insight on Plan Design & Investment Strategy Every Weekday

Administration & Governance | Outsourcing

Administrative Assistance

What 3(16) fiduciary responsibility means and how outsourcing it works.

Products

BPAS ‘Solutions Squad’ to Help on Technical Matters

It can also provide resources to help in working with legal counsel, accounting firms and regulators.

Most Read

Benefits
Defined Benefit Plans May Have New Life

Ask the Experts
Can an Alternate Payee Designate a Beneficiary?

Data and Research
Retirement Plan Provider Technology Investments Show Success

Market Mirror

Tuesday, the Dow increased 64.35 points (0.20%) to 31,522.75, the Nasdaq closed 47.98 points (0.34%) lower at 14,047.50, and the S&P 500 was down 2.24 points (0.06%) at 3,932.59. The Russell 2000 lost 16.47 points (0.72%) to finish at 2,272.89, and the Wilshire 5000 decreased 70.04 points (0.17%) to 42,029.81.

The price of the 10-year Treasury note decreased 30/32, bringing its yield up to 1.300%. The price of the 30-year Treasury bond fell 1 6/32, increasing its yield to 2.090%.

Compliance

No Entitlement to Summary Judgment in Lowe’s ERISA Case

There are so many arguments back and forth in a case alleging imprudence in investment choices for Lowe’s 401(k) plan that a judge said no one is entitled to summary judgment.

Washington Watchers See Good Prospects for Further Retirement Reforms

Among the potential retirement policy solutions that could become law in 2021 is a provision to allow 403(b) plans to access collective investment trusts, which can be beneficial for more than just their low fees.

Small Talk

Both new and experienced remote employees struggle with motivation, a survey found. The survey also revealed remote work has employees desiring different perks from their employers and dress codes when working remotely have changed since before the pandemic.

ON THIS DATE: In 1801, Thomas Jefferson was elected the third president of the United States. In 1820, the Senate passed the Missouri Compromise, containing restriction on slavery in other western territories. In 1924, swimmer Johnny Weissmuller set a world record in the 100-yard freestyle. He did it with a time of 57.4 seconds in Miami, Florida. In 1933, “Newsweek” was first published. In 1934, the first high school automobile driver’s education course was introduced in State College, Pennsylvania. In 1964, the U.S. Supreme Court ruled that congressional districts within each state had to be approximately equal in population. (Westberry v. Sanders). In 1996, in the final game of a six-game match, world chess champion Garry Kasparov triumphed over Deep Blue, IBM’s chess-playing computer, and won the match, 4-2. In 2005, President George W. Bush named John Negroponte as the first national intelligence director.

WEDNESDAY WISDOM: “Too often we… enjoy the comfort of opinion without the discomfort of thought.”—John F. Kennedy

Industry Intel Roundup—Featured White Paper

PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring white papers offering key insights and analysis about the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.