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June 15th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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Investing
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PSNC 2022: Decumulation Designs
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One reason lifetime income options are important for plan sponsors to explore is that many individuals underestimate how long they will live in retirement. 
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| ECONOMIC EVENTS |
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The Producer Price Index for final demand increased 0.8% in May. Prices for final demand goods advanced 1.4%, and the index for final demand services rose 0.4%. Final demand prices moved up 10.8% for the 12 months ended in May.
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| MARKET MIRROR |
Tuesday, the Dow dropped 151.91 points (0.50%) to 30,364.83, the Nasdaq was up 19.12 points (0.18%) to close at 10,828.35, and the S&P 500 fell 14.15 points (0.38%) to 3,735.48. The Russell 2000 slipped 6.77 points (0.39%) to 1,707.83, and the Wilshire 5000 lost 119.99 points (0.32%) to 37,116.66.
The price of the 10-year Treasury note fell 31/32 bringing its yield up to 3.479%. The price of the 30-year Treasury bond decreased 1 25/32 bringing its yield up to 3.427%.
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PSNC 2022: Washington Update
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From shifting compliance deadlines to growing debate on ambitious retirement reform legislation, there is a lot happening in the nation’s capital for retirement plan fiduciaries to be aware of.
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ASK THE EXPERTS
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How does the Internal Revenue Code Apply to a 457(b) Plan?
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“We are a private university that recently started a 457(b) plan. Our recordkeeper has informed us of an Internal Revenue Code section 4968 excise tax that would apply to our plan. Is this correct, and can the experts provide any details?”
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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 1844, Charles Goodyear was granted a patent for the process that strengthens rubber. In 1846, the U.S.-Canadian border was established after representatives of Great Britain and the United States signed the Oregon Treaty and established the 49th parallel from the Rocky Mountains to the Strait of Georgia as the boundary between the United States and British Canada. In 1864, an order that established 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 Ossian Flipper, who was born into slavery in Thomasville, Georgia in 1856, became the first African American cadet to graduate from the United States Military Academy at West Point, New York. In 1898, the U.S. House of Representatives approved the annexation of Hawaii. In 1904, more than 1,000 people who were on a pleasure trip on New York City’s East River were killed in a fire that swept through the boat in one of the United States’ worst maritime disasters. In 1911, The Computing-Tabulating-Recording Co. was incorporated in the state of New York. The company was later renamed International Business Machines Corp. In 1938, Johnny Vandemeer, a pitcher for the Cincinnati Reds, pitched his second straight no-hitter. In 1994, Israel and the Vatican established full diplomatic relations.
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| Industry Intel Roundup—Featured White Paper | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring white papers offering key insights and analysis about the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. | | | | | | |
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