July 11th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance Legislation to Overturn Fiduciary Rule Advances Through House Committee The House Committee on Education and the Workforce voted 23 to 18 to nullify the Retirement Security Rule. Participants IRS Notice Defines Retirement Plan Tax Distribution Exceptions The IRS has provided guidance on certain exceptions from the 10% tax penalty for emergency personal or family expenses and for survivors of domestic abuse. Most Read Compliance National Rural Electric Cooperative Hit With ERISA Complaint; UnitedHealth Finalizes $69M Settlement Compliance What’s in, What’s Out of Senate’s GOP Tax Plan Data and Research Corporate Pension Funding Continues Rebound in May MARKET MIRROR Wednesday, the Dow rose 429.39 points (1.09%) to close at 39,721.36, the Nasdaq rose 218.16 points (1.18%) to close at 18,647.45 and the S&P 500 rose 56.93 points (1.02%) to close at 5,633.91. The Russell 2000 rose 22.28 points (1.10%) to close at 2,051.75, and the FT Wilshire 5000 Index rose 553.97 points (1.00%) to close at 56,019.14. The 10-year Treasury note rose 1/32, bringing the yield to 4.290%. The 30-year Treasury bond rose 1/32, bringing the yield to 4.488%. Benefits As Benefits Costs Increase, Employees Tighten Budgets Workers are looking to spend less on benefits and reduce costs where they can, according to new research from LIMRA.  Compliance Employer Forfeited Funds Complaint Against HP Inc. 401(k) Plan Is Dismissed A federal judge ruled the suit’s ‘theory of liability’ was too broad and dismissed the complaint, which focused on the use of plan forfeitures. Compliance SEC to Re-Propose Swing Pricing The new proposal is likely to emerge in 2025. SMALL TALK ON THIS DATE: In 1798, the U.S. Marine Corps, originally established in 1775, was formally reestablished. In 1804, outraged over disparaging remarks that Alexander Hamilton had allegedly made at a dinner party, Aaron Burr challenged his longtime rival to a duel, and he fatally shot Hamilton in Weehawken, New Jersey. Hamilton died on July 12, in New York City. In 1863, angered by unfair practices in Civil War conscription, New York City workers rioted and attacked draft headquarters. In 1914, George Herman (“Babe”) Ruth played in his first Major League Baseball game, for the Boston Red Sox. In 1936, the Triborough Bridge (later renamed the Robert F. Kennedy Bridge), designed by David Barnard Steinman, opened in New York City. In 1955, the U.S. Air Force Academy officially opened at temporary quarters at Lowry Air Force Base in Denver, Colorado. In 1960, author Harper Lee’s novel “To Kill a Mockingbird,” was published. In 1989, actor Laurence Olivier died near London at age 82. In 2007, first lady from 1963 to 1969 and environmentalist Lady Bird Johnson—married to Lyndon B. Johnson, 36th president of the United States—died at age 94 in Karnack, Texas. In 2015, Mexican criminal Joaquín Guzmán, head of the Sinaloa drug cartel, escaped from prison, using a lengthy underground tunnel; a massive manhunt followed and he was captured again some six months later. 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