June 11th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Events A Notice About Our Fall/Winter Conferences It’s difficult to plan for the second half of the year, considering that so much is unknown, but we do know how important it is to gather with and learn from your peers and industry experts. However, we realize you have concerns about travel to, and attendance at, in-person events; we have them too. Administration Corporate Pensions See Slight Funded Status Boost in May Markets are rebounding, but discount rates used to measure liabilities are falling, and pension consultants wonder if pending legislation will provide funding relief for plan sponsors. Most Read 2020 Defined Benefit Administration Survey Ask the Experts Clarification of Loan Repayment Delay Provisions of CARES Act Compliance Use of Fidelity Active Management Funds Questioned in Court Economic Events In May, the Consumer Price Index for All Urban Consumers (CPI-U) fell 0.1% on a seasonally adjusted (SA) basis; rising 0.1% 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 fell 0.1% in May, SA; up 1.2% over the year, NSA. Real average hourly earnings decreased 0.9% over the month in May, SA. Average hourly earnings decreased 1.0% and CPI-U decreased 0.1%. Real average weekly earnings increased 0.5% over the month. Market Mirror Wednesday, the Dow closed 282.31 points (1.04%) lower at 26,989.99, the NASDAQ increased 66.59 points (0.67%) to 10,020.35, and the S&P 500 was down 17.04 points (0.53%) at 3,190.14. The Russell 2000 lost 39.66 points (2.63%) to finish at 1,467.39, and the Wilshire 5000 decreased to 32,465.88. The price of the 10-year Treasury note was up 9/32, decreasing its yield to 0.735%. The price of the 30-year Treasury bond increased 1 6/32, bringing its yield down to 1.511%. Compliance Fidelity Self-Dealing Case to Go to Trial on Zoom In a letter filed in court, attorneys for the parties suggested ways to help streamline the trial and to eliminate all or significant parts of the testimony of several witnesses. Universal Health Faces Familiar ERISA Excessive Fee Claims Among other alleged fiduciary violations, the defendants are accused of failing to consider lower cost collective trusts as alternatives to certain mutual funds in the plan. Products BGC Introduces Interactive Retirement Income Calculator MyRetirement illustrates retirement plan participants’ spending levels in retirement so they can make informed decisions. Small Talk ON THIS DATE: In 1770, Captain James Cook discovered the Great Barrier Reef off of Australia when he ran aground. In 1895, Charles E. Duryea received the first U.S. patent granted to an American inventor for a gasoline-driven automobile. In 1936, the Presbyterian Church of America was formed in Philadelphia. In 1963, facing federalized Alabama National Guard troops, Alabama Governor George Wallace ended his blockade of the University of Alabama in Tuscaloosa and allowed two African American students to enroll. In 1972, Hank Aaron tied the National League record for 14 grand-slam home runs in a career. In 1979, John Wayne, American film actor famous for starring in countless westerns, died at age 72. In 1990, the U.S. Supreme Court struck down a law that would prohibit the desecration of the American flag. No SURVEY SAYS this week. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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