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2022 Plan Sponsor of the Year Finalists
2022 Plan Sponsor of the Year Finalists
PLANSPONSOR is pleased to announce the 2022 Plan Sponsor of the Year finalists in the Corporate DC >$70MM – $150MM and Corporate DC >$150MM – $250MM categories.
Data and Research
CRS Considers How Retirement Plan Industry Can Help With Emergency Savings
Lawmakers have also introduced a bill designed to help employees who have defined contribution plan accounts cover emergency expenses.
Most Read
Is the UAW’s Demand for Return of Pensions a Realistic Ask?
Deals and People
Voya Keeps Building Government Markets Team With Rehire
Data and Research
Unplanned Financial Challenges Continue to Plague US Workers’ Retirement Savings
Economic Events
The Conference Board Consumer Confidence Index increased slightly in March, after a decrease in February. The Index now stands at 107.2 (1985=100), up from 105.7 in February. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—improved to 153.0 from 143.0 last month. However, the Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—declined to 76.6 from 80.8.
Market Mirror
Tuesday, the Dow gained 338.30 points (0.97%) to finish at 35,294.19, the Nasdaq closed 264.73 points (1.84%) higher at 14,619.64, and the S&P 500 added 56.08 points (1.23%) to close at 4,631.60. The Russell 2000 increased 55.04 points (2.65%) to 2,133.10, and the Wilshire 5000 climbed 694.78 points (1.51%) to 46,717.12.

The price of the 10-year Treasury note increased 27/32, bringing its yield down to 2.403%. The price of the 30-year Treasury bond climbed 31/32, decreasing its yield to 2.505%.
Ask the Experts
Retirement Plan Distributions for Incarcerated Persons
“We have a former employee who is incarcerated who has a balance in our ERISA 403(b) retirement plan. We initially thought he was a lost participant, but later found out he is in prison. Is he entitled to a benefit while incarcerated? Should we just send him paperwork regarding his retirement benefit like we would with any other employee?”
Principal Wins Dismissal of ERISA Lawsuit
The complaint alleged a target-date fund suite managed by Principal performed poorly for an excessive period of time, without being adequately reviewed or removed from the plan.
IRS Proposes Regulations Updating MEP ‘One Bad Apple’ Rule
In certain cases, the portion of a multiple employer plan attributable to a participating employer’s failure to meet plan qualification requirements would be spun off.
Retirement Plan Governance Considerations for Collective Investment Trusts
The differences between CITs and mutual funds create different fiduciary implications for plans using them, speakers at a recent webinar said.
Small Talk
ON THIS DATE: In 1822, Florida became a U.S. territory. In 1858, Hyman L. Lipman of Philadelphia patented the pencil. In 1867, the U.S. purchased Alaska from Russia for $7.2 million. In 1870, following its ratification by the requisite three-fourths of the states, the 15th Amendment, granting African American men the right to vote, was formally adopted into the U.S. Constitution. In 1939, the comic book “Detective Comics #27,” which introduced Batman, appeared on newstands. In 1955, James Wong Howe became the first Asian American to win an Academy Award, receiving the Oscar for Best Cinematography for “The Rose Tattoo.” In 1964, “Jeopardy” debuted on NBC-TV. In 1974, John Denver had his first No. 1 hit with “Sunshine On My Shoulders.” In 1981, President Ronald Reagan was shot in the chest outside a Washington, D.C. hotel by a drifter named John Hinckley Jr. In 1998, Rolls-Royce was purchased by BMW in a $570 million deal.
WEDNESDAY WISDOM: “The happiest people seem to be those who have no particular cause for being happy except that they are so.”—William Inge, American playwright and novelist
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