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PLANSPONSOR NEWSDASH LOGO May 26th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
The Future of Public DC Programs Includes a Focus on Financial Wellness
The Future of Public DC Programs Includes a Focus on Financial Wellness
The pandemic and new data are highlighting the need for more financial wellness help, as well as assistance with asset allocation and retirement income.
Awards
2021 Plan Sponsors of the Year
We are pleased to announce the 2021 Plan Sponsor of the Year winner in the Corporate 401(k) $50MM-$150MM category: Members 1st Federal Credit Union.
Most Read
Compliance
New Financial Audit Rule Increases Requirements for Plan Sponsors
Research
2021 Recordkeeping Survey

2021 Plan Sponsor of the Year
Economic Events
Sales of new single-family houses in April were at a seasonally adjusted annual rate of 863,000, the Census Bureau reported. This is 5.9% below the revised March estimate of 917,000.

The Conference Board Consumer Confidence Index held steady in May, following a gain in April. The Index now stands at 117.2 (1985=100), down marginally from 117.5 in April. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased from 131.9 to 144.3. However, the Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell to 99.1 in May, down from 107.9 last month.
Market Mirror
Tuesday, the Dow closed 81.52 points (0.24%) lower at 34,312.46, the Nasdaq was down 4.00 points (0.03%) at 13,657.17, and the S&P 500 decreased 8.92 points (0.21%) to 4,188.13. The Russell 2000 fell 21.59 points (0.97%) to 2,205.75, and the Wilshire 5000 lost 123.70 points (0.28%) to finish at 43,627.58.

The price of the 10-year Treasury note was up 4/32, decreasing its yield to 1.555%. The price of the 30-year Treasury bond climbed 32/32, bringing its yield down to 2.256%.
Compliance
ERISA Complaint Targets Caesars, Russell Investments
The case includes various allegations of self-dealing and fiduciary imprudence and disloyalty discretionary investment management services provided by Russell Investments to Caesars Entertainment.
Ask the Experts
Crediting Past Service From an Unrelated Employer for Eligibility Purposes
I work at a health care facility that sponsors an ERISA 403(b) plan. We are attempting to recruit some physicians from a hospital in the area who want to join our retirement plan for employer contribution purposes immediately, but our plan has a one-year wait for employer contributions. Is it possible that we could amend our retirement plan to credit services from the physicians’ prior employer when they come work for us, so that they have don’t have to wait a year to receive employer contributions? The physicians’ current employer is unrelated to us.”
Data and Research
Preparing for the Multigenerational Workforce
As younger workers start their careers, employers may need to reorganize benefits to appeal to a wider net of employees.  
Products
FPS, iJoin Streamline Rollovers from 401(k)s to IRAs
The automated service is for accounts that have $5,000 or less.
Small Talk
ON THIS DATE: In 1864, the Territory of Montana was organized. In 1868, at the end of a historic two-month trial, the U.S. Senate narrowly failed to convict President Andrew Johnson of the impeachment charges levied against him by the House of Representatives three months earlier. In 1907, John Wayne, an actor who came to epitomize the American West, was born in Winterset, Iowa. In 1938, the House Committee on Un-American Activities began its work of searching for subversives in the United States. In 1946, a patent was filed in the United States for an H-bomb. In 1972, the Strategic Arms Limitation Treaty (SALT I) was signed by the U.S. and USSR. The short-term agreement put a freeze on the testing and deployment of intercontinental and submarine-launched ballistic missiles for a 5-year period. In 1978, the first legal casino in the Eastern U.S. opened in Atlantic City, New Jersey.
WEDNESDAY WISDOM: “The sun, too, shines into cesspools and is not polluted.”—Diogenes, Greek philosopher
Industry Intel Roundup—Thought Leadership
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring content from thought leadership authorities. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
SPONSORED BY: Capital Group
Inflation: What can plan sponsors expect?
The Federal Reserve’s (Fed) new policy framework tolerates higher inflation to create a stronger, more inclusive economic foundation. While a post-pandemic spike may be temporary, many are concerned that continued inflation could become a longer-term problem, reaching higher levels than we’ve experienced in recent decades.
SPONSORED BY: MFS®
What Goes Into an ESG Rating? Deciphering the Differences in Third-Party ESG Ratings.
With the proliferation of ESG-themed funds, the number of third-party ESG ratings providers has grown, too. Yet lack of standardization for methodology can lead to a wide range of scores for the same company. Explore the basic methodology and what the differences could mean to investors.
SPONSORED BY: PIMCO
What the Pandemic Taught Us About Target Date Funds
Target date funds should be designed to reduce the risk of rash selling.
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