July 3rd, 2025 Insight on Plan Design & Investment Strategy Every Weekday Administration SECURE 2.0 Delivers a Mixed Bag to the 403(b) Arena More than two years after passage of the SECURE 2.0 Act of 2022, advisers are beginning to see the effects of key provisions on their 403(b) clients. Compliance Pentegra to Pay $48.5M Settlement in Fiduciary Breach Case The parties agreed to a settlement higher than the $38.8 million that was included in a prior deal in April, in a case that alleged the company charged unreasonable fees and engaged in prohibited transactions.    Most Read 2026 PLANSPONSOR Best in Class DC Plan Provider Standouts Compliance What Does It Mean to Be a Fiduciary? Compliance How the 401(k) Alts Debate Raises Fiduciary Stakes MARKET MIRROR Wednesday the Dow fell 10.52 (0.02%) to close at 44,484.42, the Nasdaq rose 190.24 (0.94%) to close at 20,393.13 and the S&P 500 rose 29.41 points (0.47%) to close at 6,227.42. The Russell 2000 rose 28.84 (1.31%) to close at 2,226.38, and the FT Wilshire 5000 Index rose 343.41 (0.55%) to close at 62,255.65. The 10-year Treasury note fell 25/32, bringing the yield to 4.284%. The 30-year Treasury bond fell 7/32, bringing the yield to 4.811%. Compliance Supreme Court Asks for Solicitor General Input in Parker-Hannifin 401(k) Fees Case  The case, originally filed in 2021, alleges the company violated ERISA by retaining target-date funds that were high cost and underperformed their benchmarks.   Benefits Massachusetts Legislature Approves Auto-IRA Program Both houses of the legislature voted in favor of the FY 2026 budget bill, which includes the provision creating the Massachusetts Secure Choice program. Compliance Supreme Court to Hear Multiemployer Pension Plan Withdrawal Liabilities Case  Justices will decide how much flexibility actuaries have when calculating how much companies must pay when withdrawing from a multiemployer plan.  SMALL TALK ON THIS DATE: In 1856, the U.S. House of Representatives voted to admit Kansas to statehood under the antislavery resolution known as the Topeka Constitution, despite the opposition of the Senate and President Franklin Pierce. Kansas ultimately gained statehood in 1861. In 1863, following three days of intense fighting—casualties numbered more than 50,000—the Battle of Gettysburg ended with a victory for the Union forces and was seen as a turning point in the American Civil War. In 1962, actor Tom Cruise—known as one of Hollywood’s most popular leading men—was born.  In 1969, just weeks after being fired from the rock band the Rolling Stones, British musician Brian Jones was found dead in his swimming pool. In 1971, singer and songwriter Jim Morrison, who was a member of the psychedelic rock group the Doors, died at age 27 in Paris; the official cause of death was heart failure. In 1976, an Israeli commando squad, led by Dan Shomron, launched a rescue of hostages held by airplane hijackers in Entebbe, Uganda. In 1985, the comedy “Back to the Future,” directed by Robert Zemeckis and starring Michael J. Fox as Marty McFly, was released in American theaters. In 2013, following massive demonstrations against his rule, Egyptian President Mohamed Morsi was removed from office by a military action. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2026 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