February 5th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Investing Steps for Creating an Effective IPS While not required, a road map for investment selection and monitoring is a best practice, and sources now say the more detailed, the better. Awards 2020 Plan Sponsor of the Year Finalists PLANSPONSOR is pleased to announce the Plan Sponsor of the Year finalists in the Nonprofit DC <$500MM and Nonprofit DC >$500MM categories. Most Read Benefits Employers Plan to Cut Back on Benefits Amid Recession Fears Deals and People Smart Bolsters Tech Solutions With Acquisition of ProManage Deals and People Franklin to Add Retirement AUM With Putnam Acquisition Products Lively Launches ‘HSA-Compatible FSA’ The company says the launch is happening in response to “overwhelming customer and partner demand.” Economic Events New orders for manufactured durable goods in December increased $5.7 billion or 2.4% to $245.5 billion, the U.S. Census Bureau announced. This increase, up two of the last three months, followed a 3.1% November decrease. Excluding transportation, new orders decreased 0.1%. Excluding defense, new orders decreased 2.5%. Transportation equipment, up following three consecutive monthly decreases, drove the increase, $5.9 billion or 7.6% to $82.9 billion. Market Mirror Tuesday, the Dow gained 407.82 points (1.44%), finishing at 28,807.63. The NASDAQ increased 194.57 points (2.10%) to 9,467.97, and the S&P 500 gained 48.67 points (1.50%) to finish at 3,297.59. The Russell 2000 closed 24.56 points (1.50%) higher at 1,656.76, and the Wilshire 5000 increased 510.65 points (1.54%) to 33,609.67. The price of the 10-year Treasury note fell 6/32, bringing its yield up to 1.599%. The price of the 30-year Treasury bond fell 1 29/32, increasing its yield to 2.080%. Compliance CBIZ Actuarial Error Lawsuit Moves Ahead A court has ruled against CBIZ’s motion for summary judgement in a lawsuit accusing the firm of making costly actuarial errors. 2nd Circuit Again Remands Decade-Old PwC ERISA Litigation The appellate court disagreed with a lower court finding that reformation of PwC's cash balance plan and the recalculation of benefits in accordance with the reformed plan was an unavailable relief. Ask the Experts Can Plan Sponsors Limit the Automatic Enrollment Opt-Out Period? Experts from Groom Law Group and Cammack Retirement Group answer questions concerning retirement plan administration and regulations. Small Talk ON THIS DATE: In 1917, Congress passed the Immigration Act of 1917 (Asiatic Barred Zone Act) with an overwhelming majority—overriding President Woodrow Wilson’s December 14, 1916 veto. In 1952, in New York City, four signs were installed at 44th Street and Broadway in Times Square that told pedestrians “don’t walk.” In 1953, the Walt Disney’s film “Peter Pan” opened at the Roxy Theatre in New York City. In 1972, Bob Douglas became the first black man elected to the Basketball Hall of Fame in Springfield, Massachusetts. In 1994, white separatist Byron De La Beckwith was convicted in Jackson, Mississippi, of the 1963 murder of civil rights leader Medgar Evers. In 1997, investment bank Morgan Stanley announced a $10 billion merger with Dean Witter. WEDNESDAY WISDOM: “It is amazing how complete is the delusion that beauty is goodness.”—Leo Tolstoy, Russian author Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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