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Market & Legal Update

 

Monthly publication highlighting the latest changes in the market and providing timely legal and regulatory updates that may affect your business.

6/2/2023
May 2023 | Market & Legal Update

MARKET: May was a relatively positive month regarding economic data, and quite the mixed bag when it came to market returns as investors were focused on the debt ceiling and inflation. LEGAL: We review provisions of the SECURE 2.0 Act that apply to retirement plans that are not subject to ERISA, including governmental plans (inclusive of tribal governmental plans) and church plans who have not elected to be covered under ERISA.

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5/2/2023
April 2023 | Market & Legal Update

MARKET: April was another positive month for the markets, as the consumer continued to hold up well despite relatively high inflation and rising interest rates. Consumer prices eased to 4.2% in March, slower than the 5.1% rise in February, but still well above the Fed’s target rate of 2%. LEGAL: This month’s legal update is focused on the expanded plan eligibility rules for long-term part-time employees under the SECURE 2.. Act of 2022.

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4/4/2023
March 2023 | Market & Legal Update

MARKET: March was an extremely eventful month for markets following two public addresses from the Federal Reserve, a modest inflation report, and a frightening but contained to-date banking crisis, all of which are intricately connected events. LEGAL: Encouraging Roth contributions has proven to be a favorite legislative strategy largely because Roth contributions are a short-term revenue raiser when compared with traditional tax-deferred contributions.

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3/2/2023
February 2023 | Market & Legal Update

MARKET: Following a difficult 2022 and a promising recovery in January 2023, stocks finished lower for the month, with all three major U.S. indices closing out a volatile February in the red. LEGAL: This month’s update is focused on the provision which expands the ability to self-correct retirement plan failures under the IRS’ correction program.

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2/2/2023
January 2023 | Market & Legal Update

MARKET: While the economy is facing numerous headwinds in 2023 following a rough 2022, markets have remained somewhat resilient with a solid fourth quarter and a good start to the year in January. LEGAL: Get up to speed with the SECURE 2.0 provisions that went into effect as of the Enactment Date or in 2023.

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1/4/2023
December 2022 | Market & Legal Update

MARKET: As December capped the worst year in more than a decade for global equities and bonds, higher interest rates in 2023 may have significant impacts. LEGAL: We have summarized some key 2023 retirement plan compliance requirements and recommended action for plan sponsors.

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12/5/2022
November 2022 | Market & Legal Update

MARKET: Federal Reserve Chairman Jerome Powell signals a potential slowdown in rate increases as inflation pressures show signs of easing from record levels back in June this year. LEGAL: The IRS and the Department of Labor want to make sure that contributions and loan repayments that employees make to their 401(k) and 403(b) plans are deposited on a timely basis.

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11/2/2022
October 2022 | Market & Legal Update

MARKET: October has historically been known for significant market crashes like the one in 1929, 1987 and 2008, but even given all the volatility in the markets this year, surprisingly this October didn’t prove to be as scary. LEGAL: IRS extends amendment deadline to 2025 to adopt CARES Act amendments and provides Hurricane Ian relief.

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10/4/2022
September 2022 | Market & Legal Update

MARKET: Markets continued to decline in September following the Federal Reserve’s assertion of their aggressive stance in Jackson Hole at the end of August. LEGAL: Significance of qualified birth or adoption distribution (QBAD) being added to the SECURE Act and how it can benefit your plan design.

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9/1/2022
August 2022 | Market & Legal Update

MARKET: How inflation and the Federal Reserve’s response to inflation has affected the markets and investors. LEGAL: IRS Extension for Plan Amendment Deadlines and what this means for retirement plans.

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8/2/2022
July 2022 | Market & Legal Update

MARKET: Overall global equity markets advanced higher despite record inflation. LEGAL: Learn about plan compliance for the ERISA Fidelity Bonding Requirements.

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7/5/2022
June 2022 | Market & Legal Update

MARKET: Markets post worst first half of the year since 1970. LEGAL: IRS introduces new pre-audit compliance pilot program.

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6/3/2022
May 2022 | Market & Legal Update

MARKET: Market volatility continues as the U.S. economy declines. LEGAL: IRS extends remote notarization and signature witnessing through December 2022.

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5/3/2022
April 2022 | Market & Legal Update

MARKET: Stocks sell off amid credible risks to the economy. LEGAL: More retirement reform could happen soon.

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4/4/2022
March 2022 | Market & Legal Update

MARKET: Markets advance despite war, record high inflation and rising rates. LEGAL: IRS issues new proposed regulations for required minimum distributions (RMDs).

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3/2/2022
February 2022 | Market & Legal Update

MARKET: Russia’s invasion of Ukraine puts markets on edge. LEGAL: Supreme Court decision on excessive fees offers important reminders for plan fiduciaries.

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2/1/2022
January 2022 | Market & Legal Update

MARKET: Who could have thought we would be missing 2021? LEGAL: The challenges of beneficiary determinations.

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1/5/2022
December 2021 | Market & Legal Update

MARKET: Stocks capped off another banner year amid Covid-19 and rising inflation. LEGAL: Kick-off the new year by marking your calendars with important 2022 compliance requirements and deadlines.

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12/1/2021
November 2021 | Market & Legal Update

MARKET: Omicron variant and Fed policy pivot contributes to markets declining. LEGAL: IRS issues FAQs on re-employed retirees and in-service distributions.

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11/1/2021
October 2021 | Market & Legal Update

MARKET: S&P posts best month in nearly a year. LEGAL: Understanding how to electronically distribute your SPDs.

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