September 22nd, 2022 Insight on Plan Design & Investment Strategy Every Weekday PROVIDER RELATIONSHIPS | DIGITAL RESOURCES Simplify the Experience Give participants the digital resources to engage with their account. Compliance Defendants Move to Dismiss Retirement Account Cyber-Theft Case A total of $750,000 was stolen from a retirement account managed by the defendants—who, the plaintiff alleges, ignored many red flags. Most Read Compliance IRS Releases Tax Inflation Adjustments for 2025 Data and Research Small, Midsize Employers Express Positive Experience Offering Pooled Plans Deals and People Consultant NEPC Sells Majority Stake to Advisory Firm Hightower ECONOMIC EVENTS Existing-home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to the National Association of REALTORS. Month-over-month sales varied across the four major U.S. regions as two regions recorded increases, one was unchanged and the other posted a drop. On a year-over-year basis, however, sales fell in all regions. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, notched a minor contraction of 0.4% from July to a seasonally adjusted annual rate of 4.80 million in August. Year-over-year, sales faded by 19.9% (5.99 million in August 2021). MARKET MIRROR Wednesday, the Dow lost 522.45 points (1.70%) to finish at 30,183.78, the Nasdaq closed 204.86 points (1.79%) lower at 11,220.19, and the S&P 500 decreased 66.00 points (1.71%) to 3,789.93. The Russell 2000 was down 25.35 points (1.42%) at 1,762.16, and the Wilshire 5000 fell 643.49 points (1.67%) to 37,914.99. The price of the 10-year Treasury note was up 3/32, decreasing its yield to 3.527%. The price of the 30-year Treasury bond increased 1 2/32, bringing its yield down to 3.506%. Benefits Maryland Officially Launches State-Run Retirement Program Businesses will only need to update employee and payroll information, while the program handles most of the administrative duties. Products American Century Launches Income Blueprint for Plan Fiduciaries Income Blueprint seeks to help plan fiduciaries implement a process to evaluate and choose in-plan guaranteed income products for their clients. EVENTS What to Expect From a Retirement Plan Adviser Join PLANSPONSOR and a panel of experts for a webinar on September 22 as they discuss what services advisers offer to retirement plans; how plan sponsors determine the role they want their advisers to play; and questions to ask when searching for a plan adviser. Panelists will also talk about the fiduciary roles advisers can take on for the plan and the relationship between advisers and plan providers. SURVEYS Complete the DC Survey 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. ON THIS DATE In 1789, Congress authorized the office of Postmaster General. In 1862, President Abraham Lincoln issued a preliminary Emancipation Proclamation, which sets a date for the freedom of more than 3 million enslaved in the United States and recasts the Civil War as a fight against slavery. In 1961, President John F. Kennedy signed a congressional act that established the Peace Corps. In 1969, Willie Mays hit his 600th career home run. In 1980, a border conflict between Iran and Iraq developed into a full-scale war. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850