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PLANSPONSOR NEWSDASH LOGO May 7th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Court Denies Dismissal of Quest Diagnostics ERISA Lawsuit
Court Denies Dismissal of Quest Diagnostics ERISA Lawsuit
In the brief ruling, the district court judge says the plaintiffs have provided sufficient introductory evidence to make discovery in the case appropriate, though the ultimate outcome is far from decided.
Benefits
Building Inclusivity Into Employee Benefits
While it’s a crucial step, experts say promoting an inclusive workplace entails more than offering benefits to different employee demographics. 
Most Read
Research
2021 Target-Date Fund Survey
Compliance
The DOL Has Begun Retirement Plan Cybersecurity Audits
Compliance
Rush of Litigation Against Retirement Plans Expected to Continue
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.96% for the week ending May 6, down from last week when it averaged 2.98%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.26%. Interest on a 15-year fixed-rate mortgage averaged 2.30%, down from last week when it averaged 2.31%. A year ago at this time, the 15-year FRM averaged 2.73%.
Market Mirror
Thursday, the Dow climbed 318.19 points (0.93%) to 34,548.53, the Nasdaq increased 50.42 points (0.37%) to 13,632.84, and the S&P 500 gained 34.03 points (0.82%) to finish at 4,201.62. The Russell 2000 was down 6.86 points (0.31%) at 2,241.42, and the Wilshire 5000 closed 210.19 points (0.48%) higher at 43,723.94.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.571%. The price of the 30-year Treasury bond decreased 23/32, bringing its yield up to 2.248%.
Rules/Regs
Plan Operational Know-How, 2021
Being mindful of the plan’s administrative policy and proactive about monitoring providers can spare the sponsor costly errors.
Products
Investment Product and Service Launches
Northern Trust launches Omnium Event Manager platform and Alger announces second high-conviction, actively managed ETF.
Small Talk
ON THIS DATE: In 1789, the first Presidential Inaugural Ball was held in New York City. In 1800, Congress divided the Northwest Territory into two parts. The western part became the Indiana Territory and the eastern section remained the Northwest Territory. In 1847, the AMA (American Medical Association) was organized in Philadelphia. In 1945, baseball owner Branch Rickey announced the organization of the United States Negro Baseball League. There were six teams. In 1945, Germany signed unconditional surrender ending World War II. It would take effect the next day. In 1946, Tokyo Telecommunications Engineering Corp. was founded. The company was later renamed Sony. In 1975, President Gerald Ford declared an end to the Vietnam War. In 1977, rookie Janet Guthrie set the fastest time on opening day of practice for the Indianapolis 500. Her time was 185.607. In 1992, a 203-year-old proposed constitutional amendment barring the U.S. Congress from giving itself a midterm pay raise was ratified as the 27th Amendment. In 1998, Daimler-Benz bought Chrysler Corp. for close to $40 billion. It was the largest industrial merger on record.

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