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Products, Deals and People |
Empower Retirement and health services provider Optum launched a health savings account (HSA) for retirement plan participants—The Empower Health Savings Account. Available this summer to employers, the Empower Health Savings Account will provide plan participants access to an online, seamless financial-planning solution that integrates retirement savings with health care savings, helping them prepare for health care expenses in retirement.Read more > |
Hanson Bridgett is launching Determination Letter Replacement Program (DLRP). It is designed for private-sector, multiemployer, and governmental individually designed plans that have participated in the IRS periodic determination letter program and have a current favorable IRS determination letter.Read more > |
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Economic Events |
The Conference Board Consumer Confidence Index, which had increased in February, improved sharply in March. The Index now stands at 125.6 (1985=100), up from 116.1 in February. The Present Situation Index rose from 134.4 to 143.1 and the Expectations Index increased from 103.9 last month to 113.8. |
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Market Mirror |
Tuesday, the Dow gained 150.52 points (0.73%) to finish at
20,701.50, the NASDAQ closed 34.77 points (0.60%) higher at 5,875.14, and the
S&P 500 increased 16.98 points (0.73%) to 2,358.57. The Russell 2000 was up
9.94 points (0.73%) at 1,367.26, and the Wilshire 5000 climbed 177.83 points
(0.73%) to 24,531.03.
On the NYSE, 3.1 billion shares traded, with advancing
issues outnumbering declining issues nearly 3 to 1. On the NASDAQ, 2.9 billion
shares changed hands, with a 1.6 to 1 ratio of advancers to decliners.
The price of the 10-year Treasury note decreased 12/32,
bringing its yield up to 2.418%. The price of the 30-year Treasury bond fell
25/32, increasing its yield to 3.025%.
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Compliance |
The Internal Revenue Service (IRS) is planning a webinar on Minimum Present Value Requirements for Defined Benefit Plans and would like input on questions or topics to include.Read more > |
High Court Hears Oral Arguments in Church Plan Cases |
The bulk of the oral arguments focused on the definition of a church plan set forth in Section 3(33) of the Employee Retirement Income Security Act (ERISA) and whether deference should be given to Internal Revenue Service (IRS) letters granting church plan status to entities’ plans.Read more > |
Taxation of Retirement Accounts Is On the Table |
One ERISA industry advocate directly engaged with members of Congress says he expects more proposals to emerge from Republicans seeking to “significantly alter our retirement system,” most likely as a part of tax reform.Read more > |
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Ask the Experts |
When to Expect 403(b) Pre-Approved Plans |
“I’ve been reading about the remedial amendment period for 403(b) plan documents. Does this mean that pre-approved 403(b) plans will be available for use soon?”Read more > |
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Small Talk |
ON THIS DATE: In 1638, the first permanent European settlement in Delaware was established. In 1848, Niagara Falls stopped flowing for one day due to an ice jam. In 1943, in the U.S., rationing of meat, butter and cheese began during World War II. In 1961, the 23rd amendment to the U.S. Constitution was ratified. The amendment allowed residents of Washington, D.C., to vote for president. In 1971, a jury in Los Angeles recommended the death penalty for Charles Manson and three female followers for the 1969 Tate-La Bianca murders. The death sentences were later commuted to life in prison. In 1973, the last U.S. troops left South Vietnam. In 1974, Mariner 10, the U.S. space probe became the first spacecraft to reach the planet Mercury. In 1979, the Committee on Assassinations Report issued by U.S. House of Representatives stated the assassination of President John F. Kennedy was the result of a conspiracy. In 1983, Erno Rubik was granted a patent for his Magic Cube. In 1993, Clint Eastwood won his first Oscars for best film and best director for the film “Unforgiven.” In 1995, the U.S. House of Representatives rejected a constitutional amendment that would have limited terms to 12 years in the U.S. House and Senate.
WEDNESDAY WISDOM: “It is not enough to have a good mind; the main thing is to use it well.”—Rene Descartes, French philosopher
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