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PLANSPONSOR NEWSDASH LOGO October 31st, 2024
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Coca-Cola Southwest Faces Lawsuit Over Forfeitures, Target-Date Funds
Coca-Cola Southwest Faces Lawsuit Over Forfeitures, Target-Date Funds
The soda distributor was accused of offering a suite of ‘underperforming’ target-date funds in its 401(k) plan, as well as mismanaging forfeited funds.
Deals and People
Financial Finesse Announces Acquisition of OfColor
OfColor will expand ‘culturally relevant’ content on the Financial Finesse platform.
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
MARKET MIRROR
Wednesday, the Dow fell 91.51 points (0.22%) to close at 42,141.54, the Nasdaq fell 104.82 points (0.56%) to close at 18,607.93 and the S&P 500 fell 19.25 points (0.33%) to close at 5,813.67. The Russell 2000 fell 5.05 points (0.23%) to close at 2,233.04, and the FT Wilshire 5000 Index dropped 174.49 points (0.30%) to close at 58,222.57.

The 10-year Treasury note decreased 4/32, bringing the yield to 4.303%. The 30-year Treasury bond decreased 24/32, bringing the yield to 4.503%.
SURVEYS
2024 Newport / PLANSPONSOR NQDC Plan Trends Survey
Partnering with retirement service provider Newport, we’ve surveyed hundreds of employers about their nonqualified deferred compensation plans. Data reveal the current and emerging trends in plan design, funding and administration, plus areas that potentially need improving.
Benefits
Economists Advocate for New $1,000 Accounts for Newborns
Backers pitched the idea of a universal kick-starter investment account to help address income inequality, during an Aspen Institute financial security event.
SMALL TALK
ON THIS DATE: In 1864, Nevada became the 36th state in the U.S. In 1922, Benito Mussolini became prime minister of Italy; he was the first of Europe’s fascist dictators in the 20th century. In 1926, Harry Houdini, the magician and escape artist, died of peritonitis stemming from a stomach injury. In 1941, after nearly 15 years of work, the Mount Rushmore National Memorial in the Black Hills of South Dakota was completed; the colossal sculpture features the heads of Presidents George Washington, Thomas Jefferson, Theodore Roosevelt and Abraham Lincoln. In 1968, President Lyndon B. Johnson ordered an end to American bombing in North Vietnam. In 2008, author and oral historian Studs Terkel, who chronicled the lives of Americans from the Great Depression to the early 21st century, died in Chicago. In 2020, Scottish-born actor Sean Connery, who was best known for portraying superspy James Bond in a series of films, died at age 90. 
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