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PLANSPONSOR NEWSDASH LOGO June 29th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
UpFront
Company Stock a Different Animal in a Downturn
Company Stock a Different Animal in a Downturn
In times of market volatility, plans heavily invested in company stock may need to take special actions.
PLANSPONSOR Plan Progress Webinar
The Road Ahead for Plan Sponsors
To get their plans and participants moving forward again, sponsors can perform several steps that examine multiple areas of plan management. Join PLANSPONSOR, industry experts and a plan sponsor to review what plan sponsors should evaluate once their operations start ramping up again.
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
Economic Events
Tomorrow, the Conference Board will release its Consumer Confidence Index for June. Wednesday, the Census Bureau will report about construction spending for May. Thursday, the Labor Department will issue its initial claims report, the Bureau of Labor Statistics will reveal the unemployment rate for June, and the Census Bureau will report about factory orders for May.
Market Mirror
Friday, the Dow plunged 730.05 points (2.84%) to 25,015.55, the NASDAQ dropped 259.78 points (2.59%) to 9,757.22, and the S&P 500 decreased 74.71 points (2.42%) to 3,009.05. The Russell 2000 closed 34.53 points (2.44%) lower at 1,378.78, and the Wilshire 5000 fell 770.52 points (2.45%) to 30,683.80.

The price of the 10-year Treasury note was up 4/32, decreasing its yield to 0.647%. The price of the 30-year Treasury bond increased 1 27/32, bringing its yield down to 1.373%.

For the week ending June 26, the Dow fell 3.31%, the NASDAQ was down 1.90%, and the S&P 500 finished 2.86% lower. The Russell 2000 decreased 2.81%, and the Wilshire 5000 lost 2.94%.
Compliance
Lawsuit Says Plan Fiduciaries Should Have Chosen Less Expensive CITs
Though the majority of investment options for Estee Lauder’s 401(k) are CITs, the lawsuit argues the TDFs are more expensive private label CITs.
UpFront
Remote Work Can Bring Cybersecurity Challenges
How to maintain safety when the workplace is your employees’ homes.
Deals and People
Retirement Industry People Moves
TRA acquires retirement plan administrator and Compass Advisors names retirement services director.
Small Talk
ON THIS DATE: In 1652, Massachusetts declared itself an independent commonwealth. In 1776, the Virginia constitution was adopted and Patrick Henry was made governor. In 1950, President Harry S. Truman authorized a sea blockade of Korea. In 1953, the Federal Highway Act authorized the construction of 42,500 miles of freeway from coast to coast. In 1972, in Furman v. Georgia, the U.S. Supreme Court ruled by a vote of 5-4 that capital punishment, as it was employed at the time on the state and federal level, was unconstitutional. However, because the Supreme Court suggested new legislation that could make death sentences constitutional again, it was not an outright victory for opponents of the death penalty. In 1995, the American space shuttle Atlantis docked with the Russian space station Mir to form the largest man-made satellite ever to orbit the Earth. In 2000, in Santa Rosa, California, the official groundbreaking ceremony took place for the Charles M. Schulz Museum. In 2011, the state of Nevada passed the first law that permitted the operation of autonomous cars on public roads. The law did not permit the use of the cars by the general public.
SURVEY SAYS RESPONSES: Last week, I asked NEWSDash readers, “Will there be fireworks where you live and will you attend the show?” I also asked, “Will you be traveling for the 4th of July holiday?” Most responding readers (56.7%) said there will be no fireworks display for the 4th of July where they live this year. Twenty percent indicated there will be and 23.3% said they don’t know. Where there will be a fireworks display, 86.4% reported they will not attend, while 9.1% said they will and 4.5% are unsure. Twenty percent of responding readers will be traveling for the 4th of July holiday this year, while 73.3% will not and 6.7% indicated they don’t know. Those who left comments generally expressed disappointment in having no fireworks display and/or not traveling this year. Some are fortunate enough to be able to see fireworks from their homes, and a couple are traveling, but to a place where social distancing will not be a problem. Editor’s Choice goes to the reader who simply expressed “:-(.”Thank you to all who participated in our survey.
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