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PLANSPONSOR NEWSDASH LOGO May 10th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Pension Plan Sponsors Can Tackle Improper Payments
Pension Plan Sponsors Can Tackle Improper Payments
More rigorous approaches may be needed for corporate pension plan sponsors to curtail profligate payments.
Compliance
Data Breach Results in Lawsuit Against Actuarial Firm
The plaintiff suggests an actuarial and administrative services firm did not take sufficient care to protect certain clients’ personally identifiable information.
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
ECONOMIC EVENTS
March sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $686.2 billion, up 1.7% from the revised February level and up 22.1% from the revised March 2021 level, the Census Bureau reported. The January to February percent change was revised from the preliminary estimate of up 1.7% to up 1.5%.
MARKET MIRROR
Monday, the Dow dropped 653.67 points (1.99%) to 32,245.70 , the Nasdaq was down 521.41 points (4.29%) to close at 11,623.25, and the S&P 500 lost 132.10 points (3.20%) to 3,991.24. The Russell 2000 was down 77.48 points (4.21%) to 1,726.08, and the Wilshire 5000 dropped 1,470.92 points (3.58%) to 39,586.54.

The price of the 10-year Treasury note increased to 30/32 lowering its yield to 3.041%. The price of the 30-year Treasury bond gained 1 30/32 decreasing its yield to 3.157%.
Participants
401(k) Trading Slows as Investors Remain Cautious
The latest data from Alight Solutions shows there were no above-normal trading days in April.
EVENTS
2022 PLANSPONSOR National Conference
Retirement industry executives and researchers get the 2022 PLANSPONSOR National Conference started with a Town Hall-type discussion. It’s an opportunity to hear expert opinions and perspectives about retirement industry trends and plan sponsor concerns. Conference registrants will soon receive a survey to weigh in on topics to be addressed during the discussion and to submit questions they would like answered. Learn more about the event and register today!
RULES/REGS
More From Washington And the Courts
Fraudulent hardship withdrawal case will proceed; the Department of Labor seeks comments on possible climate change risk to retirement savings; the DOL speaks to brokerage windows only; and more.
SMALL TALK
ON THIS DATE: In 1773, English Parliament passed the Tea Act, which taxed all tea in the U.S. colonies. In 1869, the transcontinental railroad was completed to unify the United States. In 1872, Victoria Woodhull became the first woman nominated for the U.S. presidency. In 1877, President Rutherford B. Hayes had the first phone installed at the White House. In 1940, then-First Lord of the Admiralty Winston Churchill, was called to replace Neville Chamberlain as British prime minister. In 1969, the National and American Football Leagues announced the planned merger for the 1970-71 season. In 1994, in South Africa, Nelson Rolihlahla Mandela was sworn in as the first Black president of South Africa. In 2013, in New York City, crane operators hoisted the final pieces of the spire atop One World Trade Center.
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