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Weekday news and analysis for retirement plan advisers
Tuesday, October 11, 2022
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Compliance
IRS Issues Update on Required Minimum Distribution Rule
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The guidance clarifies that people who did not take RMDs in 2021 and 2022 will not be responsible for the excise tax.
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Compliance
Market Downturn May Drive Millennials to Cash Out Retirement Plans
New retirement research shows that plan participants are increasingly growing frustrated in today’s market. 
Today’s Most Read
1. Wait, SECURE 2.0 Might Not Pass?
2. Asset Managers Scramble to Offer In-Demand Investment Vehicles
3. 401(k) Robo-Adviser Blooom Shuts Services, Sells Tech to Morgan Stanley
ERISA Suit Brought Against Quanta Services
401(k) participants brought the suit, alleging that Quanta kept certain underperforming funds in its plan menu.
Retirement Clearinghouse Partners with Fidelity, Vanguard and Alight on Auto-Portability
The Portability Services Network seeks to make it easier for participants to transfer retirement assets when they change plans.
PLANSPONSOR’s DC Survey Is Open
PLANSPONSOR’s annual DC Survey is the most widely used benchmarking data for the defined contribution retirement plan marketplace. Encourage your clients to participate in the survey, and they will get a free copy of an industry report useful in your plan benchmarking conversations with them. 
Market Mirror Market Mirror Graph

Monday, the Dow lost 93.91 points (0.325) to close at 29,202.88, the Nasdaq decreased 110.30 points (1.04%) to finish at 10,542.102 and the S&P 500 lost 27.27 points (0.75% to close at 3,612.39. The Russell 2000 decreased 10.23 points (0.60%) to close at 1,691.92 and the Wilshire 5000 lost 293.52 points (0.81%).

 

The price of the 10-year Treasury note was unchanged and the yield increased to 3.890%. The price of the 30-year Treasury note was unchanged and the yield increased to 3.846%.

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