November 23rd, 2020 Insight on Plan Design & Investment Strategy Every Weekday Administration Rules for Retaining Benefit Plan Records Electronic filing is popular, but benefit plan sponsors need to know the rules about what documents can be stored digitally and how. UpFront Retirement Timing: Could It Be Now? Some participants may be more prepared to leave the workforce than they think. Most Read Compliance Rush of Litigation Against Retirement Plans Expected to Continue Compliance John Hancock Agrees to Procedural Changes in ERISA Suit Settlement Research 2021 Target-Date Fund Survey SPONSORED BY: American Century Investments An ERISA Attorney’s Views on Target-Date Fund Selection Brad Campbell opines on how ERISA protects fiduciaries—if they document their decisions the right way. Economic Events Tomorrow, the Conference Board will release its Consumer Confidence Index for November. Wednesday, the Labor Department will issue its initial claims report. The Census Bureau will report about durable goods orders for October and new home sales for October. Market Mirror Friday, the Dow fell 219.75 points (0.75%) to 29,263.48, the NASDAQ decreased 49.74 points (0.42%) to 11,854.97, and the S&P 500 lost 24.33 points (0.68%) to finish at 3,557.54. The Russell 2000 was up 1.21 points (0.07%) at 1,785.34, and the Wilshire 5000 closed 195.87 points (0.53%) lower at 37,023.18. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 0.829%. The price of the 30-year Treasury bond increased 29/32, bringing its yield down to 1.518%. For the week ending November 20, the Dow closed 0.73% lower, the NASDAQ increased 0.22%, and the S&P 500 finished 0.77% lower. The Russell 2000 climbed 2.37%, and the Wilshire 5000 was up 0.08%. Compliance Teva Pharma Excessive Fee Case Reaches Sizable Settlement The pharmaceutical company has agreed to pay more than $2.5 million to settle an ERISA excessive fee lawsuit, out of which up to $850,000 can be paid to the plaintiffs’ attorneys. Deals and People Retirement Industry People Moves TIAA president and CEO announces retirement; Aegon AM selects head of Client Strategy; and Smart introduces new executive team. SPONSORED BY: Fidelity Investments PODCAST: The Power Of Join Fidelity and our guests as we explore the ideas and actions that give us the power to make better decisions about our work, finances, health care, and lives. Small Talk ON THIS DATE: In 1889, the first jukebox made its debut in San Francisco, at the Palais Royale Saloon. In 1921, President Warren G. Harding signed the Willis Campell Act, better known as the anti-beer bill. It forbid doctors to prescribe beer or liquor for medicinal purposes. In 1936, the first issue of the pictorial magazine Life was published. In 1942, the film Casablanca premiered in New York City. In 1964, in Fort Lauderdale, Florida, the International Swimming Hall of Fame was founded. SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers to share what they are thankful for. I want to take the time to recognize that many people have suffered poor health, financial stress and/or loss this year. Positive thoughts go out to everyone. A big thank you to all who shared. I also asked readers for comments about celebrating Thanksgiving this year. Most shared that theirs will be a pared down celebration, and at least one is feeling “more thankful than ever.” Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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