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PLANSPONSOR NEWSDASH LOGO July 19th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
CalSavers Tops 100,000 Enrolled Employers in Its Auto-IRA
CalSavers Tops 100,000 Enrolled Employers in Its Auto-IRA
As the California program’s enrollment climbs, private plans are also flourishing.
Data and Research
Employees Want More Help With Retirement From Employers, WTW Survey Says
Nearly three-quarters of employees with an employer-sponsored DC plan rely on it as their primary retirement savings vehicle.
Most Read
Compliance
More TDF Underperformance Lawsuits Emerge Across US
Data and Research
Plan Sponsors and Participants Cite Different ‘Important’ Benefits
Compliance
Managed Account Fees Challenged in Latest ERISA Lawsuit
MARKET MIRROR
Monday, the Dow sagged 215.65 points (0.69%) to 31,072.61, the Nasdaq lost 92.37 points (0.81%) to close at 11,360.05 and the S&P 500 slipped 32.31 points (0.84%) to 3,830.85. The Russell 2000 lost 5.96 points (0.34%) to 1,738.42 and the Wilshire 5000 dropped 264.95 points (0.69%) to 38,146.36.

The price of the 10-year Treasury note decreased 5/32, bringing its yield up to 2.981%. The price of the 30-year Treasury bond decreased 1 5/32, bringing its yield up to 3.159%.
Compliance
Dismissal Motions Rejected in UMMS ERISA Lawsuit
The defendants contest their process ensures that any fees paid by participants are reasonable and all services and investment offerings are in the best interests of the participants.
Tough Questions About Social Security’s Solvency
Solvency issues tend to be much less of a concern for people already living in retirement than they are for people who are on the cusp of retirement today.
Data and Research
401(k) Participation is High, But Few Contribute Up To IRS Limit
Gen Z women surpass the men in accumulated retirement savings with higher account balances on average, says a new report.
EVENTS
Webinar: Elements to Help Participants Prepare for Retirement
Join PLANSPONSOR and a panel of experts for the July installment of the Plan Progress webinar series during which the elements to help participants prepare for retirement will be discussed.
SMALLL TALK
ON THIS DATE: In 1779, Massachusetts, without consulting Continental political or military authorities, launched a 4,000-man naval expedition commanded by Commodore Dudley Saltonstall, Adjutant General Peleg Wadsworth, Brigadier General Solomon Lovell and Lieutenant Colonel Paul Revere. The expedition consisted of 19 warships, 24 transport ships and more than 1,000 militiamen. Their objective was to capture a 750-man British garrison at Castine on the Penobscot Peninsula, in what would later become Maine. In 1799, the Rosetta Stone, a tablet with hieroglyphic translations into Greek, was found in Egypt. In 1848, at the Wesleyan Chapel in Seneca Falls, New York, a women’s rights convention—the first ever held in the United States—convened with almost 200 women in attendance. In 1860, Lizzie Borden—who was suspected of murdering her stepmother and father but was acquitted in a trial that became a national sensation in the U.S.—was born in Fall River, Massachusetts. In 1870, the French emperor Napoleon III declared war on Prussia, beginning the Franco-German War. In 1903, French bicyclist Maurice Garin won the first Tour de France. In 1909, the first unassisted triple play in Major League Baseball was made by Cleveland Indians shortstop Neal Ball in a game against Boston. In 1943, during World War II, more than 150 B-17 and 112 B-24 bombers attacked Rome for the first time. In 1974, the House Judiciary Committee recommended that U.S. President Richard Nixon should stand trial in the Senate for any of the five impeachment charges against him. In 2007, the first episode of “Mad Men” aired on AMC.
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