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PLANSPONSOR NEWSDASH LOGO March 10th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Deals and People
Aon and Willis Towers Watson to Combine
The new company, to be named Aon, will be a premier, technology-enabled global professional services firm focused on the areas of risk, retirement and health, the firms say.
UpFront
Advisers Need Benchmarking, Too
It may be time to confirm your plan is actually getting the services it needs.
Most Read
Compliance
Effect of the Biden Administration on Health and Retirement Benefits
Compliance
Judge Certifies Sizable Class in Lawsuit Over TIAA’s Retirement Plan Loan Program
Compliance
Cybersecurity Risks Still Lurking for Retirement Plan Sponsors
Market Mirror
Yesterday, the Dow plunged 2,013.76 points (7.79%) to 23,851.02, the NASDAQ fell 624.94 points (7.29%) to 7,950.68, and the S&P 500 lost 225.81 points (7.60%) to finish at 2,746.56. The Russell 2000 dropped 135.79 points (9.37%) to 1,313.43, and the Wilshire 5000 plummeted 2,383.12 points (7.90%) to 27,774.79.

The price of the 10-year Treasury note increased 2 1/32, bringing its yield down to 0.557%. The price of the 30-year Treasury bond climbed 7 32/32, decreasing its yield to 1.006%.
Compliance
GASB Proposes New Reporting Rules for 457 Plans
If a 457 plan meets the definition of pension plan in certain cases, all accounting and financial reporting requirements that are relevant to pension plans should be applied, the GASB says.
Teva Pharma Argues DC Plan Fiduciaries Acted Prudently
Defendants in an excessive fee case point to an appellate court decision that found "the fact that fiduciaries did not select the cheapest investment does not plausibly suggest a breach of fiduciary duties.”
Small Talk
Saturday, 3/14, is Pi Day because 3.14 is the number Pi at two decimal places. Some math types compete to see to how many decimal places they can memorize Pi. Pi’s decimal places go on to infinity. FinMason, an investor education firm based in Boston, Massachusetts, says if you know that Pi starts with 3.1415 and know three ages significant to retirement planning, you can memorize Pi out to 10 decimal places.
ON THIS DATE: In 1785, Thomas Jefferson was appointed minister to France. He succeeded Benjamin Franklin. In 1864, Ulysses S. Grant became commander of the Union army in the U.S. Civil War. In 1876, Alexander Graham Bell made the first successful call with the telephone. He spoke the words “Mr. Watson, come here, I want to see you.” In 1880, the Salvation Army arrived in the U.S. from England. In 1912, China became a republic after the overthrow of the Manchu Ch’ing Dynasty. In 1945, American B-29 bombers attacked Tokyo, Japan, killing 100,000. In 1949, Nazi wartime broadcaster Mildred E. Gillars, also known as “Axis Sally,” was convicted in Washington, D.C. Gillars was convicted of treason and served 12 years in prison. In 1966, France withdrew from NATO’s military command to protest U.S. dominance of the alliance and asked NATO to move its headquarters from Paris. In 1969, James Earl Ray pled guilty in Memphis, Tennessee, to the assassination of Martin Luther King Jr. Ray later repudiated the guilty plea and maintained his innocence until his death in April of 1998. In 1971, the U.S. Senate approved an amendment to lower the voting age to 18. In 2006, the Cuban national baseball team played Puerto Rico in the first round of the inaugural World Baseball Classic.
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