March 30th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits Lower-Paid Workers Are Declining Employer Health Insurance, Workplace Benefits Separately published research finds significant disparities in employer medical coverage and that employees’ participation in workplace benefits is based on income. AWARDS More Plan Sponsor of the Year Finalists Announced! PLANSPONSOR is pleased to announce the 2023 Plan Sponsor of the Year finalists in the Corporate DC >$250MM – $1B category. Stay tuned for more announcements this week. Most Read Compliance IRS Proposes Regulations for Changes to SECURE 2.0 RMDs Opinions Encouraging Trends in 401(k) Plan Design Compliance What Increased Health Plan-Related Scrutiny Means for Plan Sponsors MARKET MIRROR Wednesday, the Dow gained 323.35 points (1.00%) to close at 32,717.60, the Nasdaq gained 210.16 points (1.79%) to close at 11,926.24 and the S&P 500 gained 56.54 points (1.42%) to close at 4,027.81. The Russell 2000 increased 18.97 points (1.08%) to close at 1,771.59 and the Wilshire 5000 increased 562.42 points (1.43%) to close at 39,880.56. The price of the 10-year Treasury note was unchanged, bringing the yield to 3.573%. The price of the 30-year Treasury bond decreased 1/32, bringing the yield to 3.764%. Data and Research Pension Risk Transfers Spiked in 2022 due to Higher Interest Rates, Report Shows The U.S. pension risk transfer market grew to $51.8 billion last year, totaling 568 transactions, according to Aon’s recent report. Compliance ERISA Complaint Against DISH Network Dismissed A federal judge found the plaintiffs had not established an adequate peer for the funds’ fees and performance in question. SMALL TALK ON THIS DATE: In 1839, Mary Elizabeth Bowser was born. A former slave, Bowser served as an undercover agent for General Ulysses S. Grant during the Civil War by working as a servant in the home of Confederate President Jefferson Davis and was able to glean military intelligence for the Union army. In 1867, William H. Seward, secretary of state under President Andrew Johnson, signed the Alaska Purchase, a treaty ceding Russian North America to the United States for a price—$7.2 million—that amounted to about two cents per acre. In 1879, following ratification by three-quarters of the states, the Fifteenth Amendment granting Black American men the right to vote, was formally adopted into the U.S. Constitution. In 1909, the Queensboro Bridge in New York City opened, linking Manhattan and Queens. In 1955, cinematographer James Wong Howe became the first Asian American to win an Academy Award. In 1981, barely two months after his inauguration, President Ronald Reagan was shot and seriously wounded by would-be assassin John W. Hinckley, Jr. In 1998, Rolls-Royce was purchased by BMW in a $570 million deal. In 2003, a law banning cigarette smoking in all places of employment, including restaurants and bars, went into effect in New York City. 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