January 13th, 2025 Insight on Plan Design & Investment Strategy Every Weekday Compliance American Airlines Failed to Protect Workers’ 401(k)s in ESG Case, Federal Court Finds A district court in Texas ruled in favor of a class action complaint alleging that the airline and its benefits committee allowed ESG priorities to outweigh financial returns in retirement fund management.  Compliance Treasury, IRS Issue Proposed Regulations on SECURE 2.0 Provisions The agencies proposed guidance on how plan administrators can comply with the Roth catch-up rule that begins in 2026 and, separately, on requirements for auto-enrollment in new plans. Most Read Compliance Judge Blocks Unions’ Motion for Restraining Order Against DOL Compliance Charter Communications Faces 401(k) Forfeiture Suit Data and Research 529 Tuition Savings Plans Hit Net Inflows of $3.1B at End of 2024 ECONOMIC EVENTS Wednesday, the Bureau of Labor Statistics will release the Consumer Price Index for December. 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 696.75 points (1.63%) to close at 41,938.45, the Nasdaq fell 317.25 points (1.63%) to close at 19,161.63 and the S&P 500 fell 91.21 points (1.54%) to close at 5,827.04. The Russell 2000 fell 49.73 points (2.22%) to close at 2,189.23, and the FT Wilshire 5000 Index fell 916.74 points (1.54%) to close at 58,470.83. The 10-year Treasury note decreased 28/32, bringing the yield to 4.769%. The 30-year Treasury bond decreased 1/32, bringing the yield to 4.946%. In the week ending January 10, the Dow fell 1.86%, the Nasdaq dropped 2.34% and the S&P 500 lost 1.94%. The Russell 2000 fell 3.49%, and the FT Wilshire 5000 Index finished 2.02% lower. SPECIAL COVERGE Plan Benchmarking Benchmarking retirement plans is key for ERISA compliance and for overall competitiveness. These stories explore what plan sponsors need to know about it. Deals and People Retirement Industry People Moves Corebridge Financial welcomes Klane as general counsel; Cervantes joins Prime Capital Financial; Gallagher adds Helgens as retirement plan consultant. SMALL TALK ON THIS DATE: In 1942, American industrialist Henry Ford patented plastic automobile construction. In 1968, singer and songwriter Johnny Cash recorded the album “Johnny Cash at Folsom Prison” in front of an audience of some 2,000 inmates at California’s Folsom Prison. In 1997, President Abdala Bucaram Ortiz of Ecuador visited President Alberto Fujimori of Peru, marking the first official visit to Peru by an Ecuadoran president in 150 years. In 2012, the Costa Concordia, a cruise ship carrying some 4,200 people, ran aground and capsized off Giglio Island, Italy; 32 passengers were killed. In 2021, Donald Trump became the first U.S. president to be impeached twice, after the House of Representatives approved an article of impeachment that accused him of “incitement of insurrection” for allegedly encouraging his supporters to storm the Capitol in an effort to overturn the results of the 2020 presidential election, in which Trump was defeated by Joe Biden. 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