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PLANSPONSOR NEWSDASH LOGO May 6th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Investing
Prudent Investment Review Processes Need Not Change During Volatility
However, serious downturns can reveal risks plan sponsors didn’t know they had.
Ask the Experts
How to Terminate a 457(b) Plan of a Tax-Exempt Sponsor
“How do I terminate a 457(b) plan of a tax-exempt employer?”
Most Read

2020 Recordkeeping Survey
Data and Research
Edward Jones and Age Wave Introduce the New Four Pillars of Retirement
Compliance
Parties in Emory University 403(b) Plan Lawsuit File Settlement Agreement
Opinions
Barry’s Pickings: OK Boomers
Michael Barry, president of O3 Plan Advisory Services LLC, discusses repercussions of the COVID-19 pandemic that will affect retirement for Baby Boomers.
SPONSORED BY: MassMutual
Coronavirus and Your Company’s Retirement Plan
As more states respond to the Coronavirus by ordering people to shelter in place and closing nonessential business operations, commerce is screeching to a halt. Millions of Americans are being forced onto unemployment rolls, anxiously awaiting their next paycheck and, at least momentarily, postponing saving for retirement.
Market Mirror
Tuesday, the Dow was up 133.33 points (0.56%) at 23,883.09, the NASDAQ climbed 98.41 points (1.13%) to 8,809.12, and the S&P 500 closed 25.70 points (0.90%) higher at 2,868.44. The Russell 2000 increased 9.54 points (0.75%) to 1,273.51, and the Wilshire 5000 gained 266.22 points (0,93%) to finish at 28,909.85.

The price of the 10-year Treasury note decreased 24/32, bringing its yield up to 0.659%. The price of the 30-year Treasury bond fell 1 5/32, increasing its yield to 1.335%.
Compliance
Automotive Manufacturer New Target of ERISA Excessive Fee Suit
The complaint also argues that the structure of Magna International of America’s plan “is rife with potential conflicts of interest.”
Court Dismisses Johnson & Johnson Stock Drop Suit
Johnson & Johnson successfully argued that the plaintiffs have not met the pleading standards established by Fifth-Third v. Dudenhoeffer, however, the court granted them leave to amend their complaint.
Products
DC Plan Annuity Product Available on KTRADE Recordkeeping Platform
DIETRICH has partnered with KTRADE Alliance to offer its ANNUA Direct Quote tool to users of KTRADE.
Small Talk
About 58 million Americans are spending more money while social distancing, despite being able to go out less, in large part because many people are participating in “comfort buying”—that is, shopping to relieve stress and boredom, a new survey suggests.
ON THIS DATE: In 1851, the mechanical refrigerator was patented by Dr. John Gorrie. In 1861, Arkansas became the ninth state to secede from the Union. In 1889, the Universal Exposition opened in Paris, France, marking the dedication of the Eiffel Tower. Also at the exposition was the first automobile in Paris, the Mercedes-Benz. In 1935, President Franklin D. Roosevelt signed an executive order creating the Works Progress Administration (WPA), one of the Great Depression relief programs created under the Emergency Relief Appropriations Act, which Roosevelt had signed the month before. In 1937, the airship Hindenburg, the largest dirigible ever built, burst into flames upon touching its mooring mast in Lakehurst, New Jersey, killing 36 passengers and crewmembers. In 1940, John Steinbeck was awarded the Pulitzer Prize for his novel “The Grapes of Wrath,” a book that traces the fictional Joad family of Oklahoma as they lose their family farm and move to California in search of a better life. In 1941, Bob Hope gave his first USO show at California’s March Field. In 1957, Senator John F. Kennedy was awarded the Pulitzer Prize for his book “Profiles in Courage.” In 1960, President Dwight Eisenhower signed the Civil Rights Act of 1960.
WEDNESDAY WISDOM: The true art of memory is the art of attention.”—Samuel Johnson, English writer
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