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PLANSPONSOR NEWSDASH LOGO September 22nd, 2022
Insight on Plan Design & Investment Strategy Every Weekday
PROVIDER RELATIONSHIPS | DIGITAL RESOURCES
Simplify the Experience
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
Participants
IRS Notice Defines Retirement Plan Tax Distribution Exceptions
Compliance
ERISA Advisory Council Explores Annuity Default Options in DC Plans
Ask the Experts
Who Is Eligible for Special Age 60-63 Catch-up Contributions?
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.
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