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PLANSPONSOR NEWSDASH LOGO March 12th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Could DB Plan Sponsors Have Seen a Greater Funded Status Increase in 2019?
Contributions to large pension plans plunged in 2019, nearly matching their lowest point in the past 15 years, according to Russell Investments.
Opinions
Student Debt’s Disproportionate Impact on Women’s Financial Wellness
Kate Winget, senior vice president, Gradifi, discusses the data that can empower employers to support solutions for women’s financial wellness.
Most Read
1
CARES Act Passes Congress, Including Retirement Plan Relief
2
Coronavirus-Related Distributions From 403(b) and Governmental 457(b) Plans
3
Plan Sponsors Facing Difficult Decisions During Coronavirus Pandemic
4
Employers Can Offer More Student Loan Repayment Help to Employees
5
DB Plan Relief Included in the CARES Act
Economic Events
In February, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1% on a seasonally adjusted (SA) basis; rising 2.3% over the last 12 months, not seasonally adjusted (NSA), the Bureau of Labor Statistics reported. The index for all items less food and energy rose 0.2% in February, SA; up 2.4% over the year, NSA.

Real average hourly earnings increased 0.3% over the month in February, SA. Average hourly earnings increased 0.3%, and the CPI-U increased 0.1%. Real average weekly earnings increased 0.5% over the month.
Market Mirror
Wednesday, the Dow lost 1,464.94 points (5.86%) to finish at 23,533.22, the NASDAQ closed 392.20 points (4.70%) lower at 7,952.05, and the S&P 500 decreased 140.85 points (4.89%) to 2,741.38. The Russell 2000 dropped 86.60 points (6.41%) to 1,264.30, and the Wilshire 5000 fell 1,490.20 points (5.12%) to 27,597.82.

The price of the 10-year Treasury note was down 28/32, increasing its yield to 0.869%. The price of the 30-year Treasury bond fell 2 5/32, increasing its yield to 1.376%.
Compliance
Lawsuit Arguing ERISA Preemption of CalSavers Dismissed
A federal court judge found no impermissible reference to or connection with ERISA plans in the statute establishing California’s state-run auto IRA.
IRS OKs HDHP Coverage of Coronavirus Testing
High-deductible health plans (HDHPs) will not lose their special status merely because they cover the cost of testing for or treatment of COVID-19 before plan deductibles have been met.
Invesco Agrees to Pay Nearly $3.5 Million to Settle Self-Dealing Claims
The firm has also agreed to offer non-proprietary ETFs in its 401(k) plan’s self-directed brokerage account.
Small Talk
ON THIS DATE: In 1789, the U.S. Post Office was established. In 1884, the State of Mississippi authorized the first state-supported college for women. It was called the Mississippi Industrial Institute and College. In 1912, the Girl Scout organization was founded. The original name was Girl Guides. In 1933, President Franklin Roosevelt presented his first presidential address to the nation. It was the first of the “Fireside Chats.” In 1947, President Harry Truman established the “Truman Doctrine” to help Greece and Turkey resist Communism. In 1959, the House joined the Senate in approving the statehood of Hawaii. In 1987, “Les Miserables” opened on Broadway. In 1994, a photo by Marmaduke Wetherell of the Loch Ness monster was confirmed to be a hoax. The photo was taken of a toy submarine with a head and neck attached. In 1994, the Church of England ordained its first women priests. In 2009, it was announced that the Sears Tower in Chicago would be renamed Willis Tower.
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