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Insight on Plan Design & Investment Strategy Every Weekday
Tax Filing Relief Adds Time to Contribute to Benefit Plans
Individuals have more time to contribute to IRAs and HSAs, and employers have more time to contribute to their retirement plans.
Coronavirus News for Plan Sponsors
PLANSPONSOR has created a special page on our website with the latest coronavirus-related news about market volatility, benefits and business updates, and legislative and regulatory actions.
Most Read
2022 Best in Class DC Providers
Church ERISA Charges Dismissed, but Fiduciaries Newport, Symetra Still on the Hook
Ask the Experts
Can Mandatory Contributions to a 401(a) Plan Be Designated as Roth?
FinFit Waives Fee on Financial Wellness Platform
FinFit’s financial wellness platform is available to employers for free through June 30.
Economic Events
New orders for manufactured durable goods in February increased $2.9 billion or 1.2% to $249.4 billion, the U.S. Census Bureau announced. This increase, up four of the last five months, followed a 0.1% January increase. Excluding transportation, new orders decreased 0.6%. Excluding defense, new orders increased 0.1%. Transportation equipment, up two of the last three months, drove the increase, $3.8 billion or 4.6% to $87.0 billion.
Market Mirror
Wednesday, the Dow climbed 495.64 points (2.39%) to 21,200.55, the NASDAQ was down 33.56 points (0.45%) at 7,384.30, and the S&P 500 increased 28.23 points (1.15%) to 2,475.56. The Russell 2000 closed 13.81 points (1.26%) higher at 1,110.34, and the Wilshire 5000 gained 335.93 points (1.37%) to finish at 24,878.45.

The price of the 10-year Treasury note was unchanged, with its yield at 0.851%. The price of the 30-year Treasury bond decreased 31/32, bringing its yield up to 1.433%.
Central States Wins Lawsuit Over Kroger Withdrawal
It was the documented process of the multiemployer plan trustees’ considerations of withdrawal proposals by Kroger that helped them win the case.
Retirement Plan Providers Preparing for Spikes in Loans and Hardships
As the retirement industry awaits details of a coronavirus stimulus relief bill, a spike in participant loans and hardship withdrawals is anticipated.
Small Talk
ON THIS DATE: In 1804, Congress ordered the removal of Indians east of the Mississippi to Louisiana. In 1804, the Louisiana Purchase was divided into the District of Louisiana and the Territory of Orleans. In 1910, Congress passed an amendment to the 1907 Immigration Act that barred criminals, paupers, anarchists and carriers of disease from settling in the U.S. In 1942, Germany began sending Jews to Auschwitz in Poland. In 1945, the battle of Iwo Jima ended. In 1953, Dr. Jonas Salk announced a new vaccine that would prevent poliomyelitis. In 1972, the Los Angeles Lakers broke a National Basketball Association (NBA) record by winning 69 of their 82 games. In 1979, in a ceremony at the White House, Egyptian President Anwar el-Sadat and Israeli Prime Minister Menachem Begin signed an historic peace agreement, ending three decades of hostilities between Egypt and Israel and establishing diplomatic and commercial ties. In 1982, ground breaking ceremonies were held in Washington, D.C., for the Vietnam Veterans Memorial. In 2007, the design for the “Forever Stamp” was unveiled by the U.S. Postal Service.
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