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PLANSPONSOR NEWSDASH LOGO March 9th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Paper Statements, Word Choices: Encouraging Later Social Security Claims
Paper Statements, Word Choices: Encouraging Later Social Security Claims
Legislation proposed in the Senate seeks to reduce the number of seniors leaving Social Security benefits on the table by beginning collection at age 62.
Compliance
Managing Investment Risk in Chinese Assets
An expert panel hosted by CII discussed the risks of investing in China and what it means for retirement plan investment selection.
Most Read

2023 DC Survey Standouts
Administration
Understanding Investments and Fees: A Key Part of Plan Committee Education
Data and Research
Financial Literacy Quiz Reveals Americans Lack Understanding of Retirement Income
MARKET MIRROR
Wednesday, the Dow lost 58.06 points (0.18%) to close at 32,798.40, the Nasdaq increased 45.67 points (0.40%) to close at 11,576.00 and the S&P 500 increased 5.64 points (0.14%) to close at 3,992.01. The Russell 2000 increased 0.75 points (0.04%) to close at 1,879.57 and the Wilshire 5000 increased 48.56 points (0.12%) to close at 39,855.04.

The price of the 10-year Treasury note decreased 24/32, bringing the yield to 3.992%. The price of the 30-year Treasury bond decreased 4/32, bringing the yield to 3.896%.
Administration
Empower Expands Wealth Management Offerings
New services will include combining, monitoring, and advising wealth across investments, including workplace retirement plans.
Benefits
What the Potential Shutdown of Biden’s Loan Forgiveness Plan Could Mean for Plan Sponsors
Student loan repayment will likely resume later this year, providing even more reason for plan sponsors to offer student debt benefits to employees.
Compliance
Upcoming EBSA Webinars Will Detail Fiduciary Duties
Three EBSA webinars this month will explain the basics of ERISA fiduciary duties for retirement and health plans.
SMALL TALK
ON THIS DATE: In 1796, Napoleon Bonaparte, future emperor of France, married Joséphine; he had the marriage annulled in 1810. In 1862 during the U.S. Civil War, the ironclad ships Monitor and Virginia battled in the harbor at Hampton Roads, Virginia, marking the beginning of a new era of naval warfare. In 1916, the peasant-born revolutionary leader Pancho Villa attacked the border town of Columbus, New Mexico, in retaliation for U.S. support of his rivals for the control of Mexico. In 1918, the Bolshevik Party formally changed its name to the All-Russian Communist Party, thus birthing the Communist Party as it is remembered to history. In 1959, Barbie, a toy doll that became an international sensation despite criticism, was introduced by Mattel Inc. In 1979, the 26 Major League Baseball teams were ordered by MLB Commissioner Bowie Kuhn to allow equal access to all reporters, regardless of sex. The commissioner’s order came after Sports Illustrated reporter Melissa Ludtke’s successful lawsuit against MLB for refusing her access to clubhouses at Yankee Stadium during the 1977 World Series. In 1996, comedian and actor George Burns—whose career in show business spanned 93 years, the highlights of which included a popular comedy act with his wife, Gracie Allen died at age 100. In 1997, entertainer Christopher Wallace, better-known for his stage name—The Notorious B.I.G.—was murdered in Los Angeles. In 2011, Illinois Governor Pat Quinn signed legislation that abolished the death penalty in the state. 
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