February 29th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Products BlackRock Prepares LifePath Paycheck to Address In-Plan Retirement Income The retirement income solution functions like a target-date fund, embedding the option to annuitize a portion of a participant’s assets starting at age 55. Compliance Julie Su’s Nomination for Secretary of Labor Passes Senate Committee The vote was held in a closed session and advanced by a party-line vote; meanwhile, the Senate committee chaired by Bernie Sanders ponders a return for DB plans. Most Read Compliance 2025 Retirement Outlook Includes Tax Reforms, Cryptocurrency and Litigation Reform Compliance ERIC Files Lawsuit to Invalidate Final Rules on Mental Health Parity Ask the Experts Do New-Plan Auto-Enrollment Rules Apply to Existing Employees? MARKET MIRROR Wednesday, the Dow fell 23.39 points (0.06%) to close at 38,949.02, the Nasdaq fell 87.56 points (0.55%) to close at 15,947.74, the S&P 500 fell 8.42 points (0.17%) to close at 5,069.76. The Russell 2000 lost 15.80 points (0.74%) to close at 2,040.31, and the FT Wilshire 5000 Index lost 98.21 points (0.19%) to close at 51,052.85. The 10-year Treasury note increased 3/32, bringing the yield to 4.266%. The 30-year Treasury bond increased 4/32, bringing the yield to 4.406%. Compliance California Federal Judge Upholds Plan Sponsor in TDF-Selection Case The plan sponsor and its advisers proved they had conducted the appropriate due diligence in selecting funds and managing the retirement plan, the judge concluded.  Administration LIMRA, SPARK Institute Join Forces to Fight Fraud in Retirement Plans The organizations plan to conduct research and educate plan sponsors and participants on fraudulent activity in retirement plans to increase awareness of the rampant issue. RESEARCH Are You a Plan Sponsor Who Works with Advisers? PLANSPONSOR is conducting a survey about the plan sponsor-adviser relationship. Please take the brief survey at the link. SMALL TALK ON THIS DATE: In 1904, Jimmy Dorsey, whose orchestra was one of the most popular big bands of the swing era in the U.S., was born. In 1920, a new, democratic constitution was adopted by the National Assembly elected by Czech and Slovak leaders, furthering the consolidation of the two states into Czechoslovakia. In 1940, for her performance in “Gone with the Wind,” Hattie McDaniel became the first African American to win an Academy Award, for best supporting actress. In 1980, at the age of 51, Canadian hockey player Gordie Howe became the first to score 800 goals in the NHL. In 1992, the Republic of Bosnia and Herzegovina held a referendum on independence that won almost unanimous support, and on March 3 independence was proclaimed, prompting shelling by Serbian forces. In 2004, “The Return of the King”—the last installment in the film adaptation of J.R.R. Tolkien’s epic fantasy “The Lord of the Rings”—received 11 Academy Awards, tying the record held by “Ben-Hur” and “Titanic.” 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