January 23rd, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance How the DOL’s Auto-Portability Proposal Works Service providers could charge a fee directly to an IRA owner for executing a transfer to their new qualified plan. Benefits Will Plan Sponsors Adopt PLESAs in 2024? With new guidance from the DOL and IRS, employers have an opportunity to hit the ground running and adopt pension-linked emergency savings accounts this year. Most Read Deals and People LPL Terminates CEO Dan Arnold Administration IRS Provides Tax Relief for Those Impacted by Hurricane Helene Benefits Implementing Retirement Income Strategies MARKET MIRROR Monday, the Dow rose 138.01 points (0.36%) to close at 38,001.81, the Nasdaq rose 49.32 points (0.32%) to close at 15,360.29 and the S&P 500 rose 10.62 points (0.22%) to close at 4,850.43. The Russell 2000 rose 38.99 points (2.01%) to close at 1,983.38, and the FT Wilshire 5000 Index rose 193.15 points (0.40%) to close at 48,918.77. The 10-year Treasury note rose 24/32, bringing the yield to 4.106%. The 30-year Treasury bond rose 24/32, bringing the yield to 4.321%. Compliance DOL Suit Retires Maine Excavator’s 401(k) Plan Maine federal judge approves agreement reached between the Department of Labor and a Maine excavation company that was shuttered in 1991, terminating the plan.  Deals and People Mercer Appoints Susan Potter Region President for US, Canada The Marsh McLennan subsidiary’s new leader for retirement business was promoted from the chief commercial officer role she had held since 2019.   SMALL TALK ON THIS DATE: In 1789, Georgetown College—now Georgetown University—was established in Washington, D.C. In 1849, Elizabeth Blackwell, who was born in England, earned an M.D. degree from Geneva Medical College in New York state, becoming the first American-trained woman physician. In 1939, disability rights activist Ed Roberts, considered the founder of the independent-living movement, was born in San Mateo, California. In 1964, the 24th Amendment to the U.S. Constitution, which prohibited the federal and state governments from imposing poll taxes before a citizen can participate in a federal election, was ratified. In 1977, the TV miniseries “Roots,” an adaptation of Alex Haley’s best-selling novel, debuted; it became one of the most popular shows in the history of American television and galvanized attention on African American issues and history. In 1986, the Rock and Roll Hall of Fame in Cleveland inducted its first class, which included Chuck Berry, Fats Domino and Elvis Presley. In 1997, Madeleine Albright, who had earlier served as U.S. ambassador to the United Nations, assumed under President Bill Clinton the office of secretary of state, becoming the first woman to hold that cabinet post. In 2005, comedian Johnny Carson—who, as host of “The Tonight Show,” established the standard format for television talk shows and came to be considered the king of late-night TV—died at age 79. In 2011, fitness guru Jack LaLanne, who became the first host of a televised exercise program with the debut of “The Jack LaLanne Show,” died at age 96. In 2021, talk-show host Larry King, whose easygoing interviewing style helped make “Larry King Live,” one of CNN’s longest-running and most popular programs, died at age 87. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 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