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Data and Research
Millennials Would Liquidate Retirement Assets in Market Slump
Millennials Would Liquidate Retirement Assets in Market Slump
Millennials would cash out their retirement plan assets in a market downturn, research shows.
IRS Issues Update on 10-Year RMD Rule
The updated guidance waives the excise tax for those who failed to take a required minimum distribution in 2021 and 2022.
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Senator Cardin Worried SECURE 2.0 Won’t Pass This Year
Morgan Stanley Expands Robo-Advising Tech with Blooom Purchase
Republicans Move to Prevent SEC Climate Disclosure Requirements
Monday, the Dow lost 93.91 points (0.32%) to close at 29,202.88, the Nasdaq decreased 110.30 points (1.04%) to finish at 10,542.102 and the S&P 500 lost 27.27 points (0.75%) to close at 3,612.39. The Russell 2000 decreased 10.23 points (0.60%) to close at 1,691.92 and the Wilshire 5000 lost 293.52 points (0.81%).

The price of the 10-year Treasury note was unchanged and the yield increased to 3.890%. The price of the 30-year Treasury note was unchanged and the yield increased to 3.846%. 
Quanta Services Sued in ERISA Lawsuit
The energy company was sued by two former employees for keeping poorly performing options on its retirement fund menu.
Key Player
The instrumental role an adviser can perform to support plan sponsors.
Webinar: Your HSA Questions Answered
Join PLANSPONSOR and industry experts for a webinar October 13 during which you will increase your understanding of health savings accounts by comparing features to those of defined contribution plans, learn how to position HSAs on your menu of benefits, and hear tips for increasing employee engagement with HSAs. Register today. 
DC Survey Now Open
For more than 20 years, PLANSPONSOR’s annual Defined Contribution Survey has provided benchmarking data for nearly 50 industries/business sectors and for 401(k), 403(b), and other DC plans, as well as nonqualified plans. Represent your industry and plan type by participating, and you’ll receive a free benchmarking report.
In 1776, a British fleet under Sir Guy Carleton defeated 15 American gunboats under the command of Brigadier General Benedict Arnold at the Battle of Valcour Island on Lake Champlain, in what is now Clinton County, New York. In 1884, Eleanor Roosevelt, a civil rights advocate, feminist, author, world diplomat and former First Lady, was born. In 1929, JCPenney opened a store in Milford, DE, making it a nationwide company with stores in all 48 states. In 1971, John Lennon’s song “Imagine” was released. In 1975, “Saturday Night Live,” a topical sketch comedy show, debuted on NBC. In 1984, astronaut Dr. Kathryn D. Sullivan became the first woman to walk in space. In 1991, during the confirmation hearings of Clarence Thomas—who had been nominated to the Supreme Court—lawyer Anita Hill testified before the Senate Judiciary Committee and accused him of sexual harassment; Thomas was narrowly confirmed, 52–48. In 2002, Congress passed a bill, by a wide margin, that granted President George W. Bush broad authority to use force against Iraq. 
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