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PLANSPONSOR NEWSDASH LOGO October 21st, 2024
Insight on Plan Design & Investment Strategy Every Weekday
Administration
ERISA Industry Committee Seeks Additional IRS Guidance on Student Loan Matching
ERISA Industry Committee Seeks Additional IRS Guidance on Student Loan Matching
Following guidance released this summer by the IRS about SECURE 2.0’s student loan matching provision, the advocacy organization still has unanswered questions.
EVENTS
Cyber Cache: Does Your Tech “Stack” Up?
The November 6 livestream event will help unlock the full potential of technology in your investment decisions and offer insight into the tools that can help your team thrive in the digital age, while keeping data safe.
Most Read
Administration
IRS Increases 401(k) Limit to $23,500 for 2025, IRA Limit Stays $7,000
Compliance
Coca-Cola Southwest Faces Lawsuit Over Forfeitures, Target-Date Funds
Data and Research
Customer ID Program Poses Challenges for State Auto-IRAs
ECONOMIC EVENTS
Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.
MARKET MIRROR
Friday, the Dow rose 36.86 points (0.09%) to close at 43,275.91, the Nasdaq rose 115.94 points (0.63%) to close at 18,489.55 and the S&P 500 rose 23.20 points (0.40%) to close at 5,864.67. The Russell 2000 fell 4.76 points (0.21%) to close at 2,276.09, and the FT Wilshire 5000 Index rose 215.60 points (0.37%) to close at 58,763.38.The 10-year Treasury note increased 1/32, bringing the yield to 4.082%. The 30-year Treasury bond decreased 2/32, bringing the yield to 4.399%.In the week ending October 18, the Dow rose 1.07%, the Nasdaq rose 0.73% and the S&P 500 rose 0.81%. The Russell 2000 rose 2.13%, and the FT Wilshire 5000 Index finished 0.95% higher.
Administration
ERISA Advisory Council to Meet Again on QDIA Topic
The virtual meeting will focus on lifetime income and the access to claims procedures.
DEALS AND PEOPLE
Retirement Industry People Moves
Nationwide Retirement hires new Midwest regional VP; Simpson Thacher hires new executive compensation and employee benefits partner; John Hancock Retirement appoints head of participant outcomes; and more. 
SMALL TALK
ON THIS DATE: In 1833, Swedish chemist, engineer and industrialist Alfred Nobel, who invented dynamite and other more powerful explosives and who also founded the Nobel Prizes, was born in Stockholm. In 1940, novelist Ernest Hemingway published his classic novel “For Whom the Bell Tolls,” it was later adapted into an acclaimed film. In 1959, the Guggenheim Museum, designed by Frank Lloyd Wright, opened in New York City. In 1960, John F. Kennedy and Richard Nixon debated for the fourth and final time before the 1960 U.S. presidential election. In 1964, the American musical film “My Fair Lady,” starring Rex Harrison and Audrey Hepburn, had its world premiere, and it later won eight Academy Awards, including that for best picture. In 2012, politician and liberal activist George McGovern, who ran unsuccessfully as a reformist Democratic challenger in the 1972 presidential race against incumbent Republican President Richard Nixon, died at age 90. In 2018, actress Julia Louis-Dreyfus, who starred in sitcoms like “Seinfeld” and “Veep,” was officially awarded the Kennedy Center’s Mark Twain Prize for American Humor, the highest award in comedy. 
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