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PLANSPONSOR NEWSDASH LOGO October 30th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Rollover Rules Between Different Plan Types
Rollover Rules Between Different Plan Types
Retirement plan sponsors need to understand IRS rules for rollovers and what they should consider before accepting one.
2020 Plan Sponsor of the Year Award Nominations Are Open
PLANSPONSOR has opened the nominating process for the annual PLANSPONSOR Plan Sponsor of the Year and Retirement Plan Adviser of the Year awards. The deadline for the Plan Sponsor of the Year Award nominations is November 8.
Most Read
Compliance
IRS Announces 2020 Contribution and Benefit Limits
Compliance
Congressional Leaders Want SECURE Act Passage in 2019
Data and Research
Rethinking the Idea That There is a Retirement Crisis
Opinions
5 Things to Consider When Selecting TDFs for Your Retirement Plan
A checklist of five things for retirement plan sponsors to consider when choosing target-date funds (TDFs).
SPONSORED BY: Transamerica
Show plan participants how to redefine retirement
Read more
Economic Events
The Conference Board Consumer Confidence Index decreased marginally in October, following a decline in September. The Index now stands at 125.9 (1985=100), down from 126.3 in September. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased from 170.6 to 172.3. The Expectations Index—based on consumers’ short-term outlook for income, business and labor market conditions—declined from 96.8 last month to 94.9 this month.
Market Mirror
Tuesday, the Dow slipped 19.26 points (0.07%) to 27,071.46, the NASDAQ closed 49.14 points (0.59%) lower at 8,276.85, and the S&P 500 was down 2.53 points (0.08%) at 3,036.89. The Russell 2000 was up 5.14 points (0.33%) at 1,577.07, and the Wilshire 5000 decreased 30.51 points (0.10%) to 30,978.76. The prices of the 10-year Treasury note and 30-year Treasury bond both were up 1/32, decreasing their yields to 1.836%, and 2.333%, respectively.
Compliance
$18.1M MIT Fiduciary Breach Lawsuit Settlement Includes RFP Process
Among the non-monetary elements of the settlement is a requirement to conduct a recordkeeping RFP process that will result in a per-participant fee structure.
Ask the Experts
Clergy Distributions That Can Be Treated as Housing Allowance
“Can amounts from a 401(a) or 401(k) church plan distributed to retired clergy be treated as tax-free parsonage (housing) allowance? I thought only 403(b) plans could provide for such an allowance.”
SPONSORED BY: BlackRock
Income reimagined: Building income solutions into default options
62% of DC participants worry about retirement income. Then why do so few take advantage of guaranteed solutions? It may be that offering a solution is only the first step. Our latest paper explores how plan sponsors may need to use behavioral finance, plan design and default options to reframe how participants think about retirement income.
Small Talk
ON THIS DATE: In 1735, John Adams, the second President of the United States, was born in Braintree, Massachusetts. In 1831, escaped slave Nat Turner was apprehended in Southampton County, Virginia, several weeks after leading the bloodiest slave uprising in American history. In 1864, the town of Helena, Montana, was founded by four gold miners who struck it rich at the “Last Chance Gulch.” In 1894, the time clock was patented by Daniel M. Cooper of Rochester, New York. In 1938, Orson Welles’ “The War of the Worlds” aired on CBS radio. The belief that the realistic radio dramatization was a live news event about a Martian invasion caused panic among listeners. In 1953, General George C. Marshall was awarded the Nobel Peace Prize. In 1974, 32-year-old Muhammad Ali became the heavyweight champion of the world for the second time when he knocks out 25-year-old champ George Foreman in the eighth round of the “Rumble in the Jungle,” a match in Kinshasa, Zaire. In 2001, Michael Jordan returned to the NBA with the Washington Wizards after a 3 1/2 year retirement.
WEDNESDAY WISDOM: “He is happiest, be he king or peasant, who finds peace in his home.”—Johann Wolfgang von Goethe, German writer
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