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PLANSPONSOR NEWSDASH LOGO November 2nd, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Older Workers in Physical Jobs Face Elevated Retirement Insecurity
Older Workers in Physical Jobs Face Elevated Retirement Insecurity
Physically demanding jobs and involuntary retirement worsen retirement insecurity, according to new research.   
Compliance
CEO Pleads Guilty to Fraud, Failing to Pay 401(k) Contributions
Maddox Group’s Adam Belardino faces up to 45 years in prison for wire fraud and making false statements to the IRS.
Most Read
Compliance
Senator Cardin Worried SECURE 2.0 Won’t Pass This Year
Investing
Morgan Stanley Expands Robo-Advising Tech with Blooom Purchase
Compliance
Republicans Move to Prevent SEC Climate Disclosure Requirements
ECONOMIC EVENTS
Construction spending during September was estimated at a seasonally adjusted annual rate of $1,811.1 billion, 0.2% above the revised August estimate of $1,807.0 billion, the Census Bureau reported. The September figure is 10.9% above the September 2021 estimate of $1,632.9 billion. During the first nine months of this year, construction spending amounted to $1,353.7 billion, 11.4% above the $1,215.6 billion for the same period in 2021.
MARKET MIRROR
Tuesday, the Dow decreased 79.75 points (0.24%) to close at 32,653.20, the Nasdaq lost 97.30 points (0.89%) to finish trading at 10,890.85 and the S&P 500 lost 15.88 points (0.41%) to close at 3,856.10. The Russell 2000 gained 4.53 points (0.25%) to close at 1,851.39 and the Wilshire 5000 lost 126.88 points (0.33%) to close at 38,575.72.

The price of the 10-year Treasury note increased 1/32, bringing the yield down to 4.047%. The price of the 30-year Treasury bond increased 1 28/32, bringing the yield down to 4.094%.
Products
Allianz Life Adds Annuity for Defined Contribution Plans
Allianz finds growing numbers of U.S. workers want guaranteed income options in their employer-sponsored retirement plan.
ASK THE EXPERTS
What Are the Limits on a 457(f) Plan?
“I work for a public university that sponsors a 403(b) and 457(b) plan and is currently considering the addition of a 457(f) plan. Now, I know that we can allow all employees to participate in our 403(b) and 457(b) plans, but our recordkeeper is saying that the 457(f) must be limited to select management and highly compensated employees. Is this correct?”
EVENTS
Exploring ESG Investing Conference
Join us Thursday, November 10, for a virtual conference to learn about regulations for environmental, social and governance investing in retirement plans; the debate over whether ESG factors are financial/performance factors; and what allocators, plan sponsors and advisers should consider when deciding whether and how to use ESG investments. 
SMALL TALK
ON THIS DATE: In 1783, General George Washington gave his “Farewell Address to the Army” near Princeton, New Jersey. In 1889, North Dakota was admitted to the union as the 39th U.S. state and South Dakota as the 40th. In 1920, the first commercial radio station in the U.S., KDKA of Pittsburgh, began regular broadcasting. In 1936, the British Broadcasting Corporation officially launched its first television channel, which was also the world’s first regular TV service. In 1983, President Ronald Reagan signed a bill designating the third Monday in January a national holiday in memory of Martin Luther King, Jr. In 1993, Christie Todd Whitman was elected the first woman governor of New Jersey. In 2000, the first resident crew—including one American and two Russians—arrived at the International Space Station. In 2016, the Chicago Cubs won their first World Series championship since 1908, beating Cleveland, 8-7.
Industry Intel Roundup—Featured Webcasts
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
SPONSORED BY: SSGA
Are CITs on the Horizon for 403(b) Plans?
The anticipated imminent passage of SECURE 2.0 is poised to change the 403(b) investing landscape by extending the ability to invest in collective investment trusts (CITs). In anticipation of the enactment of this provision, it is important to consider the changes in store for 403(b) plans. Join experts from State Street Global Advisors and Aon for a discussion of: - the current state of the proposed bill - a roadmap for preparing plan sponsors to consider the integration of CITs into their plans, led by a Consultant having these conversations now - how to communicate these changes to participants and prepare for implementation.
2022 PS Plan Progress Webinar Series: Student Loan Debt Benefits
Sponsored by Corebridge Financial Employees burdened with student loan debt might feel limited in their ability to save for retirement. As financial worries can affect employee productivity, and retirement insecurity can affect workforce management, employers often consider how they can help employees with student loan debt management. Join PLANSPONSOR and a panel of experts to learn: • What options are available for student loan debt benefits, their structure and cost, • How student loan repayment help fits into an employer’s overall financial wellness benefits, • What communications employees need about student loan debt and saving for retirement, and more. You won’t want to miss the last iteration of PLANSPONSOR’s 2022 Plan Progress webinar series!
SPONSORED BY: Corebridge
Avoiding Medicare Quicksand and Hidden Traps: Help employees make a successful transition from employer health insurance to Medicare
The transition into retirement is daunting for most employees. Even when they feel prepared. Unbeknownst to most, the road can be unexpectedly and wildly complicated. And filled with hidden traps and pockets of quicksand. At the top of the list of surprises for your employees is Medicare. On its own, it is a powerful, yet complex program. But add in outside forces, and it is difficult to successfully enter Medicare at the exact right moment employer coverage is ending. While employers are not required to master Medicare, understanding the transition your employees will go through can help them side-step the quicksand. In this webinar, you'll get some tips and extra help to take back to your employees, including: • Addressing how employees are cost-blind then cost-blindsided when joining Medicare • Avoiding confusion when older employees think they can choose COBRA • Shoring up details on offering "retiree" health insurance to avoid missteps • Helping employees understand how Social Security triggers Medicare ... and trips up HSA contributions months earlier than they realize
SPONSORED BY: SecureSave
Emergency Savings as an Employee Benefit with Suze Orman
Employees are stressed about their finances – and inflation is making it worse. That stress is showing up in the workplace. PWC says cash-strapped employees are 4.9x more likely to miss deadlines and produce lower quality work. When employees do have emergencies, they often look to their employers for small loans or take a withdrawal from their 401k. These problems can be solved with improved financial wellness. What if there was a benefit that could have an immediate and tangible impact on employees’ financial security while also teaching them savings habits that will last them a lifetime? Employer-sponsored emergency savings accounts help employees feel and be secure. With participation rates close to 60%, employers see a tangible impact on employee financial well-being, leading to improved employee satisfaction, productivity, retention and recruiting. Join the session on this trending employee benefit from SecureSave co-founders Suze Orman and Devin Miller to hear more about: - Why a SecureSave ESA drives employee adoption rates of 60% compared to regular savings accounts or education alone, which see 1-5% - Why employee emergency savings should come before other types of financial planning and how it fits into your overall benefits strategy - How using software to automate and promote employee saving is the best way to drive adoption and create impactful outcomes - Why offering ESAs is one of the easiest and most impactful benefits a company can offer, plus it requires no complicated paperwork or training ​
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