NewsDash – March 10, 2021

March 10th, 2021
Insight on Plan Design & Investment Strategy Every Weekday

Data and Research

Do DC Plan Participants Benefit From Increasing the RMD Age?

Research finds that moving the age for required minimum distributions has little effect on accumulated savings, but participant behavior may change if the goal is to leave assets to heirs.

Ask the Experts

Lifetime Income Illustrations for 403(b) Plans With Annuities

“We are a health care organization that sponsors an ERISA 403(b) plan that is recordkept by an insurance company. Our plan offers both annuities and mutual funds. I read recently that the SECURE Act requires an annual illustration of the annuity that could be purchased from plan assets. Since our recordkeeper already provides customized statements of the monthly benefit that their retirement plan account balance could purchase in the form of an annuity, is there any additional action we would need to take in this regard?”

Most Read

TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?

Participants Will Need Support to Understand Lifetime Income Projections

2021 Recordkeeping Survey

TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?

Milliman Accused of Failing to Prune Bad Investments From 401(k)

Market Mirror

Tuesday, the Dow was up 30.30 points (0.10%) at 31,382.74, the Nasdaq climbed 464.66 points (3.69%) to 13,073.83, and the S&P 500 increased 54.09 points (1.42%) to 3,875.44. The Russell 2000 gained 42.07 points (1.91%) to finish at 2,245.06, and the Wilshire 5000 closed 682.21 points (1.69%) higher at 40,996.21.

The price of the 10-year Treasury note increased 28/32, bringing its yield down to 1.532%. The price of the 30-year Treasury bond climbed 1 28/32, decreasing its yield to 2.240%.

Benefits

Plan Sponsor Roundtable: The New Focus on Financial Wellness

Plan sponsors discussed benefits they consider part of their financial wellness offerings that might not typically be viewed as such.

Investing

OCIOs Can Improve Pension Plan Funding

Plan sponsors that are considering hiring an outsourced chief investment officer should examine its track record and operational qualifications.

Small Talk

One year after the COVID-19 pandemic forced states to issue stay-at-home orders and many employees started working remotely, a survey by Seyfarth at Work reveals what employees have missed and what they are looking forward to when they return to the office. The survey of more than 500 participants from companies of all sizes found employees most miss in-person and “grown-up” workplace conversations. Sixteen percent of employees said they miss the daily commute. Employees were also asked about what they expect from their companies and work in the future.

ON THIS DATE: In 1785, Thomas Jefferson was appointed minister to France. He succeeded Benjamin Franklin. In 1848, the Senate ratified the Treaty of Guadalupe Hidalgo, which ended the war with Mexico. In 1876, the first discernible speech was transmitted over a telephone system when inventor Alexander Graham Bell summoned his assistant in another room by saying, “Mr. Watson, come here; I want you.” Bell had received a comprehensive telephone patent just three days before. 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 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 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.

WEDNESDAY WISDOM: “No man was ever wise by chance.”—Lucius Annaeus Seneca, Roman Stoic philosopher

Industry Intel Roundup—Thought Leadership

PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring content from thought leadership authorities. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.