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Insight on Plan Design & Investment Strategy Every Weekday
Bitcoin As a Retirement Plan Investment?
Bitcoin As a Retirement Plan Investment?
The cryptocurrency is legally permissible as a 401(k) investment under ERISA, but some plan sponsors may have questions about whether it is prudent.
ERISA Examination
Fiduciary Duties Carry On
When it comes to following best practices, it’s business as usual.
Most Read
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
2021 Recordkeeping Survey
Data and Research
4% Withdrawal Rule Squeezed by Low Returns
Economic Events
Construction spending during July was estimated at a seasonally adjusted annual rate of $1,364.6 billion, 0.1% above the revised June estimate of $1,362.8 billion, the Census Bureau reported. The July figure is 0.1% below the July 2019 estimate of $1,366.0 billion. During the first seven months of this year, construction spending amounted to $792.6 billion, 4.0% above the $761.9 billion for the same period in 2019.
Market Mirror
Tuesday, the Dow gained 215.61 points (0.76%) to finish at 28,645.66, the NASDAQ closed 164.21 points (1.39%) higher at 11,939.67, and the S&P 500 increased 26.34 points (0.75%) to 3,526.65. The Russell 2000 was up 16.71 points (1.07%) at 1,578.58, and the Wilshire 5000 climbed 326.23 points (0.91%) to 36,133.88.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 0.673%. The price of the 30-year Treasury bond increased 1 3/32, bringing its yield down to 1.420%.
Ask the Experts
Does the RMD Age Change Affect Rules for Special Catch-Up in 457 Plans?
“We are a public university that sponsors both a 403(b) and 457(b) plan. For the special three-year catch-up election permitted in our 457(b) plan, I realize that the election is limited to the three calendar years prior to attainment of the plan’s normal retirement age—age 70.5 in our plan, which we understood was the maximum retirement age that we could implement. But, given the recent changes under the SECURE Act, could we increase our plan’s normal retirement age to 72?”
Data and Research
Job Opportunities Are Available to Older Workers—But at Lower Pay
These opportunities also do not tend to offer benefits.
Many Focus on Saving for Retirement Over Paying Off Debt
Some of the same people say they plan to work in retirement, and they may have to if they don’t manage their debt.
Small Talk
ON THIS DATE: In 1789, the U.S. Treasury Department was established. In 1864, during the U.S. Civil War, Union forces led by Gen. William T. Sherman occupied Atlanta following the retreat of the Confederates. In 1945, aboard the USS Missouri in Tokyo Bay, Japan formally surrendered to the Allies, bringing an end to World War II. In 1945, Ho Chi Minh declared the independence the Democratic Republic of Vietnam. In 1969, America’s first automatic teller machine (ATM) made its public debut at Chemical Bank in Rockville Center, New York. In 1992, the U.S. and Russia agreed to a joint venture to build a space station.
WEDNESDAY WISDOM: “I don’t think of all the misery but of the beauty that still remains.”—Anne Frank
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