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PLANSPONSOR NEWSDASH LOGO May 19th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Opinions
COVID-19 Compliance Corner: New Loan Provisions Under the CARES Act
Each week, Carol Buckmann, with Cohen & Buckmann P.C., will explain legislative provisions or official guidance related to the COVID-19 pandemic that affect retirement plan sponsors.
Benefits
Employers Are Beefing Up Financial Wellness Programs
The coronavirus pandemic has exposed workers’ need for financial coaching and for employers to offer resources.
Most Read
Compliance
Supreme Court Decision in Thole v. U.S. Bank Has Major Implications for Pensions
Compliance
Heroes Act Now In the Hands of a Skeptical Senate
Compliance
Court Finds Plan Sponsor Could Be Found Liable for Retirement Plan Cyberfraud
SPONSORED BY: Pacific Life
“Women Win At Work When Choosing to Receive Lifetime Income”
The new SECURE Act makes it easier for employers to offer lifetime income through their defined contribution plans. This is good for everyone but offers particular advantages for women as explained here.
Market Mirror
Yesterday, the Dow gained 911.95 points (3.85%) to finish at 24,597.37, the NASDAQ closed 220.27 points (2.44%) lower at 9,234.83, and the S&P 500 increased 90.21 points (3.15%) to 2,953.91. The Russell 2000 was up 76.70 points (6.10%) at 1,333.69, and the Wilshire 5000 climbed 965.19 points (3.34%) to 29,900.07.

The price of the 10-year Treasury note decreased 7/32, bringing its yield up to 0.722%. The price of the 30-year Treasury bond fell 2 28/32, increasing its yield to 1.437%.
Compliance
New Mexico Passes State-Run Retirement Program Legislation
The legislation provides for a state-run auto-IRA program as well as a marketplace from which employers can choose low-cost retirement savings plans.
Partitions May Be the Union Pension Funding Crisis Solution
There is bipartisan support building around the idea of allowing the most stressed union pensions to enact “partitions” in order to remain solvent, but the real challenge is funding such a program.
Small Talk
ON THIS DATE: In 1643, delegates from four New England colonies met in Boston to form a confederation. In 1796, the first U.S. game law was approved. The measure called for penalties for hunting or destroying game within Indian territory. In 1857, the electric fire alarm system was patented by William F. Channing and Moses G. Farmer. In 1864, the Union and Confederate armies launched their last attacks against each other at Spotsylvania in Virginia. In 1911, the first American criminal conviction that was based on fingerprint evidence occurred in New York City. In 1935, T.E. Lawrence, known to the world as Lawrence of Arabia, died as a retired Royal Air Force mechanic living under an assumed name. The legendary war hero, author and archaeological scholar succumbed to injuries suffered in a motorcycle accident six days before. In 1935, the National Football League (NFL) adopted an annual college draft to begin in 1936. In 1974, Erno Rubik invented the puzzle what would later become known as the Rubik’s Cube. In 1981, the Empire State Building was designated a New York City Landmark. In 1992, the 27th Amendment to the U.S. Constitution went into effect. The amendment prohibits Congress from giving itself midterm pay raises. In 2003, hundreds of Albert Einstein’s scientific papers, personal letters and humanist essays were make available on the Internet. Einstein had given the papers to the Hebrew Universtiy of Jerusalem in his will.
TRIVIAL PURSUITS: Who was the world’s first flight attendant?
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