PLANADVISERdash – April 8, 2021

Weekday news and analysis for retirement plan advisers

Wednesday, April 07, 2021

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Data & Research

Many Near-Retirees Don’t Understand Social Security Benefits

Thirty-five percent of near-retirees, those between the ages of 55 and 65, failed a basic knowledge quiz about Social Security benefits that MassMutual administered. Another 18% earned a D on the graded quiz, and mere 3% got an A+ by answering all 12 true/false statements correctly.

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FSI Expands Health Care for Member Advisers and Staff

CoveredAdvisor2.0 is delivered in collaboration with Decisely Insurance Services and Humana.

Today’s Most Read

1.	Experts Predict Major Growth in Retirement Coverage, Benefits
2.	Why 529 Education Savings Plans Are More Valuable Than Ever
3.	Advisers Recommend Fiduciary Outsourcing Services, Mostly for Small Plans

RightBRIDGE Rollover Analysis Integrated With Retirement Learning Center

The partnership gives RightBRIDGE users access to detailed employer-sponsored plan data.

Sponsored by Test

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Data Points: Customization and the QDIA

Five years ago, more than 10% of plans that offered managed accounts used them as a default. Today? Our proprietary data shows usage of default managed accounts has been cut in half.

Market Mirror

Wednesday, the Dow was up 16.02 points (0.05%) at 33,446.26, the Nasdaq was down 9.54 points (0.07%) at 13,688.84, and the S&P 500 increased 6.01 points (0.15%) to 4,079.95. The Russell 2000 closed 36.10 points (1.60%) lower at 2,223.05, and the Wilshire 5000 decreased 36.78 points (0.09%) to 42,778.86.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.665%. The price of the 30-year Treasury bond decreased 28/32, bringing its yield up to 2.356%.

Industry Intel Roundup
Featured Webcasts

PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts 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.

SECURE 2.0 Webinar Series: New Plan Creation Under SECURE 2.0

If the SECURE 2.0 Act—which builds on the Setting Every Community Up for Retirement Enhancement Act of 2019—works as expected, new 401(k) and 403(b) retirement plans will proliferate in the years ahead. The legislation provides tax credits for small businesses that start a retirement plan for their employees; in 2025, it will mandate that those plans utilize automatic enrollment and automatic escalation for qualified employees. These are just some of the provisions whereby Congress is targeting its overarching goal of addressing the nation’s retirement savings gap. Join PLANSPONSOR, PLANADVISER and a panel of industry experts as we discuss: • SECURE 2.0 provisions related to the creation of new retirement plans; • Why existing plan sponsors should care about the rules for newly created plans; and • How SECURE 2.0 can assist advisers and employers in closing the retirement plan coverage gap.

SECURE 2.0 Webinar Series: SECURE 2.0 and Financial Wellness Benefits

SECURE 2.0—which expands on the Setting Every Community Up for Retirement Enhancement Act of 2019—has gotten attention for its retirement plan incentives and mandates. But the legislation was also designed to attack some of the biggest financial stresses for everyday Americans, such as by allowing for matching contributions toward student loan debt and encouraging emergency saving. These are just two new benefits in the law that employers may use to help boost employees’ overall financial wellness and facilitate saving for retirement. Join PLANSPONSOR, PLANADVISER and a panel of industry experts as they review: • SECURE 2.0 provisions related to employee financial wellness; • Ways plan sponsors can implement new benefits, and how advisers can help them; and • How to determine the best benefits for a plan sponsor’s unique employee group.

SECURE 2.0 Webinar Series: SECURE 2.0 Has Passed. Now What?

At the close of last year, Congress passed and President Joe Biden signed the SECURE 2.0 Act of 2022, which builds upon the most significant retirement plan legislation in more than a decade, the Setting Every Community Up for Retirement Enhancement Act of 2019, or SECURE Act. The new law contains 90 provisions aimed at modernizing the retirement system, encouraging creation of new retirement plans and easing administrative requirements, not to mention prompting plan participants to increase what they save. Most retirement plans will be affected in some way, including those for lower-income workers and small business staff. Join PLANSPONSOR, PLANADVISER and industry experts as we discuss: • The impact many provisions will have on plan sponsors and participants; • A timeline for the issuance of new rules and regulation effective dates; and • What actions plan sponsors must take now to comply with the law.

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