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Weekday news and analysis for retirement plan advisers
Wednesday, June 02, 2021
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Unintended Tax Consequences Arise When the RMD Date Shifts
The concept of extending the age at which one must begin drawing tax-sheltered savings as income in retirement is like candy, one source says: Everybody loves it, but too much of it can be a bad thing.
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Upcoming Webinar: DCIO Evolution
Join us TODAY at 2 p.m. EST as we discuss the past, present and future of the defined contribution investment only (DCIO) marketplace.
Today’s Most Read
1. 2023 PLANADVISER Top Retirement Plan Advisers
2. 2023 PLANADVISER Top Retirement Plan Advisers
3. Why 529 Education Savings Plans Are More Valuable Than Ever
Sponsored by Putnam
A new lens on target-date strategies
There’s more to a glide path than a simple fixed-income and equity allocation.
Lowe’s Reaches Settlement in 401(k) ERISA Case
The $12.5 million agreement excludes co-defendant Aon Hewitt.
U.S. Asks Supreme Court to Weigh In on Excessive Fee Claims
U.S. attorneys argue the Court of Appeals’ decision in a case against Northwestern University is incorrect and conflicts with decisions made by the 3rd and 8th Circuits in similar cases.
529 Awareness Is Low—And Stagnant
Despite a lack of knowledge about the accounts, experts say the potential for growth in these products is high.
Market Mirror Market Mirror Graph

Tuesday, the Dow closed 45.86 points (0.13%) higher at 34,575.31, the Nasdaq decreased 12.26 points (0.09%) to 13,736.48, and the S&P 500 was down 2.07 points (0.05%) at 4,202.04. The Russell 2000 gained 25.77 points (1.14%) to finish at 2,294.74, and the Wilshire 5000 increased 49.10 points (0.11%) to 44,015.46.

 

The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.613%. The price of the 30-year Treasury bond decreased 27/32, bringing its yield up to 2.290%.
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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