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PLANSPONSOR NEWSDASH LOGO June 23rd, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
PSNC 2021: Fiduciary Mistakes to Avoid
PSNC 2021: Fiduciary Mistakes to Avoid
ERISA attorneys advised plan sponsors to shore up their cybersecurity efforts and continue regular benchmarking work.
Ask the Experts
Is Past Service Counted for Eligibility for Previous Student Employees?
“Would service performed as an employee that could be statutorily ineligible count for eligibility and/or vesting purposes under the plan? For example, in our 403(b) plan, under the universal availability rules, we exclude students performing services described in Code section 3121(b)(10), since we have university students performing services for our university. Does that service count for eligibility and vesting purposes if we later hire such students as retirement plan eligible employees, assuming break-in-service rules wouldn’t wipe it out?”
Most Read
Research
2021 Recordkeeping Survey
Compliance
DOL Clears Up Timing for Lifetime Income Illustrations
Administration
Addressing Forgotten Accounts Can Improve Retirement Savings Outcomes
SPONSORED BY: Invesco
Watch Your Language: Rethinking How We Communicate With Participants
Learn more from our three key insights on how to communicate with participants.
Economic Events
Existing-home sales decreased for a fourth straight month in May, according to the National Association of Realtors. Only one major U.S. region recorded a month-over-month increase, while the other three regions saw sales decline. However, each of the four areas again registered double-digit year-over-year gains. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, dropped 0.9% from April to a seasonally adjusted annual rate of 5.80 million in May. Sales in total climbed year-over-year, up 44.6% from a year ago (4.01 million in May 2020).
Market Mirror
Tuesday, the Dow was up 68.61 points (0.20%) at 33,945.58, the Nasdaq climbed 111.79 points (0.79%) to 14,253.27, and the S&P 500 increased 21.65 points (0.51%) to 4,246.44. The Russell 2000 closed 9.85 points (0.43%) higher at 2,295.95, and the Wilshire 5000 gained 236.23 points (0.53%) to 44,595.44.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.467%. The price of the 30-year Treasury bond increased 28/32, bringing its yield down to 2.089%.
Compliance
PSNC 2021: Washington Update: Your Regulatory and Legislative Questions Answered
Leading ERISA attorneys and retirement plan policy experts discuss what regulations need to be addressed in 2021. 
Investing
Company Stock Down, But Not Out
The lion’s share of DC assets are in TDFs via QDIAs—but HR execs still view company stock as valuable for executives and rank-and-file workers.
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 2005, 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. In 2015, Verizon announced it had completed its $4.4 billion purchase of AOL, Inc.
WEDNESDAY WISDOM: “I hear, I know. I see, I remember. I do, I understand.”—Confucius, Chinese philosopher
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.
SPONSORED BY: Invesco
Get Rid of All the Jargon
Learn how to speak to DC retirement plan participants on their own terms, and how better communications could boost participation.
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