February 24th, 2025 Insight on Plan Design & Investment Strategy Every Weekday Benefits What Happens to Federal Workers’ Thrift Savings Plan Assets After Being Terminated? As government employees experience mass terminations, they await instructions on how to handle their retirement funds. Compliance Empower Accused of Misusing Participant Data, Cross-Selling in Recent Lawsuit Former participants of insurance company Swiss Re’s retirement plan also accused the firm of allowing the plan to pay excessive recordkeeping fees, offering underperforming investments and under-utilizing forfeiture funds.   Most Read Compliance House Passes Legislative Package Allowing CITs in 403(b) Retirement Plans  Compliance Trump Signs Executive Order Targeting ‘Politically-Motivated’ Proxy Advisers  Compliance IRS Issues Guidance Expanding HSA Access ECONOMIC EVENTS Thursday, the Department of Labor will issue its initial jobless claims report, and Freddie Mac will update average mortgage rates for the week. MARKET MIRROR Friday, the Dow fell 748.63 points (1.69%) to close at 43,428.02, the Nasdaq fell 438.36 points (2.20%) to close at 19,524.01 and the S&P 500 fell 104.39 points (1.71%) to close at 6,013.13. The Russell 2000 fell 66.40 points (2.94%) to close at 2,195.34, and the FT Wilshire 5000 Index fell 1,150.87 points (1.88%) to close at 60,137.59. The 10-year Treasury note increased 28/32, bringing the yield to 4.438%. The 30-year Treasury bond increased 1 23/32, bringing the yield to 4.683%. In the week ending February 21, the Dow fell 2.51%, the Nasdaq fell 2.51% and the S&P 500 fell 1.66%. The Russell 2000 fell 3.71%, and the FT Wilshire 5000 Index finished 2.03% lower. DEALS AND PEOPLE Retirement Industry People Moves Pennsylvania PSERS announces the retirement of Executive Director Sanchez; Wilmington Trust names DiLuigi head of US Markets; Lopes joins Nationwide retirement solutions. EVENTS Register for 2025 PLANSPONSOR National Conference Don’t miss the unique cross section of the retirement plan industry and engaging and insightful presentations and panel discussions throughout the conference, taking place at the Chicago Marriott Downtown Magnificent Mile, June 3 – 6, 2025. Find agendas for the half-day immersive workshops and the rest of the event at this link:  SMALL TALK In 1803, the Supreme Court, led by Chief Justice John Marshall, decided the landmark case of William Marbury v. James Madison, and confirmed the legal principle of judicial review—the ability of the Supreme Court to limit Congressional power by declaring legislation unconstitutional—in the new nation. In 1868, the U.S. House of Representatives voted 126–47 to impeach President Andrew Johnson. In 1900, New York City Mayor Van Wyck signed the contract to begin work on New York’s first rapid transit tunnel. The tunnel would link Manhattan and Brooklyn and the groundbreaking ceremony was on March 24. In 1983, the Dow Jones Industrial Average closed above the 1,100 mark for the first time. In 1991, U.S. ground operations began in the Persian Gulf War, more than a month after an air war was launched against Iraq to free Iraqi-occupied Kuwait. In 2020, film producer Harvey Weinstein was convicted of rape and a criminal sex act; the verdict was a victory for the #MeToo movement, which sought to assist survivors of sexual assault. In 2022, eight years after illegally annexing Crimea, Russia invaded Ukraine under the false claim from Russian President Vladimir, that Ukrainian President Volodymyr Zelensky and other government officials were neo-Nazis.  Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850