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PLANSPONSOR NEWSDASH LOGO June 23rd, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Clearing Up Confusion About Retirement Timing
Clearing Up Confusion About Retirement Timing
The pandemic may put a wrench in some participants’ plans to retire, but others may be more prepared than they think. How can plan sponsors help them decide?
Data and Research
Study Suggests Recordkeepers Not Helping Guide Participants
Nearly three in 10 participants surveyed were either unaware of whether help was available or perceived that it was not, but providers say the resources are there.
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
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Economic Events
Though existing-home sales dropped 9.7% month over month in May—the third consecutive month of declines—the downward trend is likely to soon reverse, according to the National Association of Realtors. “Although the real estate industry faced some very challenging circumstances over the last several months, we’re seeing signs of improvement and growth, and I’m hopeful the worst is behind us,” says NAR President Vince Malta. Ongoing complications due to the coronavirus pandemic led total existing-home sales—which include completed transactions for single-family homes, townhouse, condos, and co-ops—to fall a whopping 26.6% from a year ago, with all four major regions of the U.S. seeing sales dips. But NAR Chief Economist Lawrence Yun says May’s figures reflect March and April sales contracts “during the strictest times of the pandemic lockdown. Home sales will surely rise in the upcoming months with the economy reopening and could even surpass annual figures in the second half of the year.”
Market Mirror
Monday, the Dow gained 153.50 points (0.59%) to finish at 26,024.96, the NASDAQ closed 110.35 points (1.11%) higher at 10,056.48, and the S&P 500 increased 20.12 points (0.65%) to 3,117.86. The Russell 2000 was up 6.42 points (0.45%) at 1,433.50, and the Wilshire 5000 climbed 209.39 points (0.66%) to 31,821.44.

The prices of the 10-year Treasury note and 30-year Treasury bond each were down 1/32, increasing their yields to 0.708% and 1.465%, respectively.
Opinions
COVID-19 Compliance Corner: IRS Eases Spousal Consent Rules for 2020
Each week, Carol Buckmann, with Cohen & Buckmann P.C., will explain legislative provisions or official guidance related to the COVID-19 pandemic that affect retirement and health plan sponsors.
Investing
Do Standard Glide Path Illustrations Obscure Key Information?
The minimum and maximum fixed-income allocations of 2050 target-date funds range between 1.5% and 19.9%, respectively, according to MFS.
Products
TIAA Offers Nonprofits a Student Debt Relief Program for Employees
Together with Savi, TIAA has launched a program that helps employees reduce their monthly payments and qualify over time for the federal Public Service Loan Forgiveness (PSLF) program.
Small Talk
ON THIS DATE: In 1868, Christopher Latham Sholes received a patent for an invention that he called a “Type-Writer.” In 1947, the Senate joined the House in overriding President Harry Truman’s veto of the Taft-Hartley Act. In 1972, Title IX of the education amendments of 1972 was enacted into law. Title IX prohibits federally funded educational institutions from discriminating against students or employees based on gender. In 1992, Mafia boss John Gotti, who was nicknamed the “Teflon Don” after escaping unscathed from several trials during the 1980s, was sentenced to life in prison after being found guilty on 14 accounts of conspiracy to commit murder and racketeering. In 2005, film critic Roger Ebert received a star on the Hollywood Walk of Fame. In 2013, 34-year-old aerialist Nik Wallenda became the first person to walk a high wire across the Little Colorado River Gorge near Grand Canyon National Park in Arizona.
TRIVIAL PURSUITS: From Where Did the Term ‘Caucasian’ Come?
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