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PLANSPONSOR NEWSDASH LOGO March 1st, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
CARES Act Considerations: CRDs, RMDs, Taxes and More
CARES Act Considerations: CRDs, RMDs, Taxes and More
Between retirement reforms first created by the SECURE Act and then updated by the CARES Act, there is a lot of confusion about required minimum distribution deadlines and the tax treatment of coronavirus-related hardship withdrawals.
Administration
Differences Between NQDC Plans Subject to IRC 409A and 457
The nonqualified plans offered to top executives at for-profit companies are subject to different rules than those offered to executives at nonprofits.
Most Read
1
2021 Recordkeeping Survey
2
DOL Clears Up Timing for Lifetime Income Illustrations
3
2020 Recordkeeping Survey
4
The Allure of PEPs for Current Plan Sponsors
5
Giving Employees the Financial Wellness Help They Want
SPONSORED BY: Edelman Financial Engines
1 in 3 employees would run out of emergency savings in 1 month or less
Many employees lack the emergency savings necessary to be truly prepared when the unexpected arrives. There’s more you can do to help. Read Edelman Financial Engines’ latest research.
Economic Events
Today, the Census Bureau will report about construction spending in January. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about factory orders for January. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for February.
Market Mirror
Friday, the Dow fell 469.64 points (1.50%) to 30,932.37, the Nasdaq gained 72.91 points (0.56%) to finish at 13,192.34, and the S&P 500 closed 18.19 points (0.48%) lower at 3,811.15. The Russell 2000 was virtually unchanged at 2,201.05, and the Wilshire 5000 decreased 120.72 points (0.30%) to 40,508.68.

The price of the 10-year Treasury note increased 31/32, bringing its yield down to 1.420%. The price of the 30-year Treasury bond climbed 3 27/32, decreasing its yield to 2.136%.

For the week ending February 26, the Dow was down 1.78%, the Nasdaq fell 4.92%, and the S&P 500 decreased 2.45%. The Russell 2000 finished 2.90% lower, and the Wilshire 5000 lost 2.97%.
Compliance
Self-Dealing ERISA Suit Targets Principal Insurance Co.
The lawsuit suggests the defendants chose and maintained Principal investment products and plan administration services because Principal, its subsidiaries and its officers benefited financially from the fees.
Opinions
Considering Say-on-Pay Proposals for NQDC Plan Designs
It’s worth examining how shareholders might view the compensation executives receive through NQDC plan designs.
Deals and People
Retirement Industry People Moves
Private equity firms acquire Wells Fargo Asset Management, while T. Rowe Price Retirement Plan Services makes key hires.
Small Talk
ON THIS DATE: In 1692, in Salem Village in the Massachusetts Bay Colony, Sarah Goode, Sarah Osborne and Tituba, an enslaved woman from the Barbados, were charged with the illegal practice of witchcraft. Later that day, Tituba, possibly under coercion, confessed to the crime, encouraging the authorities to seek out more Salem witches. In 1781, the Continental Congress adopted the Articles of Confederation. In 1790, Congress authorized the first U.S. census. In 1803, Ohio became the 17th U.S. state. In 1867, Nebraska became the 37th U.S. state. In 1872, President Ulysses S. Grant signed the bill creating the nation’s first national park at Yellowstone. In 1932, in a crime that captured the attention of the entire nation, Charles Lindbergh, Jr., the 20-month-old son of aviation hero Charles Lindbergh, was kidnapped from the family’s mansion in Hopewell, New Jersey. In 1937, in Connecticut, the first permanent automobile license plates were issued. In 1954, the United States announced that it had conducted a hydrogen bomb test on the Bikini Atoll in the Pacific Ocean. In 1961, President John F. Kennedy issued Executive Order #10924, establishing the Peace Corps as a new agency within the Department of State. In 1969, New York Yankees center fielder Mickey Mantle announced his retirement from baseball. In 1971, a bomb exploded in the Capitol building in Washington, D.C., causing an estimated $300,000 in damage but hurting no one. A U.S. group protesting the Vietnam War claimed responsibility. In 1995, Yahoo! was incorporated. In 2003, approximately 180,000 personnel from 22 different organizations around the government became part of the Department of Homeland Security. This completed the largest government reorganization since the beginning of the Cold War.
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