June 15th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Compliance DOL Position on ESG Investing May Soon Shift (Again) A forthcoming proposed regulation from the DOL is expected to address the topic of environmental, social and governance (ESG) themed investing in the context of tax-qualified retirement plans. Opinions DB Plan Sponsors Should Be Conscious of Liquidity Tom Cassara and Michael Clark, with River and Mercantile, discuss why pension plan sponsors should pay attention to liquidity and how they may do so. Most Read 1 New Financial Audit Rule Increases Requirements for Plan Sponsors 2 2021 Recordkeeping Survey 3 TRIVIAL PURSUITS: What do the M’s stand for in M&Ms? 4 Participants Missing the Full Match Remains a Big Problem 5 TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?” Economic Events Tomorrow, the Census Bureau will report about retail sales for May and business trade for April. Thursday, the Labor Department will issue its initial claims report. Market Mirror Friday, the Dow climbed 477.37 points (1.90%) to 25,605.54, the NASDAQ increased 96.08 points (1.01%) to 9,588.81, and the S&P 500 was up 39.21 points (1.31%) at 3,041.31. The Russell 2000 closed 31/46 points (2.32%) higher at 1,387.68, and the Wilshire 5000 gained 415.00 points (1.36%) to finish at 30,947.19. The price of the 10-year Treasury note was down 3/32, increasing its yield to 0.704%. The price of the 30-year Treasury bond fell 1 25/32, bringing its yield up to 1.458%. For the week ending June 12, the Dow lost 5.55%, the NASDAQ was down 2.30%, and the S&P 500 decreased 4.78%. The Russell 2000 fell 7.93%, and the Wilshire 5000 finished 4.85% lower. Data and Research Investors Saved Nearly $6 Billion in Fund Fees in 2019 The average expense ratio decreased to 0.45% from 0.48% the year before, according to Morningstar. Deals and People Retirement Industry People Moves Sikich adds senior specialist to retirement plan services team; DWS announces changes to global business side; Penchecks elects new CEO; and more. Small Talk ON THIS DATE: In 1775, George Washington was appointed head of the Continental Army by the Second Continental Congress. In 1836, Arkansas became the 25th U.S. state. In 1864, an order to establish a military burial ground was signed by Secretary of War Edwin M. Stanton. The location later became known as Arlington National Cemetery. In 1877, Henry O. Flipper became the first African American to graduate from the U.S. Military Academy at West Point. In 1898, the House of Representatives approved the annexation of Hawaii. In 1911, the Computing-Tabulating-Recording Co. was incorporated in the state of New York. The company was later renamed International Business Machines (IBM) Corp. In 1924, J. Edgar Hoover assumed leadership of the FBI. In 1934, the Great Smokey Mountains National Park was dedicated. In 1982, the Supreme Court ruled all children, regardless of citizenship, are entitled to a public education. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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