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PLANSPONSOR NEWSDASH LOGO March 24th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
PLAN DESIGN | Compliance
Shelter From a Storm
Shelter From a Storm
Being a safe harbor plan could protect it from turbulence.
We Want to Hear From You
Last Call to Participate in Our Plan Sponsor HSA Survey!
PLANSPONSOR is requesting your feedback regarding health savings accounts (HSAs), which will inform the extensive HSA coverage we have planned for April. Whether you offer an HSA or not, please take a few minutes to respond to our short (~20 question) study on this topic. The deadline to respond is today. Results will be published online in late April, and respondents will receive both a digital reprint of published content and exclusive access to unpublished data/insight from the study. Please respond today.
Most Read
Research
2021 Recordkeeping Survey
Compliance
DOL Clears Up Timing for Lifetime Income Illustrations

2020 Recordkeeping Survey
SPONSORED BY: FPS Group
Discover Cost Effective Ways To Manage Uncashed Distribution Checks
The DOL is stepping up enforcement of missing participants and uncashed checks. FPS can help with easy IRA solutions that save money and reduce exposure. Learn more about this issue and how it impacts your plan with our free whitepaper.
Economic Events
Sales of new single-family houses in February were at a seasonally adjusted annual rate of 775,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 18.2% below the revised January rate of 948,000, but is 8.2% above the February 2020 estimate of 716,000.
Market Mirror
Tuesday, the Dow closed 308.05 points (0.94%) lower at 32,423.15, the Nasdaq decreased 149.85 points (1.12%) to 13,227.70, and the S&P 500 was down 30.07 points (0.76%) at 3,910.52. The Russell 2000 fell 81.16 points (3.58%) to 2,185.69, and the Wilshire 5000 lost 477.83 points (1.15%) to finish at 41,192.87.

The price of the 10-year Treasury note increased 28/32, bringing its yield down to 1.631%. The price of the 30-year Treasury bond climbed 1 26/32, decreasing its yield to 2.335%.
Ask the Experts
Review of DOL Missing Participant Guidance
“I am responsible for our company’s Employee Retirement Income Security Act (ERISA) 403(b) retirement plan and understand that the Department of Labor (DOL) recently released guidance on missing participants. Is there anything we should be concerned about as an ERISA 403(b) plan sponsor?”
Deals and People
Boston Mayor Marty Walsh Confirmed as Labor Secretary
The Department of Labor (DOL) is expected to play a big role in the President Joe Biden’s effort to help the U.S. economy bounce back from the ongoing coronavirus crisis.
Products
Automated Force-Out IRA Processing Now Available from iJoin, PenChecks
The firms say it can help employers, who won’t need to respond to as many inquiries from former employees about reuniting them with their balances.
Small Talk
ON THIS DATE: In 1868, Metropolitan Life Insurance Company was formed. In 1900, the Carnegie Steel Corporation was formed. In 1920, the first U.S. coast guard air station was established at Morehead City, North Carolina. In 1955, Tennessee Williams’ play “Cat on a Hot Tin Roof” debuted on Broadway. In 1989, one of the worst oil spills in U.S. territory began when the supertanker Exxon Valdez, owned and operated by the Exxon Corporation, ran aground on a reef in Prince William Sound in southern Alaska. An estimated 11 million gallons of oil eventually spilled into the water. In 2005, Sandra Bullock received a star on the Hollywood Walk of Fame.
WEDNESDAY WISDOM: “I base most of my fashion taste on what doesn’t itch.”—Gilda Radner, comedian
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