November 23rd, 2022 Insight on Plan Design & Investment Strategy Every Weekday Compliance DOL Finalizes ESG Consideration in Retirement Investing With final DOL ruling, plan sponsors can consider climate change and other ESG factors when selecting investments. Compliance Judge Sides with Nestlé In Request to Dismiss 401(k) Class Action Suit Judge recommends dismissal of a class action lawsuit brought by a participant against Nestlé with accusations of unnecesarily high fees and self-dealing. Most Read Deals and People Ascensus Pens Deal for Vanguard’s Small Plan Recordkeeping Division Data and Research Saver’s Match Has Potential to Incentivize Retirement Savings for Lower-Income Americans Data and Research Employers Risk Facing Turnover Without Comprehensive Benefits Offerings MARKET MIRROR Tuesday, the Dow gained 397.82 points (1.18%) to close at 34,098.10, the Nasdaq increased 149.90 points (1.36%) to end trading at 11,174.41 and the S&P 500 increased 53.64 points (1.36%) to close at 4,003.58. The Russell 2000 gained 21.30 points (1.16%) to end trading at 1,860.44 and the Wilshire 5000 increased 532.07 points (1.36%) to close at 39,779.73. The price of the 10-year Treasury note decreased 2/32, bringing the yield up to 3.758%. The price of the 30-year Treasury bond decreased 3/32, bringing the yield up to 3.830%.   Data and Research Employers Expect to Raise Pay in 2023 Beyond 2022 Increases Despite WTW data showing broad employer salary increases in the U.S. for 2023, three-quarters of the 1,550 U.S employer respondents report persistent problems recruiting and retaining employees. ASK THE EXPERTS Can A 403(b) Plan Continue to Provide Benefits Once The Sponsoring Organization Shuts Down? I am the new general manager of our 501(c)(4) homeowners association, an employer eligible to sponsor an ERISA plan; and have been asked to sign the 5500 for our 401(k) plan for our employees. The association is small and has nowhere near 100 participants, so I’ve been asked to sign the 5500-SF. However, even in signing that form, I am concerned about any responsibilities and liabilities that go along with signing the forms. Can the Experts provide some clarification? Thanks! SURVEYS CIO’s Transition Management Survey Are you a provider of transition management services and want to make your services known to institutional investors? If so, you are invited to respond to CIO’s Transition Management Survey. EVENTS Plan Progress Webinar: Student Loan Debt Benefits Join PLANPSONSOR and a panel of experts on December 15 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.  SMALL TALK ON THIS DATE: In 1765, Frederick County, Maryland, repudiated the British Stamp Act. In 1859, the infamous outlaw Billy the Kid was born. In 1863, at the Battles for Chattanooga, the Union Army began a campaign that produced a decisive victory during the American Civil War. In 1936, the first issue of Life magazine was published. In 1988, Wayne Gretzky scored his 600th N.H.L. goal. In 1991, the Sacramento Kings ended the N.B.A.’s longest road losing streak at 43 games.  EDITOR'S NOTE PLANSPONSOR NewsDASH In observance of Thanksgiving, ISS offices are closed Thursday, November 24, and Friday, November 25, and there will be no PLANSPONSOR NewsDASH newsletter. The PLANSPONSOR NewsDASH will resume Monday, November 28. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 400, Rockville, MD 20850