Plansponsor Logo
PLANSPONSOR NEWSDASH LOGO May 31st, 2023
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Debt Ceiling Proposal Expected to Pass House
Debt Ceiling Proposal Expected to Pass House
The agreement would extend the debt ceiling until January 2025.
Benefits
Employers Plan to Cut Back on Benefits Amid Recession Fears
25% of HR leaders said they are cutting back on employee financial benefits to prepare for a recession, a Morgan Stanley at Work study reveals. 
Most Read
Administration
Another Trump Term May Change Tax Treatment of Retirement Plans
Benefits
What the Boeing Union Deal Means for Retirement Benefits
Administration
Senate HELP Committee Chair Likely to Flip Under GOP Control
ECONOMIC EVENTS
The Conference Board Consumer Confidence Index fell in May to 102.3, down from an upwardly revised 103.7 in April. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—decreased to 148.6 from 151.8 last month. The Expectations Index—based on consumer’s short-term outlook for income, business and labor market conditions—decreased slightly to 71.5 from 71.7.
MARKET MIRROR
Tuesday, the Dow fell 50.56 points (0.15%) to close at 33,042.78, the Nasdaq rose 41.74 points (0.32%) to close at 13,017.43 and the S&P 500 rose 0.07 points (0.00%) to close at 4,205.52. The Russell 2000 lost 5.73 points (0.32%) to close at 1,767.29, and the Wilshire 5000 gained 9.33 points (0.02%) to close at 41,446.59.

The price of the 10-year Treasury note decreased 4/32, bringing the yield to 3.692%. The price of the 30-year Treasury bond decreased 2/32, bringing the yield to 3.894%.
Deals and People
Smart Bolsters Tech Solutions With Acquisition of ProManage
Smart’s global assets under management soar to more than $10 billion following its recent $95 million Series E funding round. 
Inside Angle
It’s Complicated
Recent litigation says the definition of investment advice is still unclear.
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 1910, Louis Botha formed the first government of the Union of South Africa. In 1921, the Tulsa race massacre began as mobs of white residents attacked Black residents and destroyed homes and businesses in the Greenwood District in Tulsa, Oklahoma. The event is considered one of the worst incidents of racial violence in American history. In 1943, National Football League football player Joe Namath, who was one of the game’s best passers and a cultural sports icon of the 1960s, was born in Beaver Falls, Pennsylvania. In 1962, the State of Israel hanged German official Adolf Eichmann, who had escaped from a prison camp in 1946 and spent some 14 years in hiding, for his part in the Nazi extermination of Jews during World War II. In 1977, the Trans-Alaska Pipeline—which connected the oil fields of Prudhoe Bay in northern Alaska with the harbor at Valdez, 800 miles to the south—was completed. In 2005, it was publicly revealed that former FBI official Mark Felt was the anonymous informant at the center of the Watergate scandal that that led to President Richard Nixon’s resignation. In 2009, Millvina Dean, the last known person to have survived the sinking of the Titanic in 1912, died in Southampton, England; she was nine weeks old at the time of the disaster.
Industry Intel Roundup—Featured White Paper
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring white papers offering key insights and analysis about the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
SPONSORED BY: BOK Financial
Are your plan participants prepared enough for retirement?
Learn how sponsors can benefit from late-career workers while helping them get retirement-ready.
SPONSORED BY: Inspira Financial
Limitless potential in pairing HSAs and limited purpose FSAs
Dive into the intersection of how HSAs and LPFSAs can work together to create powerful financial outcomes for your workforce.
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
rss icon linkedin-in icon
Unsubscribe | Manage Subscriptions | Contact Us
Copyright ©2024 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal
702 King Farm Boulevard, Suite 300, Rockville, MD 20850