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Mortality Tables Reflect Longer Life
Mortality Tables Reflect Longer Life
Updated IRS regulations let retirement plan participants leave their account untouched longer.
Ask the Experts
Can Systematic Withdrawals Be Taken From 457(b) Plans?
“I work with a public higher education institution that sponsors both a 403(b) and a 457(b) plan. A retiring employee, who is a participant in both plans, wants to take systematic withdrawals (monthly payments) from both. I didn’t think she can do so for a 457(b) plan, since it is a plan of deferred compensation. However, the plan’s recordkeeper is saying that systematic withdrawals are permitted from under both plans. Is the recordkeeper correct?”
Most Read
2021 Recordkeeping Survey
Data and Research
Employees Cite Several Reasons for Not Participating in Financial Wellness Programs
Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions
Economic Events
The combined value of distributive trade sales and manufacturers’ shipments for January, adjusted forseasonal and trading day differences but not for price changes, was estimated at $1,568.5 billion, up 4.7% from December and up 7.1% from January 2020, the Census Bureau announced.

Advance estimates of U.S. retail and food services sales for February, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $561.7 billion, a decrease of 3.0% from the previous month, and 6.3% above February 2020. Total sales for the December through February period were up 6.0% from the same period a year ago.
Market Mirror
Tuesday, the Dow closed 127.51 points (0.39%) lower at 32,825.95, the Nasdaq was up 11.86 points (0.09%) at 13,471.57, and the S&P 500 decreased 6.23 points (0.16%) to 3,962.71. The Russell 2000 fell 40.65 points (1.72%) to 2,319.52, and the Wilshire 5000 lost 184.17 points (0.44%) to finish at 42,013.85.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.618%. The price of the 30-year Treasury bond decreased 5/32, bringing its yield up to 2.386%.
GAO Calls on DOL to Issue Cybersecurity Guidance
In a new report, the Government Accountability Office says DC plan fiduciaries need more guidance on cybersecurity.
Deals and People
Experts Say Apollo’s Athene Acquisition Will Position It for More Deals
Athene has been a leader in both pension risk transfers and annuities.
Small Talk
ON THIS DATE: In 461, Saint Patrick, Christian missionary, bishop and apostle of Ireland, died. In 1601, the first recorded parade honoring the Catholic feast day of St. Patrick, the patron saint of Ireland, was held in what is now St. Augustine, Florida. In 1884, in Otay, California, John Joseph Montgomery made the first manned, controlled, heavier-than-air glider flight in the United States. In 1930, construction began on the Empire State Building. In 1941, the National Gallery of Art was officially opened by President Franklin D. Roosevelt in Washington, D.C. In 1942, Douglas MacArthur became the Supreme Commander of the Allied forces in the Southwestern Pacific. In 1969, 70-year-old Golda Meir made history when she was elected as Israel’s first female prime minister. In 1992, White South Africans approved constitutional reforms to give legal equality to Blacks. In 2004, NASA’s Messenger became the first spacecraft to enter into orbit around Mercury. The probe took more than 270,000 pictures before it crashed into the surface of Mercury on April 30, 2015.
WEDNESDAY WISDOM: “Luck is a matter of preparation meeting opportunity.”—Lucius Annaeus Seneca, philosopher
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