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PLANSPONSOR NEWSDASH LOGO January 31st, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Plan Sponsors Must Bolster HSA Education to Boost Use
Plan Sponsors Must Bolster HSA Education to Boost Use
Despite the tax advantages available, most HSAs account holders don’t capitalize by using HSAs as long-term investments to pay for future qualified health expenses.
Deals and People
Retirement Industry People Moves
J.P. Morgan announces new private equity team; PGIM creates global head of ESG role; OneAmerica bolsters health care sector team with new hire; and more.
Most Read
Data and Research
Health Care in Retirement Will Cost an Average of $315,000
Deals and People
Retirement Industry People Moves
Data and Research
401(k) vs. 403(b): Different Paths to Retirement Readiness
Economic Events
Tomorrow, the Census Bureau will report about construction spending or December. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average mortgage rates for the week, and the Census Bureau will report about factory orders for December. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for January.
Market Mirror
Friday, the Dow added 564.69 points (1.65%) to finish at 34,725.47, the Nasdaq gained 417.79 points (3.13%) to finish at 13,770.57, and the S&P 500 closed 105.34 points (2.43%) higher at 4,431.85. The Russell 2000 increased 37.22 points (1.93%) to 1,968.51, and the Wilshire 5000 climbed 1,059.72 points (2.45%) to 44,400.32.

The price of the 10-year Treasury bond and 30-year Treasury note were each up 2/32, decreasing their yields to 1.780% and 2.090%, respectively.

For the week ending January 28, the Dow climbed 1.34%, the Nasdaq was up 0.01%, and the S&P 500 finished 0.77% higher. The Russell 2000 fell 0.98%, and the Wilshire 5000 increased 0.41%.
Compliance
Case by Participants in Terminated 403(b) Allowed to Proceed
In denying a motion to dismiss, a federal judge said he had been waiting on the Supreme Court’s ruling in Hughes v. Northwestern University.
Attorneys Divided on Supreme Court Ruling’s Employer Impact
The lead plaintiffs’ attorney says the Supreme Court has confirmed that it is the employer’s obligation, not the employee’s, to make sure funds in the plan are prudent and not excessively costly.
Lawsuit Against Trust Company Alleges Self-Dealing
The defendants are accused of using the company's 401(k) plan to prop up its mutual fund business. 
Small Talk
ON THIS DATE: In 1865, the 13th Amendment to the U.S. Constitution was passed by the U.S. House of Representatives. It was ratified by the necessary number of states on December 6, 1865. The amendment abolished slavery in the United States. In 1876, all Native American Indians were ordered to move into reservations. In 1893, the trademark “Coca-Cola” was first registered in the United States Patent Office. In 1940, the first Social Security check was issued by the U.S. Government. In 1950, President Harry Truman announced that he had ordered development of the hydrogen bomb. In 1958, Explorer I was put into orbit around the earth. It was the first U.S. earth satellite. In 1971, Apollo 14, piloted by astronauts Alan B. Shepard Jr., Edgar D. Mitchell and Stuart A. Roosa, was successfully launched from Cape Canaveral, Florida, on a manned mission to the moon. In 1990, McDonald’s Corp. opened its first fast-food restaurant in Moscow, Russia. In 2005, Keanu Reeves received a star on the Hollywood Walk of Fame.
SURVEY SAYS RESPONSES: We are close to knowing which teams will play in this year’s Super Bowl. Last week, I asked NewsDash readers, “Which teams would you like to see play in the Super Bowl, and which team would you like to see win?” Some of the readers who left comments noted that “their team” is not in the running, so that would make them less interested in the outcomes of the games. Still, several are looking forward to a good game and to the commercials, of course. One reader expressed that they are “more focused on the Puppy/Kitten Bowl.” Several readers who left comments expressed relief that Tom Brady would not be at the Super Bowl this year. And I have to agree with the readers who noted that last week’s playoff games would be hard to beat. Just because it was a humorous response and made me laugh out loud, Editor’s Choice this week goes to the reader who said, “Who Dey!!!” A big thank you to all who participated in the survey! Follow the link to see NewsDash readers’ picks.
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