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Introducing Generation Z to Retirement
Introducing Generation Z to Retirement
While retirement isn’t achievable for this new clutch of employees for years to come, saving for it is.
Plan Sponsors Facing Difficult Decisions During Coronavirus Pandemic
Stopping employer matching contributions, laying off employees, adjusting DB plan contributions; plan sponsors need to understand the effects of each decision.
Most Read
Finalized Form 5500 Changes Add to Plan Sponsors’ Responsibilities
2021 Recordkeeping Survey
Data and Research
Employees Cite Several Reasons for Not Participating in Financial Wellness Programs
Market Mirror
Yesterday, the Dow gained 690.70 points (3.19%) to finish at 22,327.48, the NASDAQ closed 271.77 points (3.62%) higher at 7,774.15, and the S&P 500 increased 85.18 points (3.35%) to 2,626.65. The Russell 2000 was up 26.33 points (2.33%) at 1,158.32, and the Wilshire 5000 climbed 774.80 points (3.04%) to 26,275.37.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.688%. The price of the 30-year Treasury bond decreased 1 25/32, bringing its yield up to 1.314%.
Fiduciary Failures Affirmed in Fidelity Self-Dealing Challenge
A new district court ruling finds Fidelity liable for certain fiduciary breaches in the operation of its own retirement plan, but the decision ‘addresses only the question of liability, not causation or loss.’
Remedial Amendment Periods for 403(b) Plans and DB Plans Extended
Plan sponsors now have until June 30 to update their pre-approved and individually designed 403(b) plan documents.
Trial Ordered for Anheuser-Busch ERISA Lawsuit
The complaint echoes other cases challenging actuarial assumptions used in calculating DB plan benefits.
Small Talk
ON THIS DATE: In 1885, Binney & Smith Company was founded in New York City. The company later became Crayola, LLC. In 1889, the Eiffel Tower officially opened. In 1906, the Intercollegiate Athletic Association of the United States was founded to set rules in amateur sports. The organization became the National Collegiate Athletic Association in 1910. In 1917, the U.S. purchased and took possession of the Virgin Islands from Denmark for $25 million. In 1918, for the first time in the U.S., Daylight Saving Time went into effect. In 1932, the Ford Motor Co. debuted its V-8 engine. In 1933, Congress authorized the Civilian Conservation Corps to relieve rampant unemployment. In 1940, La Guardia airport in New York officially opened to the public. In 1945, “The Glass Menagerie” by Tennessee Williams opened on Broadway. In 1966, the Soviet Union launched Luna 10, which became the first spacecraft to enter a lunar orbit. In 1987, HBO (Home Box Office) earned its first Oscar for “Down and Out in America.” In 1994, “Nature” magazine announced that a complete skull of Australppithecus afarensis had been found in Ethiopia. The finding is of humankind’s earliest ancestor. In 1998, Buddy Hackett received a star on the Hollywood Walk of Fame. In 1998, for the first time in U.S. history the federal government’s detailed financial statement was released. This occurred under President Bill Clinton’s administration. In 2004, Google announced that it would be introducing a free e-mail service called Gmail.
TRIVIAL PURSUITS: Business closures related to the coronavirus outbreak means some of us may have to forgo getting a haircut for a while. How fast does your hair grow?
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