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PLANSPONSOR NEWSDASH LOGO February 25th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Reasons Exist to Turn a Cold Shoulder to Company Stock in DC Plans
Reasons Exist to Turn a Cold Shoulder to Company Stock in DC Plans
However, if plan sponsors choose to offer company stock, there are efforts they can take to mitigate a litigation or participant outcomes meltdown.
2020 PLANSPONSOR National Conference
Why Should You Attend PSNC?
Discussions and presentations by people from a cross-section of the retirement plan industry; insight and education about plan design, investments, administration and compliance; a chance to hear from peer plan sponsors; documentation of sessions attended to put into a fiduciary file; and chances to gain continuing education credits. All this at a beautiful resort in Orlando, Florida, with some fun activities included. Need we say more? You can register for the event here.
Most Read
Compliance
DOL ESG Proposal Throws a Cloud Over Prior Guidance
Compliance
Lawsuit Says Plan Fiduciaries Should Have Chosen Less Expensive CITs
Opinions
COVID-19 Compliance Corner: IRS Expands CRD Eligibility and Clarifies Loan Rules
SPONSORED BY: Fidelity
The Benefits Balancing Act
Offering more benefits typically leads to recruitment success, but it’s not as simple when it comes to retention.
Market Mirror
Yesterday, the Dow plunged 1,031.61 points (3.56%) to 27,960.80, the NASDAQ fell 355.31 points (3.71%) to 9,221.28, and the S&P 500 lost 111.86 points (3.35%) to finish at 3,225.89. The Russell 2000 dropped 67.97 points (4.01%) to 1,628.10, and the Wilshire 5000 plummeted 1,128.71 points (3.31%) to 32,937.58.

The price of the 10-year Treasury note increased 32/32, bringing its yield down to 1.370%. The price of the 30-year Treasury bond climbed 2 0/32, decreasing its yield to 1.830%.
Compliance
High Court Rules Seizure of Property From Puerto Rico Catholic Churches Was Wrong
Not addressing the question of whether the Puerto Rico Supreme Court violated the First Amendment, the U.S. Supreme Court found a lower court lacked jurisdiction to issue payment and seizure orders.
Hilton Hotels Allegedly Has Vesting Issues
The hotel chain is being sued for not using a court-ordered equivalency method for calculating vesting service to participants in its pension plan.
Dated Mortality Assumption ERISA Lawsuit Will Proceed to Trial
The decision against summary dismissal of Herndon vs. Huntington Ingalls is made more significant by the fact that similar cases have been filed against large employers across the U.S.
Small Talk
ON THIS DATE: In 1791, First Bank of the United States was chartered by Congress and signed by President George Washington. In 1793, the department heads of the U.S. government met with President George Washington for the first Cabinet meeting on U.S. record. In 1836, Samuel Colt received U.S. Patent No. 138 (later 9430X) for a “revolving-cylinder pistol.” It was his first patent. In 1862, Congress passed the Legal Tender Act, authorizing the use of paper notes to pay the government’s bills. In 1870, Hiram Rhodes Revels, a Republican from Natchez, Mississippi, was sworn into the Senate, becoming the first African American ever to sit in Congress. In 1901, the United States Steel Corp. was incorporated by J.P. Morgan. In 1913, the 16th Amendment to the U.S. Constitution was ratified. It authorized a graduated income tax. In 1964, 22-year-old Cassius Clay shocked the odds-makers by dethroning world heavyweight boxing champ Sonny Liston in a seventh-round technical knockout.
TRIVIAL PURSUITS: From where did the phrase “passed with flying colors” come?
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