January 26th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Compliance SECURE 2.0 Accidentally Dropped Catch-Ups, But Industry is On the Case Legislators seem to have dropped a section from the final version of SECURE 2.0 that nullifies catch-up contributions in retirement plans, but an industry advocate has already called for a fix. Benefits Delta Pilots Emergency Savings Program The airline has partnered with Fidelity Investments to run a program in which enrolled workers can earn up to $1,000 to seed an emergency savings account. 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 MARKET MIRROR Wednesday, the Dow gained 9.88 points (0.03%) to close at 33,743.84, the Nasdaq lost 20.92 points (0.18%) to close at 11,313.36 and the S&P 500 lost 0.73 points (0.02%) to close at 4,016.22. The Russell 2000 gained 4.71 points (0.25%) to close at 1,890.32 and the Wilshire 5000 gained 6.65 points (0.02%) to close at 40,046.19. The price of the 10-year Treasury note increased 1/32, bringing the yield to 3.448%. The price of the 30-year Treasury bond decreased 1/32, bringing the yield to 3.596%.  Deals and People MFS Investment Management Hires SECURE 2.0 Expert as Retirement Strategist Industry research veteran Jeri Savage, previously at Goldman Sachs, joins to lead defined contribution plan efforts. ONLINE SPECIAL COVERAGE Cybersecurity for Retirement Plans Cyberthreats are always growing and plan fiduciaries need to take myriad steps to mitigate the risks to participants and assets. SURVEYS CIO’s Transition Management Survey Are you a provider of transition management services and want to make your services known to institutional investors? If so, you are invited to respond to CIO’s Transition Management Survey. SMALL TALK ON THIS DATE: In 1837, Michigan became the 26th U.S. state admitted to the union. In 1892, Bessie Coleman, an aviator and the first African American woman to earn a pilot’s license, was born. In 1922, she became the first African American woman to stage a public flight in America. In 1944, Angela Davis, an American civil rights activist, was born. In 1950, India became a republic when it achieved full independence from the United Kingdom. In 1988, Andrew Lloyd Webber’s “The Phantom of the Opera,” a musical version of Gaston Leroux’s melodramatic novel, opened in New York City and went on to become the longest-running show in Broadway history. In 2005, President George W. Bush appointed Condoleezza Rice to the post of secretary of state, which made her the highest ranking African American woman ever to serve in a presidential cabinet. In 2020, retired basketball player Kobe Bryant—considered one of the sport’s greats after winning five National Basketball Association championships with the Los Angeles Lakers—died, along with daughter Gianna and seven others, in a helicopter crash at the age of 41. 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