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 Benefits Employers Plan to Cut Back on Benefits Amid Recession Fears Deals and People Franklin to Add Retirement AUM With Putnam Acquisition Benefits PPG Agrees to $309M Pension Risk Transfer Deal 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. 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 Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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