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June 7th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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Compliance
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Outdated Mortality Tables Contested in IBM Lawsuit
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Plaintiffs say their employer is knowingly using outdated mortality tables and inflated interest rate assumptions that undervalue certain annuity benefits relative to the pension plan’s standard option. 
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| MARKET MIRROR |
Monday, the Dow increased 16.08 points (0.05%) to close at 32,915.78, the Nasdaq gained 48.64 points (0.40%) to 12,061.37, and the S&P 500 gained 12.89 points (0.31%) to 4,121.43. The Russell 2000 lifted 6.83 points (0.36%), and the Wilshire 5000 climbed 127.99 points (0.31%) to 41,073.38.
The price of the 10-year Treasury note decreased 30/32 bringing its yield up to 3.037%. The price of the 30-year Treasury bond decreased 1 31/32 increasing its yield to 3.194%.
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PLAN DESIGN | LEAKAGE
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Leakproof Your Plan
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How to stop participants from draining their retirement savings.
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ON THIS DATE: In 1775, Richard Henry Lee of Virginia introduced a resolution for independence to the Continental Congress in Philadelphia; John Adams seconded the motion. In 1863, Mexico City was captured by French troops. In 1892, J.F. Palmer patented the cord bicycle tire. In 1903, French physicist Pierre Curie revealed the discovery of Polonium. In 1913, Hudson Stuck, an Alaskan missionary, led the first successful ascent of Denali—formerly known as Mt. McKinley—the highest point on the American continent at 20,320 feet. In 1929, the sovereign state of Vatican City came into existence as copies of the Lateran Treaty were exchanged in Rome. In 1937, Hollywood was shocked by the sudden and tragic death of actress Jean Harlow, who succumbed to uremic poisoning—acute kidney failure—at age 26. In 1962, the banking institution Credit Suisse opened the first drive-through bank in Switzerland in downtown Zurich. In 1979, Texas passed a bill to become the first U.S. state to make Juneteenth an official state holiday. In 2000, a federal judge ordered the breakup of Microsoft Corporation.
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