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PLANSPONSOR NEWSDASH LOGO September 10th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Options to Help Participants Avoid Tapping Into Retirement Savings
Options to Help Participants Avoid Tapping Into Retirement Savings
Plan sponsors can share with participants other options to consider before taking a DC plan loan or withdrawal.
Deals and People
MassMutual Points to Scale as Reason for Empower Deal
The recordkeeper also notes that fee compression is largely driving the ongoing industry consolidation.
Most Read

2020 PLANSPONSOR National Conference

2020 Recordkeeping Survey

2019 Recordkeeping Survey
Market Mirror
Wednesday, the Dow gained 439.58 points (1.60%) to finish at 27,940.47, the NASDAQ closed 293.87 points (2.71%) higher at 11,141.56, and the S&P 500 increased 67.12 points (2.01%) to 3,398.96. The Russell 2000 was down 8.82 points (0.57%) at 1,526.48, and the Wilshire 5000 climbed 689.83 points (2.03%) to 34,659.01.

The price of the 10-year Treasury note was down 3/32, increasing its yield to 0.702%. The price of the 30-year Treasury bond decreased 9/32, bringing its yield up to 1.458%.
Compliance
IRS Clarifies SECURE Act Birth and Adoption Distribution Rules
Qualified birth or adoption distributions have been permissible since January under the SECURE Act, but more specific guidance on how they should be treated has only just been published by the IRS.
Administration
DB Plans Can Expect Continued Funded Status Issues
The solutions to manage funded status differ for public and corporate plans.
Small Talk
ON THIS DATE: In 1608, English adventurer John Smith was elected council president of Jamestown, Virginia—the first permanent English settlement in North America. In 1794, America’s first non-denominational college was chartered. Blount College later became the University of Tennessee. In 1813, the first defeat of a British naval squadron occurred in the Battle of Lake Erie during the War of 1812. The leader of the U.S. fleet sent the famous message “We have met the enemy, and they are ours” to General William Henry Harrison. In 1846, Elias Howe received a patent for his sewing machine. In 1913, the Lincoln Highway opened. It was the first paved coast-to-coast highway in the U.S. In 1921, the Ayus Autobahn in Germany opened near Berlin. The road is known for its nonexistent speed limit. In 1953, Swanson began selling its first “TV dinner.” In 1963, 20 black students entered public schools in Alabama at the end of a standoff between federal authorities and Alabama governor George C. Wallace. In 1998, Mac Davis received a star on the Hollywood Walk of Fame. In 2002, the “September 11: Bearing Witness to History” exhibit opened at the Smithsonian’s National Museum of American History. In 2002, Switzerland became the 190th member of the United Nations. In 2008, scientists successfully flipped the switch for the first time on the Large Hadron Collider (LHC) at the European Organization for Nuclear Research (CERN) lab in Geneva. The LHC is used to test particle physics theories.
SURVEY SAYS: A recent survey found the amount of time Americans spent watching TV in the second quarter of this year, when most of the country was experiencing stay at home orders due to COVID-19, increased over last year. This week, I’d like to know, did the effects of COVID increase your TV viewing time. If you had extra time on your hands and didn’t increase TV viewing, what other activities did you do?You may respond to this week’s survey by 6 p.m. Pacific time today.
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