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Weaving Part-Time Employee Inclusion Into Retirement Plan Processes
Weaving Part-Time Employee Inclusion Into Retirement Plan Processes
The SECURE Act’s requirement to let part-time employees join 401(k)s demands a process for counting hours and creates opportunities to review other procedures.
Most Estimates Show DB Funded Status Declined in September
A decline in equity markets caused funded status to decrease during the month, and firms say DB plan sponsors should prepare for more market volatility through the end of the year.
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2022 Best in Class 401(k) Plans
By Design
New ERISA Lawsuit Targets NFP
Economic Events
August sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $486.6 billion, up 1.4% from the revised July level, but down 2.3% from the revised August 2019 level, the Census Bureau announced. The June to July percent change was revised from the preliminary estimate of up 4.6% to up 4.8%.

Tomorrow, the Bureau of Labor Statistics will reveal the consumer price index for September, and Wednesday, it will reveal the producer price index for September. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about retail sales for September and business trade for August.
Market Mirror
Friday, the Dow was up 161.39 points (0.57%) at 28,586.90, the NASDAQ gained 158.96 points (1.39%) to finish at 11,579.94, and the S&P 500 closed 30.30 points (0.88%) higher at 3,477.13. The Russell 2000 climbed 60.25 points (3.82%) to 1,637.55, and the Wilshire 5000 increased 305.91 points (0.86%) to 35,881.18.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 0.772%. The price of the 30-year Treasury bond increased 27/32, bringing its yield down to 1.571%.

For the week ending October 9, the Dow was up 3.27%, the NASDAQ gained 4.56%, and the S&P 500 increased 3.84%. The Russell 2000 climbed 6.38%, and the Wilshire 5000 finished 4.09% higher.
Inside Angle
DOL Doubles Down
The agency’s recent proposal creates stricter limits for ESG investments.
Deals and People
Retirement Industry People Moves
Morgan Stanley acquires Eaton Vance; The Standard selects employee benefits lead; and Rebalance names retirement services VP.
Small Talk
ON THIS DATE: In 1492, after sailing across the Atlantic Ocean, Italian explorer Christopher Columbus sighted a Bahamian island, believing he had reached East Asia. His expedition went ashore the same day and claimed the land for Isabella and Ferdinand of Spain, who sponsored his attempt to find a western ocean route to China, India, and the fabled gold and spice islands of Asia. In 1810, Bavarian Crown Prince Ludwig married Princess Therese of Saxony-Hildburghausen. The royalty invited the public to attend the event, starting the tradition of the annual celebration known as Oktoberfest. In 1933, the U.S. Department of Justice acquired Alcatraz Island from the U.S. Army. In 1945, Private First Class Desmond T. Doss was presented with the Congressional Medal of Honor for outstanding bravery as a medical corpsman. He was the first conscientious objector in American history to win the award. In 1964, the Soviet Union launched Voskhod 1 into orbit around the Earth. It was the first space flight to have a multi-person crew and the first flight to be performed without space suits. In 1999, Rob Reiner received a star on the Hollywood Walk of Fame. In 2000, the USS Cole, a U.S. Navy destroyer that was refueling at Aden, Yemen, was attacked by terrorists, killing 17 sailors and wounding 38.
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