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CARES Act May Help DB Plans Avoid Funding-Based Limitations
CARES Act May Help DB Plans Avoid Funding-Based Limitations
DB plan sponsors can use help provided in the CARES Act and take other actions to avoid falling into funded status zones that would impact benefits.
Data and Research
Public DBs May Lose Ground on Funding Progress
However, all but the worst-funded plans will maintain sufficient assets from which to pay benefits, a study finds.
Most Read
2022 Recordkeeping Survey
IRS Updates Life Expectancy Tables for Retirees
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
Pandemic Highlights Reasons for Reviewing Plan Fees
Michael Bird, with Valentine 401(k), discusses how plan sponsors can evaluate 401(k) fees as a way to save money and a way to boost participant retirement savings.
Economic Events
The combined value of distributive trade sales and manufacturers’ shipments for March, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,386.1 billion, down 5.2% from February and down 4.9% from March 2019, the Census Bureau reported.

Advance estimates of U.S. retail and food services sales for April, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $403.9 billion, a decrease of 16.4% from the previous month, and 21.6% below April 2019. Total sales for the February through April period were down 7.7% from the same period a year ago. Retail trade sales were down 15.1% from March, and 17.8% below last year. Clothing and clothing accessories stores were down 89.3% from April 2019, while nonstore retailers were up 21.6% from last year.

Tomorrow, the Census Bureau will report about housing starts in April. Thursday, the Labor Department will issue its initial claims report and the National Association of Realtors will report about existing home sales for April.
Market Mirror
Friday, the Dow was up 60.08 points (0.25%) at 23,685.42, the NASDAQ gained 70.84 points (0.79%) to finish at 9,014.56, and the S&P 500 increased 11.20 points (0.39%) to 2,863.70. The Russell 2000 climbed 19.44 points (1.57%) to 1,256.99, and the Wilshire 5000 closed 155.28 points (0.54%) higher at 28,934.89.

The price of the 10-year Treasury note decreased 24/32, bringing its yield up to 0.643%. The price of the 30-year Treasury bond was down 8/32, increasing its yield to 1.324%.

For the week ending May 15, the Dow lost 2.65%, the NASDAQ was down 1.17%, and the S&P 500 decreased 2.26%. The Russell 2000 fell 5.46%, and the Wilshire 5000 finished 2.48% lower.
PeopleKeep Introduces HRA Product for Employers With Group Health Plans
Employers offering group health plans can supplement their employees’ out-of-pocket expenses tax--free.
Deals and People
Retirement Industry People Moves
Former principal joins Cohen & Buckmann as senior counsel; SMArtX selects president and COO; and Heartland Retirement Plan Services hires business development leader.
Small Talk
ON THIS DATE: In 1798, the first Secretary of the U.S. Navy, Benjamin Stoddert, was appointed. In 1860, Abraham Lincoln, a one-time U.S. representative from Illinois, was nominated for the U.S. presidency at the Republican National Convention meeting in Chicago, Illinois. In 1897, a public reading of Bram Stoker’s new novel, “Dracula, or, The Un-dead,” was performed in London. In 1934, Congress approved an act, known as the “Lindberg Act,” that called for the death penalty in interstate kidnapping cases. In 1951, the United Nations moved its headquarters to New York City. In 1980, at 8:32 a.m. PDT, Mount St. Helens, a volcanic peak in southwestern Washington, suffered a massive eruption, killing 57 people and devastating some 210 square miles of wilderness. In 1998, the U.S. federal government and 20 states filed a sweeping antitrust case against Microsoft Corp., saying the computer software company had a “choke hold” on competitors which denied consumer choices by controlling 90% of the software market. In 2012, Facebook Inc. held its initial public offering and began trading on the NASDAQ. The company was valued at $104 billion making it the largest valuation to date for a newly listed public company.
SURVEY SAYS RESPONSES: Last week, I asked NEWSDash readers, “Do you think some states are relaxing orders too soon, and when would you feel safe returning to the office to work?” Asked whether they think states are relaxing orders related to social distancing during the COVID-19 pandemic too soon, 42.2% of responding readers said yes, and 28.1% indicated they think some states are and others aren’t. One to two months was the most selected time frame for when respondents would feel safe returning to the office to work, with 23.4% selecting it. Two to three months was the second most selected time frame (17.2%), followed by more than six months (14.1%). The majority of responding readers who left comments relayed the actions they feel are necessary for them to return to the office environment. Some just say we should get back to work. A number of readers shared what their companies are doing for return-to-work strategies. Editor’s Choice goes to the reader who said, “In late March, I spent 3.5 days in the hospital with Influenza B. I don’t want to meet COVID19.” So glad that reader is feeling better. A big thank you to all who participated in the survey!
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