March 5th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Lower-Income Workers May Be More Retirement Ready Than They Think Low-income workers do not need to save much because Social Security may be adequate, a study suggests. Opinions Solving the Cash Balance Investment Problem John Lowell, with October Three Consulting, discusses how a market-based cash balance plan design provides for a less complicated way to hedge liabilities. Most Read Data and Research Health Care in Retirement Will Cost an Average of $315,000 Deals and People Retirement Industry People Moves Data and Research 401(k) vs. 403(b): Different Paths to Retirement Readiness Market Mirror Wednesday, the Dow gained 1,173.45 points (4.53%) to finish at 27,090.86, the NASDAQ closed 334 points (3.85%) higher at 9,018.09, and the S&P 500 increased 126.75 points (4.22%) to 3,130.12. The Russell 2000 was up 45.11 points (3.04%) at 1,531.20, and the Wilshire 5000 climbed 1,212.77 points (3.97%) to 31,783. 77. The price of the 10-year Treasury note was down 4/32, increasing its yield to 1.034%. The price of the 30-year Treasury bond fell 1 29/32, bringing its yield to 1.680%. Compliance DOL, PBGC Announce Searchable Guidance Databases Each database contains, or links to, all the agency’s guidance documents and provides certain information about them. Class Action ERISA Fiduciary Breach Lawsuit Targets Evonik Similar to the plethora of ERISA excessive fee fiduciary breach lawsuits that have been filed in recent years, this one suggests the plan failed to use its bargaining power to negotiate lower fees. Participants Coronavirus Fears Lead to Spike in 401(k) Trades The last week of the month was among the busiest stretches in the 20 year-plus history of the Alight Solutions 401(k) Index. Small Talk ON THIS DATE: In 1868, the Senate was organized into a court of impeachment to decide charges against President Andrew Johnson. In 1918, the Soviets moved the capital of Russia from Petrograd to Moscow. In 1923, old-age pension laws were enacted in the states of Montana and Nevada. In 1933, President Franklin D. Roosevelt ordered a four-day bank holiday in order to stop large amounts of money from being withdrawn from banks. In 1946, in one of the most famous orations of the Cold War period, British Prime Minister Winston Churchill condemned the Soviet Union’s policies in Europe and declared, “From Stettin in the Baltic to Trieste in the Adriatic, an iron curtain has descended across the continent.” Churchill’s speech is considered one of the opening volleys announcing the beginning of the Cold War. In 1956, the U.S. Supreme Court affirmed the ban on segregation in public schools. In 1963, the Hula Hoop, a hip-swiveling toy that became a huge fad across America when it was first marketed by Wham-O in 1958, was patented by the company’s co-founder, Arthur “Spud” Melin. In 1985, Mike Bossy (New York Islanders) became the first National Hockey League player to score 50 goals in eight consecutive seasons. In 1997, North Korea and South Korea met for first time in 25 years for peace talks. In 1998, NASA announced that an orbiting craft had found enough water on the moon to support a human colony and rocket fueling station. In 1998, it was announced that Air Force Lt. Col. Eileen Collins would lead the crew of Columbia on a mission to launch a large X-ray telescope. She was the first woman to command a space shuttle mission. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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