January 26th, 2022 Insight on Plan Design & Investment Strategy Every Weekday Compliance Detailed Analysis of the Supreme Court’s Northwestern University Ruling Expert attorneys say the new ruling can be interpreted as ‘modestly expanding’ the precedents set by the Supreme Court in Tibble v. Edison, but its ultimate impact may be limited. Deals and People EBSA Nominee Gomez’s Policy Priorities Unclear President Joe Biden’s nominee for assistant secretary of labor for the Employee Benefits Security Administration, Lisa Gomez, has deep experience in labor issues. Most Read Compliance IRS Proposes Regulations for Changes to SECURE 2.0 RMDs Opinions Encouraging Trends in 401(k) Plan Design Compliance What Increased Health Plan-Related Scrutiny Means for Plan Sponsors Economic Events The Conference Board Consumer Confidence Index declined in January, after an increase in December. The Index now stands at 113.8 (1985=100), down from 115.2 in December. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—improved to 148.2 from 144.8 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—declined to 90.8 from 95.4. Market Mirror Tuesday, the Dow was down 66.77 points (0.19%) at 34,297.73, the Nasdaq fell 315.83 points (2.28%) to 13,539.30, and the S&P 500 decreased 53.68 points (1.22%) to 4,356.45. The Russell 2000 lost 29.48 points (1.45%) to finish at 2,004.03, and the Wilshire 5000 closed 612.12 points (1.38%) lower at 43,843.05. The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.782%. The price of the 30-year Treasury bond decreased 2/32, bringing its yield up to 2.126%. Ask the Experts What Is a Look-Through Investment Vehicle? “I was reading the plan document for our 403(b) ERISA plan and came across the term “look-through investment vehicle” in the context of offering a broad range of investment alternatives under ERISA 404(c). Can the Experts tell me what a look-through investment vehicle is, whether any/all of our plan investments (we utilize annuities and mutual funds) are look-through investment vehicles, and any actions we should be taking in this regard?” Insights Heading for the Exits What plan sponsors need to ask themselves—and the participants who are leaving. Small Talk ON THIS DATE: In 1788, Captain Arthur Phillip guided a fleet of 11 British ships carrying convicts to the colony of New South Wales, effectively founding Australia. In 1802, Congress passed an act calling for a library to be established within the U.S. Capitol. In 1837, Michigan became the 26th state to join the United States. In 1934, The Apollo Theatre opened in New York City. In 1961, President John F. Kennedy appointed Dr. Janet G. Travell as the first woman to be the “personal physician to the President.” In 2010, it was announced that James Cameron’s movie “Avatar” had become the highest-grossing film worldwide. In 2020, a helicopter carrying former pro basketball player Kobe Bryant, his 13-year-old daughter Gianna and seven others crashed in Calabasas, California, killing everyone onboard. WEDNESDAY WISDOM: “Humanity is acquiring all the right technology for all the wrong reasons.”—R. Buckminster Fuller, American architect, author and inventor 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