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Changing Messages About Benefits
Changing Messages About Benefits
Plan sponsors can create new communications to engage participants with their retirement and health benefit plans that take into consideration special circumstances caused by the COVID-19 pandemic.
Deals and People
Vanguard Transfers Recordkeeping Operations to Infosys
Through a strategic partnership, Infosys and Vanguard will provide a cloud-based recordkeeping platform, with planned enhancements for plan sponsors and participants.
Most Read
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
Data and Research
Working Past Age 65 May Seem Like a Great Idea …
Employees Don’t Want ‘All or Nothing’ When It Comes to Guaranteed Lifetime Income
Economic Events
In June, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.6% on a seasonally adjusted (SA) basis; rising 0.6% over the last 12 months, not seasonally adjusted (NSA), according to the Bureau of Labor Statistics. The index for all items less food and energy rose 0.2% in June, SA; up 1.2% over the year, NSA.

Real average hourly earnings decreased 1.7% over the month in June, SA. Average hourly earnings decreased 1.2% and CPI-U increased 0.6%. Real average weekly earnings decreased 2.3% over the month.
Market Mirror
Tuesday, the Dow climbed 556.79 points (2.13%) to 26,642.59, the NASDAQ was up 97.73 points (0.94%) at 10,488.58, and the S&P 500 increased 42.30 points (1.34%) to 3,197.52. The Russell 2000 gained 24.69 points (1.76%) to finish at 1,428.26, and the Wilshire 5000 closed 424.73 points (1.32%) higher at 32,556.55.

The yield for the 10-year Treasury note was 0.623%, and the yield for the 30-year Treasury bond was 1.310%.
Ask the Experts
Can Other Distributions Be Treated as Coronavirus-Related Distributions?
“I read with great interest your Ask the Experts column on required minimum distributions that have already been distributed in 2020 prior to the release of the CARES Act. You stated that ‘presumably, these distributions could be treated as COVID-19 distributions for those who are individuals qualified to receive such distributions under the CARES Act.’ Since I then wondered whether ANY type of distribution could be treated as a COVID-19 distribution for those individuals qualified to receive such distributions, such as a refund of an excess deferrals.”
Alight to Offer Auto-Portability Solution to DC Plan Clients
Retirement Clearinghouse says it hopes other recordkeepers will adopt its product to help reduce the depletion of retirement savings from premature cash-outs.
Small Talk
ON THIS DATE: In 1806, Lieutenant Zebulon Pike began his western expedition from Fort Belle Fountaine, near St. Louis, Missouri. In 1885, in New York, the Niagara Reservation State Park opened. In 1965, the unmanned spacecraft Mariner 4 passed over Mars at an altitude of 6,000 feet and sent back to Earth the first close-up images of the red planet. In 2006, the San Francisco-based podcasting company Odeo officially released Twttr—later changed to Twitter—its short messaging service (SMS) for groups, to the public.
WEDNESDAY WISDOM: “Change your life today. Don’t gamble on the future, act now, without delay.”—Simone de Beauvoir, French writer
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