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PLANSPONSOR NEWSDASH LOGO October 4th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Judge Rules in Home Depot’s Favor in ERISA Suit
Judge Rules in Home Depot’s Favor in ERISA Suit
Plaintiffs had alleged that Home Depot did not monitor their retirement plan offerings closely, and that they charged participants excessive fees that damaged their retirement accounts.
Industry Analysis
To the Limit?
Many U.S. workers fall short of saving to the IRS’ allowed maximum contribution amount.
Most Read
Compliance
Senator Cardin Worried SECURE 2.0 Won’t Pass This Year
Investing
Morgan Stanley Expands Robo-Advising Tech with Blooom Purchase
Compliance
Republicans Move to Prevent SEC Climate Disclosure Requirements
ECONOMIC EVENTS
Construction spending during August 2022 was estimated at a seasonally adjusted annual rate of $1,781.3 billion, 0.7% below the revised July estimate of $1,793.5 billion, the Census Bureau reported. The August figure is 8.5% above the August 2021 estimate of $1,641.6 billion. During the first eight months of this year, construction spending amounted to $1,183.8 billion, 10.9% above the $1,067.4 billion for the same period in 2021.
MARKET MIRROR
Monday, the Dow increased 765.38 points (2.66%) to close at 29,490.89, the Nasdaq gained 239.82 points (2.27%) to finish at 10,815.435 and the S&P 500 gained 92.81 points (2.59%) to close at 3,678.43. The Russell 2000 gained 44.15 points (2.65%) to close at 1,708.87 and the Wilshire 5000 increased 907.64 points (2.53%) to close at 36,744.56.

The price of the 10-year Treasury note increased 1 5/32 bringing the yield down to 3.644%. The price of the 30-year Treasury note gained 1 /5/32 bringing the yield down to 3.685%.
EVENTS
Your HSA Questions Answered
Join PLANSPONSOR and industry experts for a webinar October 13 during which you will increase your understanding of health savings accounts by comparing features to those of defined contribution plans, learn how to position HSAs on your menu of benefits, and hear tips for increasing employee engagement with HSAs. Register today. 
SURVEYS
DC Survey Now Open
For more than 20 years, PLANSPONSOR’s annual Defined Contribution Survey has provided benchmarking data for nearly 50 industries/business sectors and for 401(k), 403(b), and other DC plans, as well as nonqualified plans. Represent your industry and plan type by participating, and you’ll receive a free benchmarking report.
SMALL TALK
ON THIS DATE: In 1777, 11,000 Patriots under General George Washington attempted an early morning attack on British General William Howe’s 9,000 British troops at Germantown, Pennsylvania, five miles north of the British-occupied capital city of Philadelphia. In 1895, 21-year-old Englishman Horace Rawlins won the first U.S. Open golf tournament, edging Willie Dunn and others with a 36-hole total of 173 at the Newport, Rhode Island, Golf Club. In 1927, sculpting began on the face of Mount Rushmore in the Black Hills National Forest of South Dakota. It would take another 12 years for the granite images of four of America’s most revered presidents—George Washington, Thomas Jefferson, Abraham Lincoln and Theodore Roosevelt—to be completed. In 1955, the Brooklyn Dodgers won the World Series at last, by beating the New York Yankees 2-0. In 1957, the Soviet Union inaugurated the “Space Age” with its launch of Sputnik—after the Russian word for Traveler—the world’s first artificial satellite. In 1976, Barbara Walters became the first woman co-anchor of the evening news. In 1993, the so-called Battle of Mogadishu in Somalia ended, with a death toll that included 18 U.S. soldiers and hundreds of Somalis; the conflict occurred during a U.S.-led military operation that was part of a wider international humanitarian and peacekeeping effort in the war-torn African country. In 2004, SpaceShipOne reached an altitude of 368,000 feet. It was the first privately built, manned rocket ship to fly in space twice within a two-week window.
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