November 5th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Compliance Best of PSNC 2020: Legislative and Regulatory Update Speakers discussed the SECURE Act, the CARES Act and the DOL’s guidance on ESG during the first day of the Best of PLANSPONSOR National Conference Benefits Best of PSNC 2020: The Future of Student Loan Benefits and What to Expect in 2021 Panelists said encouraging better financial wellness can go a long way to helping workers manage their student loans. Most Read Compliance Cybersecurity Risks Still Lurking for Retirement Plan Sponsors Administration Rules for Retaining Benefit Plan Records Benefits What Happens When Student Loan Payment Deferral Ends? SPONSORED BY: Fidelity Investments Rethinking Benefits in the Pandemic Era Supporting employees’ emotional and financial wellness with an innovative student debt relief strategy Market Mirror Wednesday, the Dow added 367.63 points (1.34%) to finish at 27,847.66, the NASDAQ gained 430.21 points (3.85%) to close at 11,590.78, and the S&P 500 closed 74.28 points (2.20%) higher at 3,443.44. The Russell 2000 increased 53.51 points (3.43%) to 1,615.08, and the Wilshire 5000 climbed 755.21 points (2.17%) to 35,543.97. The price of the 10-year Treasury note increased 1 2/32, bringing its yield down to 0.769%. The price of the 30-year Treasury note climbed 3 1/32, decreasing its yield to 1.549%. Compliance Use of Proprietary Target-Date Suite Challenged in ERISA Suit Another self-dealing lawsuit has been filed in federal court, this one seeking $34 million in alleged damages. Opinions Barry’s Pickings: An Opportunity for the Court to Bring Clarity on ERISA Fiduciary Rules Michael Barry, president of O3 Plan Advisory Services LLC, argues that the U.S. Supreme Court, now has an opportunity to provide much needed answers to DC plan fiduciaries. Small Talk ON THIS DATE: In 1605, the “Gunpowder Plot” attempted by Guy Fawkes failed when he was captured before he could blow up the English Parliament. Guy Fawkes Day is celebrated every November 5th in Britain to celebrate his failure to blow up all the members of Parliament and King James I. In 1872, in the U.S., Susan B. Anthony was fined $100 for attempting to vote in the presidential election. She never paid the fine. In 1895, George B. Selden received the first U.S. patent for an automobile. He sold the rights for $200,000 four years later. In 1912, Democrat Woodrow Wilson was elected the 28th president of the United States, with Thomas R. Marshall as vice president. In a landslide Democratic victory, Wilson won 435 electoral votes against the eight won by Republican incumbent William Howard Taft and the 88 won by third-party Progressive Party candidate Theodore Roosevelt. In 1935, the game “Monopoly” was introduced by Parker Brothers Company. In 1940, President Franklin Roosevelt won an unprecedented third term in office. 1946 – John F. Kennedy was elected to the U.S. House of Representatives at the age of 29. In 1959, the American Football League was formed. In 1974, Ella T. Grasso was elected governor of Connecticut. She was the first woman in the U.S. to win a governorship without succeeding her husband. In 1994, George Foreman, age 45, became boxing’s oldest heavyweight champion when he defeated 26-year-old Michael Moorer in the 10th round of their WBA fight in Las Vegas. No SURVEY SAYS this week. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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