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PLANSPONSOR NEWSDASH LOGO November 19th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Biden’s Nomination for PBGC Director Withdrawn
Biden’s Nomination for PBGC Director Withdrawn
President-elect Donald Trump will get to nominate a new candidate for the director position.
ADMINISTRATION
DOL Launches Data Collection Effort For ‘Lost & Found’ Retirement Initiative
Expected to go live in December, the database is designed to serve as a centralized resource for workers and beneficiaries to located unclaimed retirement savings. 
Most Read
Benefits
Rothification, AI Advancements Among Expected Retirement Plan Trends for 2025
Data and Research
State Auto-IRA Challenges Demonstrate Need for Federal Retirement Program, per BPC
Data and Research
Cryptocurrency Assets Make Up Small Part of 401(k) Market, GAO Finds
MARKET MIRROR
Monday, the Dow fell 55.39 points (0.13%) to close at 43,389.60, the Nasdaq rose 111.69 points (0.60%) to close at 18,791.81 and the S&P 500 rose 23.00 points (0.39%) to close at 5,893.62. The Russell 2000 rose 2.51 points (0.11%) to close at 2,306.34, and the FT Wilshire 5000 Index rose 235.80 points (0.40%) to close at 59,236.64.

The 10-year Treasury note increased 2/32, bringing the yield to 4.417%. The 30-year Treasure bond increased 1/32, bringing the yield to 4.610%.
Compliance
Capital One Faces Latest 401(k) Forfeiture Lawsuit
The banking company has been accused of using forfeited funds for its own benefit by funding future employer contributions.
Deals and People
Manulife President, CEO Roy Gori to Retire in May 2025
Phil Witherington, president and CEO of Manulife Asia, has been named Gori’s successor.
SMALL TALK
ON THIS DATE: In 1863, President Abraham Lincoln delivered the brief but renowned Gettysburg Address at the dedication of the National Cemetery in Pennsylvania during the American Civil War. In 1969, Brazilian soccer player Pelé scored his 1,000th career goal. In 1975, the film “One Flew Over the Cuckoo’s Nest” was released in theaters. In 1977, after the Arab-Israeli war of 1973–74, Egyptian President Anwar Sadat began to work toward peace, and he began his historic visit to Israel, during which he offered a peace plan to its parliament. In 2002, as had the House of Representatives the previous week, the U.S. Senate overwhelmingly approved the creation of a new cabinet department, the Department of Homeland Security, to have a workforce of 170,000. In 2007, Amazon began selling the Kindle, a wireless electronic reading device that played a key role in popularizing e-books. In 2017, American criminal and cult leader Charles Manson—whose followers carried out several notorious murders in the 1960s, notably those at the home of Sharon Tate—died in prison at age 83.
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