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PLANSPONSOR NEWSDASH LOGO May 25th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
BENEFITS
Plan Sponsor of the Year Finalist Profiles Published
Plan Sponsor of the Year Finalist Profiles Published
PLANSPONSOR is pleased to publish the 2023 Plan Sponsor of the Year finalist profiles in the Corporate DC >$150MM – $250MM, Corporate DC >$250MM to $1B and Corporate DC >$1B categories.
Compliance
Congressional Leaders Tell Treasury to Expect SECURE 2.0 Technical Corrections
The letter did not outline a timeline but identified four technical errors and ambiguities to be fixed.
Most Read

2023 DC Survey Standouts
Administration
Understanding Investments and Fees: A Key Part of Plan Committee Education
Products
TIAA In-Plan Retirement Income Option Reaches $30B
MARKET MIRROR
Wednesday, the Dow fell 255.59 points (0.77%) to close at 32,779.92, the Nasdaq fell 76.08 points (0.61%) to close at 12,484.16 and the S&P 500 fell 30.34 points (0.73%) to close at 4,115.24. The Russell 2000 fell 20.71 points (1.16%) to close at 1,767.00 and the Wilshire 5000 fell 306.04 points (0.75%) to close at 40,643.81.

The price of the 10-year Treasury note rose 2/32, bringing the yield to 3.750%. The price of the 30-year Treasury bond rose 1/32, bringing the yield to 3.990%.
Data and Research
Millennials Retirement Readiness Fell the Most From 2020
Average retirement account balances increased by 5% from last quarter, in positive movements.  
Deals and People
Cambridge Associates Names New President, Head of Investing
Samantha Davidson will arrive from Mercer to take the reins in July, as Noel O’Neill moves into a new investment implementation position.
GSAM Adds to Multi-Asset Solutions’ Resources
Goldman Sachs Asset Management continues to add resources to outsourcing business with appointments to leadership roles.
EVENTS
Get Your SECURE 2.0 Questions Answered
During a special session at the PLANSPONSOR National Conference in June, Mark Iwry will participate in a lightening round about the new SECURE 2.0 Act. Mark brings a unique insider’s perspective on the legislation, having been Senior Advisor to the Secretary of the Treasury (2009-2017) and the U.S. Treasury Department’s Deputy Assistant Secretary for national Retirement and Health Policy, as well as having advised Hill staff on the development of important parts of the law. It will be a perfect opportunity for you to have your questions answered. Please take a few minutes to complete this short survey to let us know what provisions of the law you want to hear about and what questions you have for Mark. 
SMALL TALK
ON THIS DATE: In 1787, the Constitutional Convention opened in Philadelphia, where 55 state delegates, initially charged with amending the Articles of Confederation, later drafted the Constitution of the United States. In 1810, having severed ties with Spain, the municipal council of Buenos Aires established an autonomous government. In 1935, track-and-field standout Jesse Owens set three world records and equaled one other at a meet in Ann Arbor, Michigan. In 1935, Major League Baseball hall of fame member Babe Ruth hit the 714th and last home run of his career; he retired later that year. In a 1961 speech before Congress, President John F. Kennedy committed the United States to land a man on the Moon by the end of the decade; the goal was achieved with Apollo 11 in 1969. In 1977, George Lucas’s film Star Wars—later known as Star Wars: Episode IV—New Hope) was released. In 2011, the last episode of The Oprah Winfrey Show aired. In 2020, George Floyd, an unarmed African American man, was killed during an arrest in Minneapolis, setting off massive protests around the country and generating greater support for the Black Lives Matter movement; police officer Derek Chauvin was later convicted of his murder.
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