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PLANSPONSOR NEWSDASH LOGO October 19th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Deals and People
The Standard Will Acquire Securian Financial’s Recordkeeping Business
The Standard Will Acquire Securian Financial’s Recordkeeping Business
The Standard entered into the definitive agreement to grow its geographical footprint.
Products
T. Rowe Price Adds Emergency Savings App
The tool can help employers to address workers’ financial emergencies.
Most Read
Compliance
Senator Cardin Worried SECURE 2.0 Won’t Pass This Year
Investing
Morgan Stanley Expands Robo-Advising Tech with Blooom Purchase
Compliance
Republicans Move to Prevent SEC Climate Disclosure Requirements
MARKET MIRROR
Tuesday, the Dow increased 337.98 points (1.12%) to close at 30,523.80, the Nasdaq gained 96.60 points (0.90%) to close at 10,772.40 and the S&P 500 was up 42.03 points (1.14%) to end trading at 3,719.98. The Russell 2000 increased 20.20 points (1.16%) to close at 1,755.96 and the Wilshire 5000 gained 446.69 points (1.21%) to close at 37,213.65.

The price of the 10-year Treasury note increased 1/32 bringing the yield down to 4.003%. The price of the 30-year Treasury bond  decreased 1/32 bringing the yield up to 4.027%. 
Compliance
Rising ERISA Litigation and the Importance of Section 104 Disclosure
Defense and plaintiff attorneys offer strikingly different accounts of the systemic issues haunting the ERISA litigation space.
ASK THE EXPERTS
Can a Current Active Participant Transfer Assets From a Frozen Plan To an Active ERISA 403(b) Plan?
“We are a private health care entity that sponsors an active ERISA 403(b) plan and an old frozen non-ERISA 403(b) plan. Is a current active participant in the ERISA 403(b) able to transfer assets in from the frozen non-ERISA plan?”
SURVEYS
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.
SMALL TALK
ON THIS DATE: In 1789, John Jay was sworn in as the first chief justice of the U.S. Supreme Court. In 1781, British General Lord Cornwallis surrendered 8,000 British soldiers and seamen to a larger Franco-American force, effectively bringing an end to the American Revolution. In 1812, one month after Napoleon Bonaparte’s invading force entered Moscow, the French army was forced to retreat out of Russia. In 1977, the supersonic Concorde airplane made its first landing in New York City. In 1985, the first Blockbuster video-rental store opened in Dallas. In 1987, the Dow Jones Industrial Average dropped 508 points—22.6%—the largest-ever one-day percentage decline. In 2006, the Dow Jones Industrial Average ended the day at 12,011.73. It was the first ever close above 12,000.
Industry Intel Roundup—Featured Webcasts
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
SPONSORED BY: SSGA
Are CITs on the Horizon for 403(b) Plans?
The anticipated imminent passage of SECURE 2.0 is poised to change the 403(b) investing landscape by extending the ability to invest in collective investment trusts (CITs). In anticipation of the enactment of this provision, it is important to consider the changes in store for 403(b) plans. Join experts from State Street Global Advisors and Aon for a discussion of: - the current state of the proposed bill - a roadmap for preparing plan sponsors to consider the integration of CITs into their plans, led by a Consultant having these conversations now - how to communicate these changes to participants and prepare for implementation.
2022 PS Plan Progress Webinar Series: Student Loan Debt Benefits
Sponsored by Corebridge Financial Employees burdened with student loan debt might feel limited in their ability to save for retirement. As financial worries can affect employee productivity, and retirement insecurity can affect workforce management, employers often consider how they can help employees with student loan debt management. Join PLANSPONSOR and a panel of experts to learn: • What options are available for student loan debt benefits, their structure and cost, • How student loan repayment help fits into an employer’s overall financial wellness benefits, • What communications employees need about student loan debt and saving for retirement, and more. You won’t want to miss the last iteration of PLANSPONSOR’s 2022 Plan Progress webinar series!
SPONSORED BY: Corebridge
Avoiding Medicare Quicksand and Hidden Traps: Help employees make a successful transition from employer health insurance to Medicare
The transition into retirement is daunting for most employees. Even when they feel prepared. Unbeknownst to most, the road can be unexpectedly and wildly complicated. And filled with hidden traps and pockets of quicksand. At the top of the list of surprises for your employees is Medicare. On its own, it is a powerful, yet complex program. But add in outside forces, and it is difficult to successfully enter Medicare at the exact right moment employer coverage is ending. While employers are not required to master Medicare, understanding the transition your employees will go through can help them side-step the quicksand. In this webinar, you'll get some tips and extra help to take back to your employees, including: • Addressing how employees are cost-blind then cost-blindsided when joining Medicare • Avoiding confusion when older employees think they can choose COBRA • Shoring up details on offering "retiree" health insurance to avoid missteps • Helping employees understand how Social Security triggers Medicare ... and trips up HSA contributions months earlier than they realize
SPONSORED BY: SecureSave
Emergency Savings as an Employee Benefit with Suze Orman
Employees are stressed about their finances – and inflation is making it worse. That stress is showing up in the workplace. PWC says cash-strapped employees are 4.9x more likely to miss deadlines and produce lower quality work. When employees do have emergencies, they often look to their employers for small loans or take a withdrawal from their 401k. These problems can be solved with improved financial wellness. What if there was a benefit that could have an immediate and tangible impact on employees’ financial security while also teaching them savings habits that will last them a lifetime? Employer-sponsored emergency savings accounts help employees feel and be secure. With participation rates close to 60%, employers see a tangible impact on employee financial well-being, leading to improved employee satisfaction, productivity, retention and recruiting. Join the session on this trending employee benefit from SecureSave co-founders Suze Orman and Devin Miller to hear more about: - Why a SecureSave ESA drives employee adoption rates of 60% compared to regular savings accounts or education alone, which see 1-5% - Why employee emergency savings should come before other types of financial planning and how it fits into your overall benefits strategy - How using software to automate and promote employee saving is the best way to drive adoption and create impactful outcomes - Why offering ESAs is one of the easiest and most impactful benefits a company can offer, plus it requires no complicated paperwork or training ​
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