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PLANSPONSOR NEWSDASH LOGO January 2nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
What’s Changing in 2024 Under SECURE 2.0
A comparison of the SECURE 2.0 Act of 2022 provisions taking effect in 2024 and prior law, where applicable, according to Groom Law Group, Chartered. 
Benefits
EBSA’s Lisa Gomez Talks DOL 2024 Agenda
The Department of Labor keeps working to implement provisions of 2022’s SECURE 2.0 Act alongside further rules for retirement and health benefits.  
Most Read
Benefits
What the Boeing Union Deal Means for Retirement Benefits
Data and Research
Plan Design, Flexibility Outpace Employer Contributions Among Plan Sponsors’ Priorities
Compliance
SEC Inspector General Warns of More Lawsuits After Loper Bright
ECONOMIC EVENTS
Tuesday, the Census Bureau will report construction spending for November. Thursday, the Department of Labor will release its initial jobless report, and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report the unemployment rate for December.   
MARKET MIRROR
Friday, the Dow fell 20.56 points (0.05%) to close at 37,689.54, the Nasdaq fell 83.78 points (0.56%) to close at 15,011.35 and the S&P 500 fell 13.52 points (0.28%) to close at 4,769.83. The Russell 2000 fell 31.26 points (1.52%) to close at 2,027.07, and the FT Wilshire 5000 Index fell 202.26 points (0.42%) to close at 48,295.38.

The 10-year Treasury note fell 3/32, bringing the yield to 3.881%. The 30-year Treasury bond fell 30/32, bringing the yield to 4.036%.

For the week ending December 29, the Dow rose 0.81%, the Nasdaq rose 0.12% and the S&P 500 rose 0.32%. The Russell 2000 fell 0.34%, and the FT Wilshire 5000 Index ended 0.26% higher.
Compliance
IRS Grab Bag Notice Provides Guidance on Several SECURE 2.0 Items
Regulator offers clarification on automatic features, start-up credits and Roth employer contributions.
Benefits
Kansas Plan Sponsor Gives Workers Cash For Emergencies
The credit union aims to bolster each of its workers’ financial health with a $400 deposit.
Compliance
ASA Calls Fiduciary Proposal Unlawful, Anticipates Litigation
Group questions authority of Acting Labor Secretary Julie Su to approve any final rulemaking.
DEALS AND PEOPLE
Retirement Industry People Moves
Darrin Hebert joins Securian Financial; Vanguard announces senior leadership change.
AWARDS
Nomination Period Open for 2024 Plan Sponsor of the Year Awards
Finalists will be recognized and winners will be announced at PLANSPONSOR’s annual Excellence in Retirement Awards dinner in June.
SMALL TALK
ON THIS DATE: In 1788, Georgia voted to ratify the U.S. Constitution, becoming the fourth state in the U.S. In 1890, President Benjamin Harrison welcomed Alice Sanger as the first female White House staff member. In 1905, Russia surrendered Port Arthur (later Lüshun, China) to the Japanese in the Russo-Japanese War. In 1920, the Palmer Raids occurred when between 3,000 and 10,000 people were arrested in more than 30 U.S. cities, accused of being foreign anarchists, communists, or radical leftists; the raids, led by Attorney General A. Mitchell Palmer, were viewed as the climax of that era’s so-called Red Scare. In 1935, the trial of Bruno Hauptmann began in New Jersey as he faced charges of kidnapping and murdering the infant son of famed American aviator Charles A. Lindbergh; he was found guilty and executed. In 1967, Republican politician Ronald Reagan, who previously worked as an actor, was sworn in as governor of California. In 1974, President Richard M. Nixon signed the Emergency Highway Energy Conservation Act, setting a new national maximum speed limit. In 2004, NASA’s spacecraft Stardust collected dust grains from the comet  Wild 2, and the cometary material was later revealed to contain the amino acid glycine, an essential building block of life.
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