June 4th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Compliance DOL Sanctions Use of Private Equity in Asset Allocation Funds in DC Plans An Information Letter addresses concerns with offering private equity in DC plans with five paragraphs detailing considerations for plan fiduciaries in evaluating and monitoring the investments. Compliance IRS Allows for Remote Retirement Plan Participant Elections The temporary relief is for retirement plan participant elections required to be witnessed by a plan representative or a notary public, including a spousal consent. Most Read Administration IRS Updates Life Expectancy Tables for Retirees Compliance Recent TDF Performance Lawsuits Raise Insurer Ire Ask the Experts Should Each Recordkeeper Use Its Own Plan Document? Compliance 5th Circuit Affirms Lower Court’s Rejection of Phillips 66 ERISA Challenge Like the district court ruling in the case, the appeals court says the plaintiffs have failed to adequately state an actionable claim against the downstream oil and gas company. Economic Events New orders for manufactured durable goods in April decreased $35.4 billion or 17.2% to $170.0 billion, the U.S. Census Bureau announced. This decrease, down three of the last four months, followed a 16.6% March decrease. Excluding transportation, new orders decreased 7.4%. Excluding defense, new orders decreased 16.2%. Transportation equipment, also down three of the last four months, led the decrease, $23.9 billion or 47.3% to $26.6 billion. Market Mirror Wednesday, the Dow climbed 527.24 points (2.05%) to 26,269.89, the NASDAQ was up 74.54 points (0.78%) at 9,682.91, and the S&P 500 increased 42.05 points (1.36%) to 3,122.87. The Russell 2000 closed 33.88 points (2.39%) higher at 1,452.09, and the Wilshire 5000 gained 464.31 points (1.48%) to finish at 31,830.25. The price of the 10-year Treasury note decreased 28/32, bringing its yield up to 0.752%. The price of the 30-year Treasury bond fell 1 2/32, increasing its yield to 1.542%. Opinions Barry’s Pickings: Retirement Income Versus Retirement Risk—The Long-Term Care Crisis Michael Barry, president of O3 Plan Advisory Services LLC, discusses the risk of needing long-term care in retirement and whether there is a solution to prevent its potentially devastating effects. Products Club Vita Longevity Analytics Integrated With DB Plan Valuation Software The partnership enables WinTech’s users to seamlessly use Club Vita’s personalized suite of survival tables. Small Talk ON THIS DATE: In 1896, Henry Ford made a successful test drive of his new car in Detroit, Michigan. He called the vehicle a “Quadricycle.” In 1919, the 19th Amendment to the U.S. Constitution, guaranteeing American women the right to vote, was passed by Congress and sent to the states for ratification. In 1939, the first shopping cart was introduced by Sylvan Goldman in Oklahoma City, Oklahoma. It was a folding chair that had been mounted on wheels. In 1942, during World War II, the Battle of Midway began. In 1947, the House of Representatives approved the Taft-Hartley Act. In 1974, Sally Murphy became the first woman to qualify as an aviator with the U.S. Army. In 1989, Chinese troops stormed through Tiananmen Square in the center of Beijing, killing and arresting thousands of pro-democracy protesters. In 1998, George and Ira Gershwin received a star on the Hollywood Walk of Fame. SURVEY SAYS: A recent survey found employees are missing social connections with coworkers and say it is affecting company culture. This week, I’d like to know, are you maintaining social relationships with your coworkers? Has your company hosted any virtual social events? You may respond to this week’s survey by 6 p.m. Pacific time today. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise

©2022 Asset International Inc. All rights reserved. 702 King Farm Boulevard, Suite 400, Rockville, MD 20850