January 9th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Benefits 3M to Freeze US Pension Plans for Nonunion Employees Pension-eligible employees will still accrue benefits under the pension plans until the 2028 freeze date. Compliance House Members Join Calls to Withdraw DOL Fiduciary Proposal A letter, signed by representatives from both sides of the political aisle, argues the proposed DOL rule changes are unnecessary and harmful to middle-to-low-income savers. Most Read Compliance 2025 Retirement Outlook Includes Tax Reforms, Cryptocurrency and Litigation Reform Compliance ERIC Files Lawsuit to Invalidate Final Rules on Mental Health Parity Ask the Experts Do New-Plan Auto-Enrollment Rules Apply to Existing Employees? MARKET MIRROR Monday, the Dow rose 216.90 points (0.58%) to close at 37,683.01, the Nasdaq rose 319.70 points (2.20%) to close at 14,843.77 and the S&P 500 rose 66.30 points (1.41%) to close at 4,763.54. The Russell 2000 rose 37.86 points (1.94%) to close at 1,989.01, and the FT Wilshire 5000 Index rose 699.32  points (1.47%) to close at 48,138.94. The 10-year Treasury note rose 1/32, bringing the yield to 4.031%. The 30-year Treasury bond rose 1/32, bringing the yield to 4.194% AWARDS Nomination Period Open for 2024 Plan Sponsor of the Year Awards Please take a moment to nominate yourself or a plan sponsor you know for PLANSPONSOR’s 2024 Plan Sponsor of the Year Awards. Sponsors of all plan types and sizes will be recognized. The nomination deadline is January 15. Deals and People David Eisenreich Named North America Head of Retirement at WTW WTW veteran Eisenreich replaces the retiring Michael Archer. SMALL TALK ON THIS DATE: In 1768, Englishman Philip Astley staged the first modern circus in London. In 1839, Louis-Jacques-Mandé Daguerre of France proclaimed his invention of the daguerreotype, the first commercially successful form of photography. In 1861, Mississippi became the second U.S. state, after South Carolina, to secede from the Union in the run-up to the Civil War. In 1908, Simone de Beauvoir, French writer and feminist, was born in Paris. In 1934, professional football quarterback Bart Starr, who led the Green Bay Packers to victory in the first two Super Bowls, was born. In 1941, folksinger and political activist Joan Baez, who was at the forefront of the 1960s folk music revival, was born. In 1960, construction began on the Aswan High Dam in Egypt; upon completion in 1970, it generated enormous amounts of electric power and allowed for the control of the annual Nile flood. In 1972, the longest winning streak in major professional sports was snapped at 33 games when the Milwaukee Bucks beat the Los Angeles Lakers, 120-104. A 39-point performance by the Bucks’ Kareem Abdul-Jabbar handed the Lakers their first loss since October 31. In 1982, Catherine Middleton, who in 2011 married Prince William and became the duchess of Cambridge, was born in Reading, Berkshire, England. In 2001, Apple introduced iTunes, a digital media player application. In 2007, Apple CEO Steve Jobs unveiled the iPhone—a touchscreen mobile phone with an iPod, camera and web-browsing capabilities, among other features—at the Macworld convention in San Francisco. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 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