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Insight on Plan Design & Investment Strategy Every Weekday
Undocumented Workers Become a Missing Participant Problem
Undocumented Workers Become a Missing Participant Problem
Nothing in ERISA says an undocumented worker cannot participate in a retirement plan, but making a distribution to one could be a problem.
Owens Corning Transfers Some Pension Liabilities
The company cited a decrease in risks and costs as benefits of purchasing the annuity.
Most Read
Defined Benefit Plans May Have New Life
Ask the Experts
Can an Alternate Payee Designate a Beneficiary?
Florida's DeSantis Joins Other GOP Pols in Opposing ‘Woke Capital’
Products, Deals and People
Retirement Industry People Moves
Past industry exec joins ICMA-RC; Prudential Retirement announces multiple executive promotions; Ascensus adds TPA firm to FuturePlan business; and more.
Economic Events
THE ECONOMIC WEEK AHEAD: Tomorrow, the Conference Board will release its Consumer Confidence Index for October. Thursday, the Labor Department will issue its initial claims report. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for October, and the Census Bureau will report about construction spending in September.
Market Mirror
Friday, the Dow climbed 152.53 points (0.57%) to 26,958.06, the NASDAQ closed 57.32 points (0.70%) higher at 8,243.12, and the S&P 500 increased 12.26 points (0.41%) to 3,022.55. The Russell 2000 was up 8.53 points (0.55%) at 1,558.71, and the Wilshire 5000 gained 136.72 points (0.45%) to finish at 30,836.26.The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.799%. The price of the 30-year Treasury bond decreased 6/32, bringing its yield up to 2.290%.WEEK’S WORTH: For the week ending October 25, the Dow was up 0.70%, the NASDAQ climbed 1.90%, and the S&P 500 increased 1.22%. The Russell 2000 gained 1.51%, and the Wilshire 5000 finished 1.33% higher.
PS Coach, Plan Corrections
Navigating RMDs
Sponsors need to know the required minimum distribution rules
Missed RMDs
When a required minimum distribution is not paid on time
Points to Consider When Evaluating TDFs
“Diversification should be happening on all levels," says Jake Tshudy, with SEI Institutional.
Small Talk
ON THIS DATE: In 1636, Harvard College was founded in Massachusetts. The original name was Court of Massachusetts Bay Colony. It was the first school of higher education in America. In 1776, the Battle of White Plains took place during the American Revolutionary War. In 1793, Eli Whitney applied for a patent for his cotton gin. In 1886, the Statue of Liberty was dedicated in New York Harbor by President Grover Cleveland. In 1919, Congress enacted the Volstead Act, also known as the National Prohibition Act. In 1949, President Harry Truman swore in Eugenie Moore Anderson as the U.S. ambassador to Denmark. Anderson was the first woman to hold the post of ambassador. In 1965, the Gateway Arch along the waterfront in St. Louis, Missouri, was completed. In 1998, the Digital Millennium Copyright Act (DMCA) was signed into law by President Bill Clinton.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “What are your plans for Halloween, and will you be dressing in costume?” The majority of responding readers (70.6%) said they will answer the door for trick-or-treaters, and 29.4% indicated they will be taking children trick-or-treating. No one reported they will be attending a social gathering for Halloween, but 5.9% said they are hosting one, and 11.8% are attending a Halloween event. Nearly half (47.1%) of responding readers will not be dressing in costume this Halloween. However, 29.4% will dress in costume while opening the door for trick-or-treaters. Slightly more than 11% will dress in costume while attending a social event, and the same percentage reported they will dress in costume all day. Fewer (5.9%) indicated they will dress in costume at work. Among those who chose to leave comments, one reader has a message about letting children be children on Halloween. Readers reported what they intend to be their “costume” for the day, and different plans than the ones listed in the survey. Editor’s Choice goes to the reader who said: “This year I’m handing out Jello shots for the adults!” Hmmm… wonder where that reader lives? A big thank you to everyone who participated in the survey!
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