NewsDash – October 25, 2023

October 25th, 2023
Insight on Plan Design & Investment Strategy Every Weekday

Data and Research

More Workers ‘Terrified’ They Cannot Afford Health Care in Retirement

The average cost of health care in retirement is nearly triple what Americans estimate.

Compliance

New Bill Would Increase Plan Startup Credits for Small Businesses

The legislation would allow businesses with 10 or fewer employees to benefit more from SECURE 2.0 credits when starting a plan.

Most Read

Administration
From Auto-IRAs to PEPs: How Small Employers Can Offer Retirement Savings

Compliance
Bristol-Myers Squibb, State Street Targeted in Lawsuit Over PRT

Administration
No Matter How Small, Businesses Have Retirement Plan Options

MARKET MIRROR

Tuesday, the Dow rose 204.97 points (0.62%) to close at 33,141.38, the Nasdaq rose 121.55 points (0.93%) to close at 13,139.88 and the S&P 500 rose 30.64 points (0.73%) to close at 4,247.68. The Russell 2000 gained 13.62 points (0.82%) to close at 1,679.50, and the FT Wilshire 5000 gained 314.46 points (0.74%) to close at 42,612.15.

The 10-year Treasury note increased 2/32, bringing the yield to 4.828%. The 30-year Treasury bond increased 31/32, bringing the yield to 4.940%.

Compliance

NYC Pension Funds Argue ESG Lawsuit Hinges on ‘Legal Errors’

Parties continue to argue about the plaintiffs’ standing as three New York City public-employee pension funds seek to have the complaint dismissed.

Ask the Experts

Do 403(b) Plan Sponsors Have to Recover Small Overcontributions?

Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.

RESEARCH

Don't miss your chance to participate in PLANSPONSOR's DC Survey!

PLANSPONSOR’s annual DC Survey is closing soon. Be a part of the most widely used benchmarking data for the defined contribution retirement plan marketplace. Eligible plan sponsors that participate in the survey will get a free copy of an industry report that can be useful for plan benchmarking.

SMALL TALK

ON THIS DATE: In 1881, Spanish painter, sculptor, printmaker, ceramicist and theater designer Pablo Picasso was born. In 1936, German and Italy established the Rome-Berlin Axis. In 1940, military officer Benjamin O. Davis, Sr., became the first African American general in the U.S. Army when he was promoted to brigadier general. The same year, collegiate basketball coach Bob Knight, whose 902 career NCAA coaching victories are among the most in men’s basketball history, was born. In 1950, China entered the Korean War on the side of North Korea against South Korea and the United Nations, the United States being the UN’s principal participant. In 1955, the first domestic microwave ovens went on sale. In 1964, the British rock band the Rolling Stones made its first appearance on “The Ed Sullivan Show.” In 1983, the U.S. military, under President Ronald Reagan, invaded the tiny island country of Grenada. In 2002, Irish actor Richard Harris—who was notable for not only his formidable talent in portraying intense characters that established his image but also for conducting his real life in a similar manner—died in London.

Industry Intel Roundup—Featured White Paper

PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring white papers offering key insights and analysis about the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.