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PLANSPONSOR NEWSDASH LOGO November 12th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Latest 401(k) Plan Forfeiture Complaint Filed Against BMO Financial
Latest 401(k) Plan Forfeiture Complaint Filed Against BMO Financial
The bank’s retirement plan committee faces a complaint for alleged misuse of forfeited plan funds.
Administration
Principal CEO: Recordkeepers Should Get Creative to Enhance Services, Go Beyond Scale
The industry will see further consolidation, with winners innovating for advisers and participant services, according to the head of the recordkeeper, asset manager and insurer.
Most Read
Compliance
IRS Sends Final Reminder for Retirees to Take 2024 RMDs
Compliance
IRS Issues 2024 Required Amendment List for Qualified and 403(b) Plans
Data and Research
Plan Sponsors Understand Need for Guaranteed Income, but Lack ‘Annuity Fluency’
MARKET MIRROR
Monday, the Dow rose 304.14 points (0.69%) to close at 44,293.13, the Nasdaq rose 11.99 points (0.06%) to close at 19,298.76 and the S&P 500 rose 5.81 points (0.10%) to close at 6,001.35. The Russell 2000 rose 35.34 points (1.47%) to close at 2,434.98, and the FT Wilshire 5000 Index rose 185.12 points (0.31%) to close at 60,494.30.The Treasury market was closed in observance of Veteran’s Day.
Administration
DOL Announces Extended Deadlines for Plans Impacted by Hurricanes Helene, Milton
In all impacted areas, relief ends on May 1, 2025.
Opinions
Retirement Income Stands Out as a Rare Consensus Focus for Politicians
Both major political parties and the business community agree on the need for solutions to help address challenges around income in retirement, and they’ve taken action to address them.
SMALL TALK
ON THIS DATE: In 1930, the first Round Table Conference, called by the British government to consider the future constitution of India, opened in London. In 1931, Abbey Road Studios opened in London and was later made famous by the Beatles, who recorded most of their albums there. In 1954, the immigration reception center at Ellis Island, New York, which processed more than 12 million immigrants, was closed. In 1971, Arches National Park—a desert area of sandstone formations in eastern Utah—was established; the region had been designated a national monument in 1929. In 1980, the U.S. space probe Voyager 1 reached the planet Saturn. In 1994, sprinter Wilma Rudolph, who overcame crippling childhood illnesses to become the first American woman to win three track-and-field gold medals in a single Olympics, died in Tennessee. In 2011, as Italy struggled amid the euro-zone debt crisis, Prime Minister Silvio Berlusconi submitted his letter of resignation; four days later he was succeeded by Mario Monti. In 2018, comic book writer Stan Lee—who helped create iconic characters and teams like the Fantastic Four, Spider-Man, the Avengers and the X-Men for Marvel Comics—died at age 95.
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