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Insight on Plan Design & Investment Strategy Every Weekday
American Rescue Plan Act Turns Things Around for PBGC Multiemployer Plan Program
For the first time in 20 years, both of PBGC’s insurance programs are reporting positive net financial positions.
Ask the Experts
Limiting Compensation for Elective Deferral Purposes
“I work with a 403(b) ERISA plan sponsor. I realize that we must limit employer contributions to the first $290,000 of compensation in 2021 under the 401(a)(17) limit rules. However, do I need to cease elective deferrals when an employee reaches the 401(a)(17) limit, even if the participant has not reached the 402(g) ($19,500 in 2021) elective deferral limit?”
Most Read
2021 DC Plan Benchmarking Survey
Working Past Age 65 May Seem Like a Great Idea …
2022 Retirement Industry Trends to Follow
IRS Announces 2022 Retirement Plan Contribution and Benefit Limits
2021 Recordkeeping Survey
Economic Events
The combined value of distributive trade sales and manufacturers’ shipments for September, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,669.7 billion, up 0.9% from August and up 15.5% from September 2020, the Census Bureau reported.

Advance estimates of U.S. retail and food services sales for October, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $638.2 billion, an increase of 1.7% from the previous month, and 16.3% above October 2020. Retail trade sales were up 1.9% from September and up 14.8% from last year. Gasoline stations were up 46.8% from October 2020, while food services and drinking places were up 29.3% from last year.
Market Mirror
Tuesday, the Dow was up 54.77 points (0.15%) at 36,142.22, the Nasdaq climbed 120.01 points (0.76%) to 15,973.86, and the S&P 500 closed 18.10 points (0.39%) higher at 4,700.90. The Russell 2000 increased 4.09 points (0.17%) to 2,405.02, and the Wilshire 5000 gained 203.56 points (0.42%) to finish at 48,886.59.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.643%. The price of the 30-year Treasury bond decreased 30/32, bringing its yield up to 2.034%.
Huntington Ingalls Settles Lawsuit Over Use of Outdated Mortality Tables
The company has agreed to recalculate monthly benefits for participants and beneficiaries in the ‘legacy’ part of a pension plan.
New Provider Partnerships Focus on Collective Plans
Both Transamerica and Fidelity this week announced new collaborations aimed at supporting clients interested in collective approaches to managing their retirement plans.
John Hancock Retirement Offers Fiduciary Help to Plan Sponsors
Employers can outsource 401(k) plan administration and fiduciary risk through the firm’s partnerships with select TPAs and 3(38) investment management providers.
Small Talk
ON THIS DATE: In 1800, Congress held its first session in Washington, D.C., in the partially completed Capitol building. In 1869, the Suez Canal opened in Egypt, linking the Mediterranean and the Red seas. In 1982, the Empire State Building was added to the National Register of Historical Places. In 1997, Mario Lemieux was voted into the NHL Hall of Fame.
WEDNESDAY WISDOM: “Success is getting what you want. Happiness is wanting what you get.”—Dale Carnegie, American writer and lecturer
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