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PLANSPONSOR NEWSDASH LOGO September 7th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Inflation Has Altered Plan Sponsors’ Benefits Spend
Inflation Has Altered Plan Sponsors’ Benefits Spend
The higher cost of employer-sponsored benefits has driven HR executives to get innovative during this year’s open enrollment.
Investing
California Pension Fund Seeks to Halve Exposure to Carbon Emitters
CalSTRS will move 20% of its public equity portfolio to a passive, low-carbon strategy.
Most Read
Compliance
Bills to Nullify the Retirement Security Rule Proposed in Congress
Administration
Dealing with Stress, Burnout in the HR, Benefits Department
Deals and People
BlackRock’s Retirement Head Ackerley Moving to Adviser Role
MARKET MIRROR
Tuesday, the Dow lost 173.14 points (0.55%) to close at 31,145.30, the Nasdaq sagged 85.96 points (0.74%) to finish at 11,544.91 and the S&P 500 sagged 16.07 points (0.41%) to close at 3,908.19. The Russell 2000 dropped 17.43 points (0.96%) to close at 1,792.32 and the Wilshire 5000 dwindled 181.28 points (0.46%) to end the day at 38,999.14.

The price of the 10-year Treasury note decreased 1 24/32, bringing the yield up to 3.346%. The price of the 30-year Treasury bond decreased 2 28/32, increasing the yield to 3.498%.
Compliance
Hearing Scheduled, Comment Period Extended on QPAM Exemption Proposal
The comment period of the DOL’s proposed amendment was scheduled to expire in late September, but the regulator says it will now accept comments through mid-November.
Metro Bank Founder, Wife Sued by DOL Over Profit-Sharing Plan Losses
The lawsuit suggests Vernon and Shirley Hill invested as much as 70% of a profit-sharing plan’s assets in the stock of Metro Bank PLC, where Vernon Hill was the founder and chairman.
SURVEYS
DC Survey Now Open
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.
SMALL TALK
ON THIS DATE: In 1776, during the Revolutionary War, the American submersible craft Turtle attempted to attach a time bomb to the hull of British Admiral Richard Howe’s flagship Eagle in New York Harbor. It was the first use of a submarine in warfare. In 1813, the United States got its nickname, Uncle Sam. The name is linked to Samuel Wilson, a meat packer from Troy, New York, who supplied barrels of beef to the U.S. Army during the War of 1812. In 1822, Brazil declared its independence from Portugal. In 1940, 300 German bombers raided London, in the first of 57 consecutive nights of bombing. This bombing “blitzkrieg” (lightning war) would continue until May 1941. In 1977, President Jimmy Carter and Panamanian dictator Omar Torrijos signed a treaty agreeing to transfer control of the Panama Canal from the U.S. to Panama at the end of the 20th century. In 1979, ESPN, the Entertainment and Sports Programming Network, debuted on cable TV. In 1984, American Express Co. issued the first of its Platinum charge cards. In 1996, actor and hip-hop recording artist Tupac Shakur was shot several times in Las Vegas after attending a boxing match; he died in a hospital several days later. In 1999, Viacom Inc. announced that it had plans to buy CBS Corp. In 2001, Barry Bonds of the San Francisco Giants became only the fifth player in Major League Baseball history to hit 60 home runs in a season.
Industry Intel Roundup—Featured Webinars
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
SPONSORED BY: Inspira Financial | May 21, 2024
The growing value of HSAs for every generation
September 19, 2024
Financial Wellness
Plan sponsors, advisers and policy experts will offer suggestions for how best to define and measure the financial wellness of participants and drive financial confidence. The panel will also review how they evaluate the myriad new offerings appearing as a result of the voluntary benefits provisions of SECURE 2.0. Attendees will come away with tangible metrics for determining which programs will offer the most useful and valuable programs for their employees.
December 12, 2024
Plan Benchmarking
How do plan sponsors determine the right goals for their plans or measure plan success? What tools are available to benchmark retirement plans? What should plans be measuring and how often? What kinds of actions or improvements can measurements drive? These questions and more will be answered in PLANSPONSOR’s final editorial webinar of 2024.
SPONSORED BY: Allianz Life Insurance Company of North America | April 30, 2024
Retirement Income Roundtable
Growing concerns around retirement security have become increasingly prevalent in recent years. With low defined contribution plan account balances and economic uncertainties, plan participants are understandably worried about their financial future. Join PLANSPONSOR for a roundtable discussion in partnership with Allianz Life Insurance Company of North America (Allianz) during which industry professionals will share their insights on the following topics: • Recent research regarding plan participant attitudes towards retirement income • The importance of retirement income solutions in DC plans • Common myths and misconceptions about annuities and other income solutions • Guidance for identifying and implementing retirement income strategies and solutions During this event, speakers will provide valuable information and knowledge to help DC plan sponsors make informed decisions regarding retirement income for their plan. This content does not apply in the state of New York. Allianz Life Insurance Company of North America is not affiliated with PLANSPONSOR Magazine. For institutional use only – not for use with the public.
SPONSORED BY: Corebridge Financial | April 25, 2024
Constructing Retirement Paychecks – 7 steps for employers to help employees
Many employees look forward to a well-earned retirement. Unfortunately, many are going to find they are not as financially prepared as they are physically and mentally prepared for the realities of retirement. It’s shocking when their employer paycheck stops. Now, each employee is on the hook to construct their own retirement paycheck. For the next 20, 25 or 30+ years. That is a tall order. Most people struggle with the intricacies of dealing with so many different types of accounts and investments. They don’t understand the complex rules for retirees. And they don’t know where to turn to get clear, concise, correct information. In short, employees need help from their trusted employer to build their retirement paycheck. How prepared are you to help answer employees’ questions such as: • How can employees stretch their savings long enough to pay for retirement? • When should employees start pensions, Social Security, and annuity payouts? • Why is Medicare so different from employer health insurance? Employees are raising their hands for help. Can you help more employees become more successful retirees? In this session, our guest speaker will cover 7 practical steps employers can take to help prepare employees at every age to construct a paycheck in retirement.
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