NewsDash – October 30, 2024

October 30th, 2024
Insight on Plan Design & Investment Strategy Every Weekday

Data and Research

Public Sector Employees Fear Having Insufficient Funds in Retirement

Workers surveyed in a new MissionSquare report expressed a lack of confidence in their employer-sponsored plans, as well as concerns about emergency savings.

DATA AND RESEARCH

Plan Sponsors May Be Paying Too Much in DC Plan Fees

Some 80% of companies were spending more than efficient pricing for 401(k) and 403(b) plans, Abernathy Daley 401k Consultants survey finds.

Most Read

Compliance
Lawmakers Introduce Bill to Simplify Form 5500 Reporting

Benefits
Plan Sponsors Warm Up to Super Catch-Up

Benefits
Retirement Account Balances Often 'Are Far Too Low' For a Secure Retirement

MARKET MIRROR

Tuesday, the Dow fell 154.52 points (0.36%) to close at 42,233.05, the Nasdaq rose 145.56 points (0.78%) to close at 18,712.75 and the S&P 500 rose 9.40 points (0.16%) to close at 5,832.92. The Russell 2000 fell 5.98 (0.27%) to close at 2,238.09, and FT Wilshire 5000 Index rose 88.63 points (0.15%) to close at 58,397.06.

The 10-year Treasury note increased 2/32, bringing the yield to 4.257%. The 30-year Treasury bond increased 5/32, bringing the yield 4.501%.

Benefits

Biden Administration Stresses SECURE 2.0 and Financial Inclusion

Treasury Department report includes a strong focus on implementing programs like the Saver’s Match.

Ask the Experts

Which Long-Term, Part-Time Employees Can Be Excluded From a 403(b) Plan?

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

SMALL TALK

ON THIS DATE: In 1905, Emperor Nicholas II issued the October Manifesto, bringing the end of unlimited autocracy in Russia and ushering in an era of constitutional monarchy. In 1938, Orson Welle’s radio dramatization of H.G. Wells’s “War of the Worlds” was broadcast, causing great alarm—though reports of nationwide panic were unfounded—as some listeners feared a genuine invasion from Mars. In 1961, the Soviets detonated Tsar Bomba over Novaya Zemlya island in the Artic Ocean; the largest nuclear weapon ever set off, it produced the most powerful human-made explosion ever recorded. In 1974, Muhammad Ali knocked out George Foreman in the “Rumble in the Jungle,” regaining the world heavyweight boxing title. In 1995, voters in Quebec narrowly defeated a referendum that proposed sovereignty for the province within a new economic and political partnership with the rest of Canada. In 2003, basketball player LeBron James, who was drafted directly out of high school, made his NBA debut with the Cleveland Cavaliers. In 2018, crime boss Whitey Bulger—who, as head of the Boston-area Winter Hill Gang was a leading figure in organized crime from the late 1960s to the mid-1990s—was killed by fellow inmates while in prison.

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.