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PLANSPONSOR NEWSDASH LOGO May 21st, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Heroes Act Now In the Hands of a Skeptical Senate
The Heroes Act, passed by a narrow majority in the House, includes union pension partition relief and a waiver for the reinvestment of 2019 and 2020 RMDs.
Benefits
There Are Ways for FSA Holders to Make Use of Their Accounts
The CARES Act has expanded the number of medical devices and medicines the funds can be used to buy, and telehealth is also an option.
Most Read
Administration
Consider Who Is Paying When Benchmarking Retirement Plan Fees
Compliance
Social Security Announces COLA for 2021
Compliance
Lessons From a Rare ERISA Excessive Fee Suit Dismissal
Market Mirror
Wednesday, the Dow closed 369.04 points (1.52%) higher at 24,575.90, the NASDAQ increased 190.67 points (2.08%) to 9,375.78, and the S&P 500 was up 48.67 points (1.67%) at 2,971.61. The Russell 2000 climbed 39.21 points (3.00%) to 1,346.93, and the Wilshire 5000 gained 525.71 points (1.78%) to finish at 30,125.36.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 0.682%. The price of the 30-year Treasury bond was up 2/32, bringing its yield down to 1.404%.
Products
Ascensus Mobile App Will Aid Participants With Savings Decisions
As employees make savings decisions, the app—available this summer—will offer illustrations of what those elections might mean for future progress.
John Hancock Introduces Retirement Planner Tool
The digital tool helps participants project their own retirement readiness and model the impact of taking different steps to improve it.
Groups Offer Guide to Establish Employer Financial Wellness Program
The guide provides employers with the tools, resources and strategies they need to provide the best financial wellness programming for their employees.
SAVVI Financial Offers Short-Term Financial Planning Tool
Planning Assistant is designed specifically for the COVID-19 crisis and takes into account the latest CARES Act rules and resources available.
Small Talk
ON THIS DATE: In 1542, on the banks of the Mississippi River in present-day Louisiana, Spanish conquistador Hernando de Soto died, ending a three-year journey for gold that took him halfway across what is now the United States. In 1832, the Democratic Party held its first national convention. In 1881, in Washington, D.C., humanitarians Clara Barton and Adolphus Solomons founded the American National Red Cross. In 1904, Fédération Internationale de Football Association (FIFA) was founded. In 1922, the cartoon, “On the Road to Moscow,” by Rollin Kirby won a Pulitzer Prize. It was the first cartoon awarded the Pulitzer. In 1956, the U.S. exploded the first airborne hydrogen bomb in the Pacific Ocean over Bikini Atoll. In 1970, the National Guard was mobilized to quell disturbances at Ohio State University.
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