PLANADVISERdash – May 3, 2023

Weekday news and analysis for retirement plan advisers

Wednesday, May 03, 2023

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Do Small Business Owners Need Retirement Advisers Too?

PA-050223-Small Business Owners-1388303168-web

Amassing sufficient retirement income and the impact of taxes on retirement savings are small business owners’ top concerns.

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PGIM Takes Majority Stake in Direct Lender to Boost Alternative Offerings

The firm’s investment in Deerpath Capital Management comes as institutional and private investors look to alternatives for returns amid volatile markets.

Today’s Most Read

1.	PLANADVISER'S 2025 Retirement Plan Adviser of the Year Winners
2.	Lawsuit Filed Against TIAA Alleging Mismanagement of Employee Retirement Funds
3.	As Longevity Increases, Retirement Planning Struggles to Keep Up

LIMRA: Annuities Break Another Record in Q1, on Track for Record ’23

New PGIM research also signals a potentially larger market for the guaranteed income product.

Pensionmark Hires Compliance Head To Help With Acquisition Push

Jonathan Curley, a former RIA, will perform due diligence on firms Pensionmark is looking to acquire.

Practice Progress Webinar: DCIO

Join PLANADVISER and industry experts on Thursday, May 25, for a discussion about the future of DCIO firms and strategies, the important role partnerships can play and how some firms are assigning more specialists to a relationship, serving clients at all levels.

Market Mirror

Tuesday, the Dow fell 367.17 points (1.08%) to close at 33,684.53, the Nasdaq fell 132.09 points (1.08%) to close at 12,080.51 and the S&P 500 fell 48.29 points (1.16%) to close at 4,119.58. The Russell 2000 dropped 37.10 points (2.10%) to close at 1,732.11 and the Wilshire 5000 lost 518.49 points (1.26%) to close at 40,533.90.

The price of the 10-year Treasury note increased 1 2/32, bringing the yield to 3.429%. The price of the 30-year Treasury bond increased 1 29/32, bringing the yield to 3.713%.

Industry Intel Roundup Featured Webinars

PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by or featuring experts in the industry. The content was created to supply actionable insights to retirement plan advisers regarding client service and practice management.

Sponsored by Commonwealth | June 10, 2025

The 4-1-1(k): A SECURE 2.0 Provision’s “Grand” Impact on Emergency and Retirement Savings

How big of a difference can $1K make? For retirement plan engagement, the answer could depend on how well RPAs and recordkeepers understand and communicate the relationship between short-term and long-term savings to plan sponsors and their benefit-eligible employees. Under the SECURE 2.0 Act, employees can withdraw up to $1,000 once a year from their traditional 401(k) retirement accounts for self-identified emergencies, without paying the 10% early withdrawal tax. Research and thought leadership from Commonwealth, BlackRock’s Emergency Savings Initiative, Compass Financial Partners, a Marsh & McLennan Agency LLC Company, and Voya Financial sheds light on the wide-ranging needs of employees in a geographically diverse workforce, and how a suite of emergency savings and liquidity options can best serve workers, and where the new provision fits into those options. This webinar will: ● Dive into the impacts of SECURE 2.0’s $1K withdrawal provision on retirement plan engagement ● Share the RPA and recordkeeper's points of view on the implementation and impact of emergency savings benefits ● Provide tangible action steps for attendees to consider adopting a proactive provision promotion approach for their teams All views and opinions expressed by panelists are their own and are not intended to be those of sponsoring or partner organizations.