July 28th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Different Views About Retirement Plans Shaped COVID-19 Responses Globally The U.S. can learn from other countries about instilling the mindset of preserving retirement savings and creating different pools of assets to be dipped into in case of emergency. Opinions COVID-19 Compliance Corner: Impact on Defined Benefit Plans Each week, Carol Buckmann, with Cohen & Buckmann P.C., will explain legislative provisions or official guidance related to the COVID-19 pandemic that affect retirement and health plan sponsors. Most Read Benefits Phased Retirement Programs Offer Perks for Employees and Employers 2020 Recordkeeping Survey Compliance VALIC Financial Advisors Charged With Disclosure Failures SPONSORED BY: PLANSPONSOR Don’t just follow the herd, stay ahead of it with PLANSPONSOR Industry Intelligence. Learn more. Economic Events New orders for manufactured durable goods in June increased $14.0 billion or 7.3% to $206.9 billion, the U.S. Census Bureau announced. This increase, up two consecutive months, followed a 15.1% May increase. Excluding transportation, new orders increased 3.3%. Excluding defense, new orders increased 9.2%. Transportation equipment, also up two consecutive months, led the increase, $9.2 billion or 20.0% to $55.3 billion. Market Mirror Yesterday, the Dow was up 114.88 points (0.43%) at 26,584.77, the NASDAQ climbed 173.09 points (1.67%) to 10,536.27, and the S&P 500 increased 23.78 points (0.74%) to 3,239.41. The Russell 2000 gained 17.10 points (1.16%) to finish at 1,484.65, and the Wilshire 5000 closed 283.10 points (0.86%) higher at 33,086.38. The price of the 10-year Treasury note was down 2/32, increasing its yield to 0.607%. The price of the 30-year Treasury bond decreased 27/32, bringing its yield up to 1.254%. Compliance Digital Ruling in John Hancock ERISA Suit Reflects the Times A judge has denied John Hancock’s motion to dismiss the self-dealing lawsuit but did not submit a written order. Benefits Social Security Burdens Fall on Younger Workers As unemployment rises and employees retire sooner, experts say Social Security will be exhausted faster than predicted. Products Transamerica Expands Benefits Offering With Health Savings, Spending Accounts The offerings include an HSA, HRA and FSA. Small Talk ON THIS DATE: In 1868, following its ratification by the necessary three-quarters of U.S. states, the 14th Amendment, granting citizenship to all persons born or naturalized in the United States—including formerly enslaved people—was officially adopted into the U.S. Constitution. In 1914, World War I officially began when Austria-Hungary declared war on Serbia. In 1945, a United States military plane crashed into the Empire State Building, killing 14 people. The freak accident was caused by heavy fog. In 1951, the Walt Disney film “Alice in Wonderland” was released. In 1998, Bell Atlantic and GTE announced $52 billion deal that created the second-largest phone company. TUESDAY TRIVIA: The World Wildlife Fund says that by 2025, two-thirds of the world’s population may be facing water shortages. Many people do not realize how much water it takes to get the food they commonly eat. For example, how much water does it take to make a hamburger? Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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