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2022 Plan Sponsor of the Year Finalists
2022 Plan Sponsor of the Year Finalists
Get to know our Plan Sponsor of the Year finalists in the Corporate DC <$25MM category. Profiles are now online.
2022 Plan Sponsor of the Year Finalists: Corporate DC $25MM - $70MM
Profiles are now online for the 2022 Plan Sponsor of the Year finalists in the Corporate DC $25MM – $70MM category.
Most Read
Churchill Holdings ESOP Participants Sue
Pilot Claims American Airlines Prioritized ‘Underperforming’ ESG Funds
Ask the Experts
When Does a New Plan Have to Meet SECURE 2.0 Mandates?
Economic Events
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 $677.7 billion, an increase of 0.9% from the previous month, and 8.2% above April 2021, the Census Bureau announced. Total sales for the February through April period were up 10.8% from the same period a year ago. The February to March percent change was revised from up 0.7% to up 1.4%. Retail trade sales were up 0.7% from March, and up 6.7% above last year. Gasoline stations were up 36.9% from April 2021, while food services and drinking places were up 19.8% from last year.

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 $1,832.1 billion, up 1.8% from February and up 14.1% from March 2021, according to the Census Bureau.
Market Mirror
Tuesday, the Dow gained 431.17 points (1.34%) to finish at 32,654.59, the Nasdaq closed 321.73 points (2.76%) higher at 11.984.52, and the S&P 500 increased 80.84 points (2.02%) to 4,088.85. The Russell 2000 added 56.87 points (3.19%) to close at 1,840.30, and the Wilshire 5000 climbed 831.45 points (2.09%) to 40,617.60.

The price of the 10-year Treasury note was down 9/32, increasing its yield to 2.993%. The price of the 30-year Treasury bond fell 1 29/32, bringing its yield up to 3.189%.
Ask the Experts
Maximum Loan Amount Across Multiple Plans
“We are a public university system that sponsors separate 401(a), 403(b) and 457(b) plans, all of which allow loans. Do all three plans need to be aggregated in determining the maximum a participant may borrow? I read your Ask the Experts column on the subject, but it only references 401(k) and 403(b) plans.”
IRS Again Extends Physical Presence Requirement Relief
The agency is still considering whether to make permanent relief from the requirement for certain elections to be witnessed in person by a plan representative or notary public.
Data and Research
Three in Four Small Businesses Don’t Offer a 401(k) Plan
Lawmakers and states are making efforts to address the perceptions that some businesses are too small to offer a plan and that 401(k)s are too costly to administer.
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. In 1896, the U.S. Supreme court upheld the “separate but equal” policy in the Plessy vs. Ferguson decision. The ruling was overturned 58 years later with Brown vs. Board of Education. In 1917, the Selective Service Act was signed by President Woodrow Wilson. It created the Selective Service System, which managed the induction of some 2.8 million men into the armed forces over the next two years. 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 1953, the first woman to fly faster than the speed of sound, Jacqueline Cochran, piloted an F-86 Sabrejet over California at an average speed of 652.337 miles-per-hour. In 1980, 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 2012, Facebook held its initial public offering (IPO) and raised $16 billion. It was the largest technology IPO in American history to that date, and the third-largest IPO ever in the United States, after those of Visa and General Motors.
WEDNESDAY WISDOM: “Always read something that will make you look good if you die in the middle of it.”—P. J. O’Rourke, American satirist
Industry Intel Roundup—Featured White Paper
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring white papers offering key insights and analysis about the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
SPONSORED BY: Marsh McLennan
Financial Trends
What to consider when managing employees' retirement concerns
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