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PLANSPONSOR NEWSDASH LOGO March 19th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Securing Retirement for Female Workers
Securing Retirement for Female Workers
Faced with a list of priorities and lack of knowledge, women are often the ones who get off course with retirement security.
Opinions
March Madness and the Road to Retirement
George White, with Custodia Financial, discusses how retirement plan loan defaults can throw a wrench in retirement savings and what plan sponsors can do to prevent them.
Most Read
Compliance
CARES Act Passes Congress, Including Retirement Plan Relief
Ask the Experts
Coronavirus-Related Distributions From 403(b) and Governmental 457(b) Plans
Administration
Plan Sponsors Facing Difficult Decisions During Coronavirus Pandemic
Products
Voya Partners With Vault for Student Loan Benefit Solution
The Vault platform provides employers with three core offerings that can be made available to employees.
Economic Events
Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,599,000, the Census Bureau reported. This is 1.5% below the revised January estimate of 1,624,000, but is 39.2% above the February 2019 rate of 1,149,000. Single‐family housing starts in February were at a rate of 1,072,000; this is 6.7% above the revised January figure of 1,005,000. The February rate for units in buildings with five units or more was 508,000.
Market Mirror
Wednesday, the Dow lost 1,338.46 points (6.30%) to finish at 19,898.92, the NASDAQ decreased 344.94 points (4.70%) to 6,989.84, and the S&P 500 dropped 130.77 points (5.17%) to close at 2,398.42. The Russell 2000 fell 115.45 points (10.43%) to 991.23, and the Wilshire 5000 closed 1,458.17 points (5.79%) lower at 23,724.73.

The price of the 10-year Treasury note decreased 32/32, bringing its yield up to 1.185%. The price of the 30-year Treasury bond fell 1 28/32, increasing its yield to 1.757%.
Compliance
Judge Moves Forward Suit Over Walgreen Plan TDF Mismanagement
The judge rejected the defendants’ argument that the complaint cannot be based solely on the funds’ underperformance but must contain more specific allegations.
Investing
News Reports Speak of 2008-Style Money Market Fund Guarantee Program
Echoing a move last enacted during the Great Recession, the federal government is reportedly seeking to temporarily guarantee money market funds.
Small Talk
ON THIS DATE: In 1865, the Battle of Bentonville took place. The Confederates retreated from Greenville, North Carolina. In 1895, the Los Angeles Railway was established to provide streetcar service. In 1916, eight Curtiss “Jenny” planes of the First Aero Squadron took off from Columbus, New Mexico, in the first combat air mission in U.S. history. In 1931, in an attempt to lift the state out of the hard times of the Great Depression, the Nevada state legislature voted to legalize gambling. In 1953, the Academy Awards aired on television for the first time. In 1977, the last episode of “The Mary Tyler Moore Show” aired. In 2003, the United States, along with coalition forces primarily from the United Kingdom, initiated war on Iraq. In 2015, Apple replaced AT&T in the Dow Jones Industrial Average.
SURVEY SAYS: Even for those of us who are retirement plan professionals, seeing what the market is doing to our retirement savings is jarring. This week, I’d like to know, has your firm increased participant communication because of the coronavirus? And, please share any ideas you have for helping participants remain calm during this trying time. You may respond to this week’s survey by 6 p.m. Pacific time today.
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