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PLANSPONSOR NEWSDASH LOGO October 14th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
COVID-19 Has Low Impact on Nonqualified Plan Design and Administration
A majority of plan sponsors reported no need to review their plans in response to the pandemic, and very few participants have requested emergency withdrawals, according to the Newport/PLANSPONSOR 2020 Executive Benefit Survey.
Ask the Experts
Do Income Limits Apply When Making Roth Contributions to a 403(b)?
“Are there income limits applicable to Roth 403(b) contributions?”
Most Read
Compliance
Contribution Limits Unchanged for 2021
Compliance
House Committee Introduces ‘Securing a Strong Retirement Act of 2020’
Compliance
Examining Trump and Biden’s Plans on Social Security, 401(k)s and Taxes
SPONSORED BY: Fidelity Investments
Rethinking Benefits in the Pandemic Era
Supporting employees’ emotional and financial wellness with an innovative student debt relief strategy
Economic Events
In September, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% on a seasonally adjusted (SA) basis; rising 1.4% over the last 12 months, not seasonally adjusted (NSA), the Bureau of Labor Statistics reported. The index for all items less food and energy rose 0.2% in September ,SA; up 1.7% over the year, NSA.

Real average hourly earnings decreased 0.1% over the month in September, SA. Average hourly earnings increased 0.1% and CPI-U increased 0.2%. Real average weekly earnings increased 0.2% over the month.
Market Mirror
Tuesday, the Dow lost 157.71 points (0.55%) to finish at 28,679.81, the NASDAQ decreased 12.36 points (010%) to 11,863.90, and the S&P 500 fell 22.29 points (0.63%) to 3,511.93. The Russell 2000 was virtually unchanged at 1,636.85, and the Wilshire 5000 closed 162.83 points (0.45%) lower at 36,258.99.

The price of the 10-year Treasury note increased 27/32, bringing its yield down to 0.724%. The price of the 30-year Treasury bond climbed 1 5/32, decreasing its yield to 1.511%.
Compliance
Lawsuit Against Nestle Takes New Approach at Challenging Managed Account Fees
A prior lawsuit against its 401(k) plan recordkeeper and managed account provider was dismissed, with a federal judge saying any claim based on the allegedly excessive fee arrangement lies against only Nestle.
Social Security Announces COLA for 2021
In addition, the maximum amount of earnings subject to Social Security tax—used to determine the taxable wage base for permitted disparity in DC plan contributions—will increase.
Products
BPAS Offers Full DB Service Package
PensionEase combines actuarial benefit calculation services with participant and benefit distribution services.
Small Talk
ON THIS DATE: In 1912, before a campaign speech in Milwaukee, Wisconsin, presidential candidate Theodore Roosevelt was shot at close range by saloonkeeper John Schrank while greeting the public in front of the Gilpatrick Hotel. In 1926, the book “Winnie-the-Pooh,” by A.A. Milne, made its debut. In 1943, the Radio Corporation of America finalized the sale of the NBC Blue radio network. Edward J. Noble paid $8 million for the network that was renamed American Broadcasting Company. In 1947, U.S. Air Force Captain Chuck Yeager became the first person to fly faster than the speed of sound. In 1957, “Wake Up Little Susie” became the Everly Brothers’ first No. 1 hit. In 1964, Dr. Martin Luther King, Jr. was awarded the Nobel Peace Prize for his nonviolent resistance to racial prejudice in America. At age 35, he was the youngest person ever to receive the award. In 1968, the first live telecast to come from a manned U.S. spacecraft was transmitted from Apollo 7.
WEDNESDAY WISDOM: “Life appears to me too short to be spent in nursing animosity, or registering wrongs.”—Charlotte Bronte, English novelist and poet
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