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PLANSPONSOR NEWSDASH LOGO October 12th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
UpFront
Mismanagement of ERISA Accounts
Mismanagement of ERISA Accounts
Plan sponsors that make missteps could face participant claims.
Deals and People
Who’s Still Working for You?: Business Group on Health
In a series of articles, PLANSPONSOR is checking in with industry groups to see what work they have done, and will do, for retirement and health plan sponsors as the pandemic continues and beyond.
Most Read
Compliance
New Financial Audit Rule Increases Requirements for Plan Sponsors
Data and Research
Participants Missing the Full Match Remains a Big Problem
Compliance
Parties in Church Plan Lawsuit Finally Get Preliminary Approval of Settlement
SPONSORED BY: ADP
Help your employees overcome their financial challenges
Learn how to address the most important financial challenges employees face. Get insights on the most impactful financial wellness programs. Download the white paper
Market Mirror
Yesterday, the Dow lost 250.19 points (0.72%) to finish at 34,496.06, the Nasdaq closed 93.34 points (0.64%) higher at 14,486.20, and the S&P 500 decreased 30.15 points (0.69%) to 4,361.19. The Russell 2000 was down 12.45 points (0.56%) at 2,220.64, and the Wilshire 5000 fell 315.42 points (0.69%) to 45,339.13.

The bond market was closed yesterday.
Data and Research
Market Drops in September Move DB Plan Funded Status Lower
The Fed’s reaction to inflation expectations and the outcome of proposed legislation will affect defined benefit plan sponsors’ actions during the remainder of the year.
SPONSORED BY: FIS
Three Steps to New Growth for Retirement Plan Providers
FIS’ 2021 Readiness Report reveals the paths to new growth for retirement plan providers.
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 journey. In 1810, Bavarian Crown Prince Louis, later King Louis I of Bavaria, married Princess Therese von Sachsen-Hildburghausen. The Bavarian royalty invited the citizens of Munich to attend the festivities. The decision to repeat the festivities and the horse races in the subsequent year gave rise to the tradition of the annual Oktoberfest, which now begins in late September and lasts until the first Sunday in October. In 1895, in Newport, Rhode Island, the first amateur golf tournament was held. In 1933, the Department of Justice acquired Alcatraz Island from the Army. In 1945, Private First Class Desmond T. Doss of Lynchburg, Virginia, was presented the Medal of Honor for outstanding bravery as a medical corpsman, the first conscientious objector in American history to receive the nation’s highest military award. In 1964, the Soviet Union launched Voskhod 1 into orbit around Earth, with cosmonauts Vladamir Komarov, Konstantin Feoktistov, and Boris Yegorov aboard. Voskhod 1 was the first spacecraft to carry a multi-person crew, and the two-day mission was also the first flight performed without space suits. In 2000, a motorized rubber dinghy loaded with explosives blew a 40-by-40-foot hole in the port side of the USS Cole, a U.S. Navy destroyer that was refueling at Aden, Yemen. Seventeen sailors were killed and 38 wounded in the attack, which was carried out by two suicide terrorists alleged to be members of Saudi exile Osama bin Laden’s al Qaeda terrorist network.
TUESDAY TRIVIA: What is the origin of the saying “spill the beans?”
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