March 22nd, 2023 Insight on Plan Design & Investment Strategy Every Weekday Compliance SEC Balances Competing Interests in Finalizing Cybersecurity Rule The SEC reopened the comment period on a cybersecurity rule which would require updated policies and prompt SEC notification of cyber events. Compliance Church ERISA Charges Dismissed, but Fiduciaries Newport, Symetra Still on the Hook A federal judge in Tennessee dismissed most of the fiduciary breach claims under federal benefits law in multidistrict litigation. Most Read Compliance Regulators Clarify Part-Time Eligibility Rules for ERISA 403(b) Plans Opinions Accumulating Differences: Why Personalization Matters More for Older Investors Products Apollo, Athene Working On Alts, Annuities in DC Investing ECONOMIC EVENTS Existing-home sales jumped 14.5% in February to a seasonally adjusted annual rate of 4.58 million, snapping a 12-month slide and representing the largest monthly percentage increase since July 2020, according to the National Association of Realtors. Compared to one year ago, sales retreated 22.6%. The median existing-home sales price decreased 0.2% from the previous year to $363,000. The inventory of unsold existing homes was unchanged from the prior month at 980,000 at the end of February, or the equivalent of 2.6 months’ supply at the current monthly sales pace.  MARKET MIRROR Tuesday, the Dow rose 316.02 points (0.98%) to close at 32,560.60, the Nasdaq rose 184.57 points (1.58%) to close at 11,860.11 and the S&P 500 rose 51.30 points (1.30%) to close at 4,002.87. The Russell 2000 gained 32.75 points (1.88%) to close at 1,777.74 and the Wilshire 5000 gained 564.85 points (1.44%) to close at 39,674.71. The price of the 10-year Treasury note rose 4/32, bringing the yield to 3.609%. The price of the 30-year Treasury bond rose 2/32, bringing the yield to 3.734%. Ask the Experts Can Mandatory Contributions to a 401(a) Plan Be Designated as Roth? Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations. RESEARCH 2022 Best in Class DC Providers This year’s Best in Class providers set a standard for service excellence. EVENTS New Plan Creation Under SECURE 2.0 Join PLANSPONSOR, PLANADVISER and a panel of industry experts on April 5 as we discuss SECURE 2.0 provisions related to the creation of new retirement plans; why existing plan sponsors should care about the rules for newly created plans; and how SECURE 2.0 can assist advisers and employers in closing the retirement plan coverage gap. SMALL TALK ON THIS DATE: In 1765, British Parliament passed the Stamp Act, which placed taxes on various printed papers in the colonies. In 1790, Thomas Jefferson became the first U.S. Secretary of State. In 1873, slavery was abolished in Puerto Rico. In 1945, the Arab League was formed with the adoption of a charter in Cairo, Egypt. In 1948, English composer Andrew Lloyd Webber, known for works like “Evita” and “Phantom of the Opera,” was born. In 1972, the U.S. Senate approved the Equal Rights Amendment, which guaranteed legal gender equality for women and men. In 2019, Special Counsel Robert Mueller delivered his report on Russian interference with the 2016 U.S. presidential election to the attorney general, William Barr.  Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850