NewsDash – January 12, 2022

January 12th, 2022
Insight on Plan Design & Investment Strategy Every Weekday

Compliance

Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions

Sponsors can craft retirement plan document language to manage their exposure to claims for benefits and other Employee Retirement Income Security Act claims.

Compliance

Intel Prevails Again in ERISA Lawsuit

In considering the plaintiffs’ various claims, the ruling sides firmly with the defense on all but one allegation.

Most Read

Deals and People
Voya Announces Acquisition of OneAmerica's Retirement Plan Business

Benefits
ERISA Advisory Council Delves Into QDIA Retirement Income Offerings

Benefits
Social Security COLA for 2025 Projected at 2.5%

Market Mirror

Tuesday, the Dow was up 183.15 points (0.51%) at 36,252.02, the Nasdaq climbed 210.62 points (1.41%) to 15,153.45, and the S&P 500 increased 42.78 points (0.92%) to 4,713.07. The Russell 2000 closed 22.85 points (1.05%) higher at 2,194.00, and the Wilshire 5000 gained 507.02 points (1.07%) to finish at 47,750.83.

The price of the 10-year Treasury note was up 2/32, decreasing its yield to 1.746%. The price of the 30-year Treasury bond increased 4/32, bringing its yield down to 2.075%.

Ask the Experts

Disadvantages to Allowing Loan Repayment or Initiation After Termination

“I read with great interest your recent Ask the Experts column on why many 403(b) plans allow participants to repay or initiate loans after termination of employment. However, that column did not mention any risks or other disadvantages to plan fiduciaries in allowing such loans. Does that mean there are none?”

Data and Research

Employees’ Improved Finances Mean More Demand for Financial Wellness Tools

Two-thirds of employees surveyed said having access to a financial wellness program would make them more likely to stay with an employer.

December Tops a Stellar Year for Corporate DB Plans

Experts predict another good year in 2022.

Small Talk

ON THIS DATE: In 1896, at Davidson College, several students took X-ray photographs, the first to be made in America. In 1904, Henry Ford set a new land speed record when he reached 91.37 miles per hour. In 1915, Congress established the Rocky Mountain National Park. In 1932, Hattie Ophelia Wyatt Caraway, a Democrat from Arkansas, became the first woman to be elected to the U.S. Senate. In 1960, Dolph Schayes of the Syracuse Nationals became the first pro basketball player in the NBA to score more than 15,000 points in his career. In 1966, “Batman” debuted on ABC-TV. In 1986, space shuttle Columbia blasted off with a crew that included the first Hispanic-American in space, Dr. Franklin R. Chang-Diaz. In 2006, the U.S. Mint began shipping new 5-cent coins to the 12 regional Federal Reserve Banks. The coin has an image of Thomas Jefferson taken from a 1800 Rembrandt Peale portrait in which the president is looking forward. Since 1909, when presidents were first depicted on circulating coins, all presidents had been shown in profile.

WEDNESDAY WISDOM: “If we desire respect for the law, we must first make the law respectable.”—Louis D. Brandeis, lawyer and associate justice on the Supreme Court of the United States from 1916 to 1939

Industry Intel Roundup—Thought Leadership

PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring content from thought leadership authorities. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.