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Insight on Plan Design & Investment Strategy Every Weekday
Deals and People
Retirement Plan Providers Amplifying Diversity and Inclusion Efforts
Retirement Plan Providers Amplifying Diversity and Inclusion Efforts
Concrete steps providers are taking to increase equity within the workforce are examples plan sponsors can follow.
Data and Research
Study Suggests Private Equity Doesn’t Outperform Stock Indices
The release of the study comes after the DOL issued an Information Letter sanctioning the use of private equity in asset allocation funds in DC plans.
Most Read
Federal Student Loan Forbearance Is Ending, but Many Employees Aren’t Prepared
Ask the Experts
Satisfying Electronic Disclosure Requirements for SPDs to New Hires
2021 Recordkeeping Survey
Deals and People
Retirement Industry People Moves
Wagner Law Group appoints ERISA attorney to ‘of counsel’; Financial Fitness promotes former executive VP; ProManage adds senior VP and consultant; and more.
Economic Events
Today, the National Association of Realtors will report about existing home sales in May. Tomorrow, the Census Bureau will report about new home sales in May. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders in May.
Market Mirror
Friday, the Dow lost 208.64 points (0.80%) to finish at 25,871.46, the NASDAQ was up 3.07 points (0.03%) at 9,946.12, and the S&P 500 decreased 17.60 points (0.56%) to 3,097.74. The Russell 2000 was down 8.44 points (0.59%) at 1,418.63, and the Wilshire 5000 closed 159.06 points (0.50%) lower at 31,613.46.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 0.698%. The price of the 30-year Treasury bond increased 6/32, bringing its yield down to 1.460%.

For the week ending June 19, the Dow was up 1.04%, the NASDAQ climbed 3.73%, and the S&P 500 increased 1.86%. The Russell 2000 gained 2.23%, and the Wilshire 5000 finished 2.15% higher.
Retirement Plan Sued Over Special Valuation After March Market Crash
The plaintiffs in the lawsuit were waiting on distributions of their account valued at the end of last year when plan fiduciaries ordered a special valuation due to the coronavirus.
IRS Makes More People Eligible for CARES Act Distributions and Loans
Notice 2020-50 expands the definition of who is a qualified individual to take into account additional factors such as reductions in pay, rescissions of job offers and delayed job start dates.
Second Court Finds Use of Segal Blend Was Improper
A pension fund challenged the use of the Segal Blend to assess its withdrawal liability from a multiemployer plan instead of the interest rate it used to determine funding levels.
Small Talk
ON THIS DATE: In 1868, Arkansas was re-admitted to the Union. In 1870, Congress created the Department of Justice. In 1944, President Franklin D. Roosevelt signed the G.I. Bill, an act of legislation designed to compensate returning members of the armed services for their efforts in World War II. In 1945, the U.S. 10th Army overcame the last major pockets of Japanese resistance on Okinawa Island, ending one of the bloodiest battles of World War II. In 1970, President Richard Nixon signed an extension of the Voting Rights Act of 1965. Among other things, it made 18 the voting age in the United States. In 1974, in Chicago, the Sears Tower (now Willis Tower) Skydeck opened. In 1990, Checkpoint Charlie was dismantled in Berlin.
SURVEY SAYS RESPONSES: Last week, I asked NEWSDash readers, “Are your personality traits more like your mom’s or your dad’s?” Half of responding readers said their personality traits are more like their dad’s, and 40% said their personality traits are more like their mom’s. Readers also shared words of wisdom their parents gave them in the past or are giving now that help them get through current events. Responding readers who left other comments elaborated on how they are like their mom or dad and/or discussed their parents’ personalities. Some left touching statements. No Editor’s Choice this week, but thanks to the reader who taught me the word “garrulous.” A big thank you to all who participated in the survey!
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