March 8th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Compliance Gensler Defends SEC’s Climate Disclosure Rules at CII Conference The SEC chair explained that more market actors are using climate and greenhouse gas information in investment decision making, and the SEC is trying to standardize their disclosures. Data and Research Retire-and-Relocate Strategy Can Pay Off for Some Retiree Homeowners Vanguard Group research showed that individuals intending to pursue such a plan in retirement must understand the risks involved. Most Read Benefits UAW Members Ratify Contracts With Big 3 Automakers Ask the Experts Can a Plan Sponsor Limit Hardship Distributions? Deals and People Nomination Period Open for 2024 Plan Sponsor of the Year Awards MARKET MIRROR Tuesday, the Dow lost 574.98 points (1.72%) to close at 32,856.46, the Nasdaq lost 145.40 points (1.25%) to close at 11,350.33 and the S&P decreased 62.05 points (1.53%) to close at 3,986.37. The Russell 2000 decreased 21.03 points (1.11%) to close at 1,878.72 and the Wilshire 5000 lost 593.37 points (1.47%) to close at 39,806.49. The price of the 10-year Treasury note was unchanged, bringing the yield to 3.970%. The price of the 30-year Treasury bond decreased 1/32, bringing the yield to 3.874%. Compliance DOL Appoints 5 New Members to the ERISA Advisory Council The new members represent accounting, insurance and the interests of employers, employees and the general public. ASK THE EXPERTS Are CITs Now Permitted in 403(b) Plans? In a recent Ask the Experts column, you indicated that the since-passed SECURE 2.0 Act of 2022 legislation might allow collective investment trusts (CITs) in 403(b) plans. Are CITs now permitted? SMALL TALK ON THIS DATE: In 1817, the New York Stock Exchange was formally created. In 1909, the first National Woman’s Day—now called International Women’s Day—was held in New York City. Its origins trace back to protests in the U.S. and Europe to honor and fight for the political rights of working women. In 1917, the Senate voted to limit filibusters by adopting the rule of cloture. In 1917, riots and strikes over the scarcity of food erupted in the city of Petrograd since renamed St. Petersburg, beginning the February Revolution and the first stage of the Russian Revolution. In 1971, Joe Frazier retained his world heavyweight championship by winning a 15-round decision over former champion Muhammad Ali at Madison Square Garden in New York City. In 1999, the Supreme Court upheld the conviction of Timothy McVeigh for the 1995 bombing of the Alfred P. Murrah Federal Building in Oklahoma City. In 2014, during a flight from Kuala Lumpur to Beijing, Malaysia Airlines Flight 370 disappeared, prompting a massive search effort that was finally called off in early 2017. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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