Plansponsor Logo
PLANSPONSOR NEWSDASH LOGO May 22nd, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Final Electronic Disclosure Rule Published by DOL
The leadership at the regulator says this measure will reduce printing, mailing and related plan costs by an estimated $3.2 billion over the next decade.
Compliance
New IRS Revenue Procedure Sets 2021 HSA Limits
The revenue procedure also sets the deductible limits that define a high-deductible health plan for the year.
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
Data and Research
Self-Funded Employers Expected to See Lower Health Benefit Costs
A potential for changing experiences and a plethora of variables make preparing health benefit plans for next year a difficult task.
Economic Events
Interest rates for a 30-year fixed-rate mortgage averaged 3.24% for the week ending May 21, down from last week when it averaged 3.28%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 4.06%. Interest rates for a 15-year fixed-rate mortgage averaged 2.70%, down from last week when it averaged 2.72%. A year ago at this time, the 15-year FRM averaged 3.51%.

In the week ending May 16, the advance figure for seasonally adjusted initial claims for unemployment insurance was 2,438,000, a decrease of 249,000 from the previous week’s revised level of 2,687,000, the Labor Department reported. The four-week moving average was 3,042,000, a decrease of 501,000 from the previous week’s revised average of 3,543,000.

Existing-home sales dropped in April, continuing what is now a two-month skid in sales brought on by the coronavirus pandemic, according to the National Association of Realtors. Each of the four major regions experienced a decline in month-over-month and year-over-year sales, with the West seeing the greatest dip in both categories. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, dropped 17.8% from March to a seasonally-adjusted annual rate of 4.33 million in April. Overall, sales decreased year-over-year, down 17.2% from a year ago (5.23 million in April 2019).
Market Mirror
Thursday, the Dow decreased 101.78 points (0.41%) to 24,474.12, the NASDAQ fell 90.90 points (0.97%) to 9,284.88, and the S&P 500 lost 23.10 points (0.78%) to finish at 2,948.51. The Russell 2000 was virtually unchanged at 1,347.56, and the Wilshire 5000 closed 199.48 points (0.66%) lower at 29,925.90.

The price of the 10-year Treasury note was virtually unchanged, with its yield at 0.678%. The price of the 30-year Treasury bond was up 1/32, decreasing its yield to 1.395%.
Opinions
The Time Is Now to Optimize DC Plan Loan Policies
With the coronavirus relief bill drawing plan sponsors’ attention to their loan policies, it is a good time to consider changes that can help improve retirement outcomes for participants.
Products
Investment Product and Service Launches
American Century releases online TDF tool; Securian adds personalized managed accounts to solutions; BNY Mellon launches Investor Solutions RIA; and more.
Administration
State-Run Retirement Plans Seeing Some Effects From Pandemic
Directors with state-run plans in California and Illinois discussed details of their programs and changes caused by the COVID-19 pandemic.
Small Talk
ON THIS DATE: In 1849, Abraham Lincoln received a patent for the floating dry dock. In 1892, Dr. Washington Sheffield invented the toothpaste tube. In 1900, the Associated Press was incorporated as a non-profit news cooperative in New York. In 1906, the Wright brothers received a patent for their flying machine. In 1947, the Truman Doctrine was enacted by Congress to appropriate military and economic aid to Turkey and Greece. In 1967, “Mister Rogers’ Neighborhood” premiered on PBS. In 1972, President Richard Nixon became the first U.S. president to visit Russia. He met with Soviet leader Leonid Brezhnev. In 1985, Pete Rose passed Hank Aaron as National League run scoring leader with 2,108. In 1992, Johnny Carson hosted NBC’s “Tonight Show” for the last time. He had been host for 30 years. In 2002, in Birmingham, Alabama, a jury convicted former Ku Klux Klansman Bobby Frank Cherry of murder in the 1963 church bombing that killed four girls.

And now it’s time for some FRIDAY FUN!
Some restaurants are coming up with creative ways to social distance, but they may be hard to maneuver.

Cats can be entertaining while stuck at home.

Try this tip for keeping your glasses from fogging while wearing a mask.

Or try these.

Have a great weekend! NEWSDash will be back in your inbox Tuesday.
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2020 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850