June 23rd, 2022 Insight on Plan Design & Investment Strategy Every Weekday Compliance SEC’s Proposed Climate Regulation Draws Support and Criticism Investment consultants' sustainability group and others are supportive, while financial services firms and asset managers raise objections. Compliance EARN Act Clears Senate Finance Committee For the second time in a little more than a week, a key Senate committee has advanced an important piece of retirement plan reform legislation for a vote by the full chamber. Most Read Deals and People LPL Terminates CEO Dan Arnold Administration IRS Provides Tax Relief for Those Impacted by Hurricane Helene Benefits Implementing Retirement Income Strategies MARKET MIRROR Wednesday, the Dow lost 47.12 points (0.15%) to 30,483.13, the Nasdaq was down 16.22 points (0.15%) to close at 11,053.08, and the S&P 500 decreased 4.90 points (0.13%) to 3,759.89. The Russell 2000 lost 3.75 points (0.22%), and the Wilshire 5000 fell 61.60 points (0.16%) to 37,325.59. The price of the 10-year Treasury note increased 1 1/32 bringing the yield down to 3.157%. The price of the 30-year Treasury bond increased 1 7/32 lowering its yield down to 3.244%. INVESTING Retirement Plan Participants Need Help With Retirement Income From in-plan to out-of-plan, guaranteed or not, retirement plan sponsors have many options and many decisions to make. UpFront A Bad Rap Undeserved In certain instances, revenue sharing can lower costs for retirement plan participants. Compliance Plaintiffs Rebuffed by Appeals Court in Active Management Lawsuit The defendant in the case, CommonSpirit Health, was accused of committing fiduciary breaches in the provision of an active target-date fund suit—allegations rejected both in district court and on appeal. 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 U.S. Senate joined the House in overriding President Truman’s veto of the Taft-Hartley Act. In 1972, Title IX of the education amendments of 1972 was enacted. Title IX prohibited federally funded educational institutions from discriminating against students or employees based on sex. It reads: “No person in the United States shall, on the basis of sex, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any education program or activity receiving Federal financial assistance.” 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 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. In 2018, a Thai soccer team became trapped in a cave after Ekkapol Chantawong, a 25-year-old Thai youth soccer coach, took his team, the Wild Boars, to explore a cave he’d visited before, intending to stay just about an hour. Monsoon rains poured while they were underground and the cave’s entrance flooded, and the coach and his 12 players, ages 11-16, became trapped. The team was rescued but remained stuck underground for more than two weeks. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850