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PLANSPONSOR NEWSDASH LOGO February 22nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
AWARDS
DC SURVEY STANDOUTS ANNOUNCED
DC SURVEY STANDOUTS ANNOUNCED
10 providers received the highest marks when, nationwide, sponsors of defined contribution plans of all sizes answered questions about their satisfaction with recordkeeping providers in the 2023 PLANSPONSOR Defined Contribution Survey.
Products
TIAA In-Plan Retirement Income Option Reaches $30B
Assets in RetirePlus jump to $30 billion from $10 billion in 24 months as demand grows for guaranteed lifetime income.
Most Read
Administration
Another Trump Term May Change Tax Treatment of Retirement Plans
Administration
What SECURE 2.0 Provisions Should Plan Sponsors Be Aware of in 2025?
Data and Research
Are 401(k) Loans Detrimental to Retirement Savings Behavior?
MARKET MIRROR
Wednesday, the Dow rose 48.44 points (0.13%) to close at 38,612.24, the Nasdaq fell 49.91 points (0.32%) to close at 15,580.87 and the S&P 500 rose 6.29 points (0.13%) to close at 4,981.80. The Russell 2000 fell 9.40 points (0.47%) to close at 1,994.74, and the FT Wilshire 5000 Index rose 17.63 points (0.035%) to close at 50,129.93.

The 10-year Treasury note fell 3/32, bringing the yield to 4.321%. The 30-year Treasury bond fell 5/32, bringing the yield to 4.480%.
Compliance
Pennsylvania Federal Judge Orders RiversEdge Out of Retirement Plans
A judge determined the retirement plan recordkeeper and third-party administrator misappropriated millions in clients’ plan assets.  
Administration
New York Life Forges Partnerships With MLB, US Soccer
New York Life will be the official financial guidance partner of Major League Baseball and expanded its commitment to the U.S. Soccer Federation and Little League baseball and softball.  
Compliance
What Does Regulation Best Interest Say About Rollovers?
The SEC has explained that advisers must have a reasonable basis to believe moving assets from a former employer’s plan to an IRA is a better option.
EVENTS
PLANSPONSOR Roadmap: Financial Wellness
Join us March 7 for the insights needed to develop or update financial wellness programs for employees. You’ll hear from plan sponsors, advisers and other industry experts about successful financial wellness strategies, and you’ll come away with resources and checklists to guide you on your own journey of implementing important benefits. 
SMALL TALK
ON THIS DATE: In 1819, Spanish minister Don Luis de Onis and U.S. Secretary of State John Quincy Adams signed the Florida Purchase Treaty, in which Spain agreed to cede the remainder of its province of Florida to the U.S. In 1847, General Zachary Taylor, later the the 12th U.S. president, led troops against a Mexican force commanded by General Antonio López de Santa Anna at the Battle of Buena Vista. In 1932, the purple heart, a U.S. military decoration originally instituted by George Washington in 1782 to honor bravery in battle, was revived as an award for those wounded or killed in action against an enemy. In 1950, basketball player Julius Erving, one of the most colorful and exciting figures in the game during the 1970s and ’80s, was born. In 1959, NASCAR held the first Daytona 500, won by Lee Petty. In 1980, during the 1980 Winter Olympics, against the backdrop of the Cold War, the U.S. men’s ice hockey team defeated the favored Soviet team in one of the greatest upsets in the history of the Olympic Games. In 1997, a team of British scientists working under the direction of Ian Wilmut at the Roslin Institute near Edinburgh announced the birth of Dolly the sheep, the first clone of an adult mammal. In 2011, after enduring more than five months of tremors, Christchurch, New Zealand, and its surrounding area were struck by a massive, destructive 6.3 magnitude earthquake. In 2014, Ukrainian President Viktor Yanukovych was impeached following widespread protests after he abandoned an association agreement with the European Union; he fled the country and was later accused of embezzlement. In 2021, poet Lawrence Ferlinghetti, one of the founders of the Beat movement in San Francisco and owner of the famed City Lights bookstore, died at the age of 101.
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