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PLANSPONSOR NEWSDASH LOGO September 24th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Administration
PSNC 2020: Duties With Regard to Annuities
The momentum for offering annuities to DC plan participants is growing, and plan sponsors need to know their responsibilities and choices.
Compliance
PSNC 2020: Preston Rutledge’s Inside View of the DOL
As the nation’s top retirement and health plan regulator, Preston Rutledge oversaw an agency of more than 800 employee benefits professionals in offices throughout the United States.
Most Read
Compliance
Lessons From a Rare ERISA Excessive Fee Suit Dismissal
Administration
Consider Who Is Paying When Benchmarking Retirement Plan Fees
Compliance
Social Security Announces COLA for 2021
SPONSORED BY: UMB Healthcare Services
Employers Hold the Key to Financial Well-Being in the Age of COVID-19
By Phil Mason
Market Mirror
Wednesday, the Dow dropped 525.05 points (1.92%) to 26,763.13, the NASDAQ fell 330.65 points (3.02%) to 10,632.99, and the S&P 500 lost 78.65 points (2.37%) to finish at 3,236.92. The Russell 2000 closed 45.50 points (3.04%) lower at 1,451.46, and the Wilshire 5000 plunged 842.69 points (2.48%) to 33,167.11.

The price of the 10-year Treasury note was unchanged, with its yield down to 0.675%. The price of the 30-year Treasury bond was up 1/32, decreasing its yield to 1.423%.
Compliance
PSNC 2020: Legislative and Regulatory Update Part II
Experts explained regulations and legislation from Washington, D.C., as well as what employers can do if they ever face ERISA litigation.
Benefits
PSNC 2020: Addressing Employees’ Student Loan Debt
More employers are helping workers restructure loans, and some are even repaying the loans directly.
PSNC 2020: Creating a Culture of Health
A panel sponsored by Fidelity discussed building confidence when navigating the health care system.
Small Talk
ON THIS DATE: In 1789, the Judiciary Act was passed by Congress and signed by President George Washington, establishing the Supreme Court of the United States as a tribunal made up of six justices who were to serve on the court until death or retirement. That day, President Washington nominated John Jay to preside as chief justice, and John Rutledge, William Cushing, John Blair, Robert Harrison and James Wilson to be associate justices. In 1938, Don Budge became the first tennis player to win all four of the major titles when he won the U.S. Tennis Open. He had already won the Australian Open, the French Open and the British Open. In 1957, President Dwight Eisenhower sent federal troops to Little Rock, Arkansas, to enforce school integration. In 1960, the first nuclear powered aircraft carrier was launched. The USS Enterprise set out from Newport News, Virginia. In 1964, President Lyndon B. Johnson received a special commission’s report on the assassination of President John F. Kennedy, which had occurred on November 22, 1963, in Dallas, Texas. In 1996, the United States, represented by President Bill Clinton, and the world’s other major nuclear powers signed a Comprehensive Test Ban Treaty to end all testing and development of nuclear weapons. In 1998, the Federal Reserve released into circulation $2 billion in new harder-to-counterfeit $20 bills. In 2003, Anthony Hopkins received a star on the Hollywood Walk of Fame.
SURVEY SAYS: During the 2020 PLANSPONSOR National Conference this week, the competition for employee money was discussed. This week, I’d like to know, have you ever reduced your retirement plan deferrals because an increase in health care benefit costs reduced your take-home pay? Have other employees in your company done this? You may respond to this week’s survey by 6 p.m. Pacific time today.
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