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February 23rd, 2021
Insight on Plan Design & Investment Strategy Every Weekday
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Events
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What’s on the Minds of Plan Sponsors
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To assist plan sponsors with decisions for 2021, PLANSPONSOR is hosting a one-day forum to address specific areas of retirement program design that may be presenting the biggest challenges. Hear what research has determined about plan sponsors’ priorities—including those that are ongoing and those that have been newly shaped by the COVID-19 pandemic. Listen to your peers discuss defined contribution (DC) plan investment menus, financial wellness programs and retirement income. These discussions will help you craft benefits that serve the needs of your unique workforce and help you meet your fiduciary duties. Register today to attend. 
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| Market Mirror |
Yesterday, the Dow was up 27.37 points (0.09%) at 31,521.69, the Nasdaq fell 341.42 points (2.46%) to 13,533.05, and the S&P 500 closed 30.21 points (0.77%) lower at 3,876.50. The Russell 2000 decreased 15.62 points (0.69%) to 2,251.07, and the Wilshire 5000 lost 430.80 points (1.03%) to finish at 41,316.46.
The price of the 10-year Treasury note decreased 23/32, bringing its yield up to 1.359%. The price of the 30-year Treasury bond fell 1 1/32, increasing its yield to 2.184%.
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Compliance
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Legislation Offers Flexibility for FSAs
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An IRS notice clarifies rules regarding elections without a qualifying event, an extended grace period for unused amounts and other provisions included in the Consolidated Appropriations Act, 2021.
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ON THIS DATE: In 1821, the Philadelphia College of Apothecaries established the first pharmacy college. In 1836, in San Antonio, Texas, the siege of the Alamo began. In 1874, Walter Winfield patented a game called “sphairistike.” More widely known as lawn tennis. In 1868, William Edward Burghardt (W.E.B.) Du Bois was born in Great Barrington, Massachusetts. A brilliant scholar, Du Bois was an influential proponent of civil rights. In 1896, the Tootsie Roll was introduced by Leo Hirshfield. In 1904, the U.S. acquired control of the Panama Canal Zone for $10 million. In 1940, Walt Disney’s animated movie “Pinocchio” was released. In 1945, during the Battle for Iwo Jima, U.S. Marines from the 3rd Platoon, E Company, 2nd Battalion, 28th Regiment of the 5th Division took the crest of Mount Suribachi, the island’s highest peak and most strategic position, and raised the U.S. flag. Marine photographer Louis Lowery was with them and recorded the event. In 1954, a group of children from Arsenal Elementary School in Pittsburgh, Pennsylvania, received the first injections of the new polio vaccine developed by Dr. Jonas Salk. In 1963, the 24th Amendment to the U.S. Constitution was ratified. It prohibited poll taxes in federal elections. In 1968, Wilt Chamberlain (Philadelphia 76ers) became the first player to score 25,000 career points in the NBA.
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