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April 1st, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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Editor’s Note
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Don’t Miss an Edition of NewsDash!
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PLANSPONSOR’s newsletters and notifications about events and magazine issues will be coming from new domains soon. Please copy and paste the following domains to be whitelisted: newsletters.plansponsor.com, industry-intel.plansponsor.com, info.issmediasolutions.com and subscriptions.issmediasolutions.com. 
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| Economic Events |
Interest on a 30-year fixed-rate mortgage averaged 4.67% for the week ending March 31, up from last week when it averaged 4.42%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.18%. Interest on a 15-year fixed-rate mortgage averaged 3.83%, up from last week when it averaged 3.63%. A year ago at this time, the 15-year FRM averaged 2.45%.
In the week ending March 26, the advance figure for seasonally adjusted initial claims for unemployment insurance was 202,000, an increase of 14,000 from the previous week’s revised level of 188,000, the Labor Department reported. The four-week moving average was 208,500, a decrease of 3,500 from the previous week’s revised average of 212,000.
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| Market Mirror |
Thursday, the Dow lost 550.46 points (1.56%) to finish at 34,678.35, the Nasdaq closed 221.76 points (1.54%) lower at 14,220.52, and the S&P 500 dropped 72.04 points (1.57%) to 4,530.41. The Russell 2000 decreased 20.94 points (1.00%) to 2,070.13, and the Wilshire 5000 fell 703.03 points (1.52%) to 45,617.40.
The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.340%. The price of the 30-year Treasury bond increased 4/32, bringing its yield down to 2.458%.
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Insights
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Too Much Choice
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Plan sponsors need to make wise choices when it comes to investments—and it doesn’t hurt to get some help.
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Compliance
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Most of Pentegra MEP Lawsuit Clears Dismissal
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A federal court found most of the plaintiffs’ ERISA fiduciary breach claims are sufficiently pled to advance beyond the motion to dismiss stage in the litigation process.
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Products
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Investment Product and Service Launches
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Annexus, SSGA create income-focused TDFs; AIG hands over management of certain assets to BlackRock; and Columbia Threadneedle Investments launches a semiconductor and technology ETF.
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ON THIS DATE: In 1789, the House of Representatives held its first full meeting in New York City. Frederick Muhlenberg of Pennsylvania was elected the first House Speaker. In 1891, the William Wrigley Jr. Company was founded in Chicago. In 1929, Louie Marx introduced the Yo-Yo. In 1931, Jackie Mitchell became the first female in professional baseball when she signed with the Chattanooga Baseball Club. In 1938, the Baseball Hall of Fame opened in Cooperstown, New York. In 1945, U.S. forces invaded Okinawa during World War II. It was the last campaign of the war. In 1953, Congress created the Department of Health, Education and Welfare. In 1954, the U.S. Air Force Academy was formed in Colorado. In 1976, Apple Computer began operations. In 1987, Steve Newman became the first man to walk around the world. The walk was 22,000 miles and took four years. In 2009, Albania and Croatia joined the North Atlantic Treaty Organization (NATO).
And now it’s time for some FRIDAY FUN!
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Just an orangutan and its dog cruising around the park.
This kid spells a word perfectly once he can stop laughing. So cute.
In Wallsend, England, a woman brought a new kitten home and said she was watching it sleep one minute and “the next moment he’d disappeared into thin air.” She said she searched the internet for mama cat purring noises and when she played them, the kitten responded. It was stuck within a bathroom wall, according to UPI. Firefighters were called and were able to rescue the kitten. The news report didn’t mention how the kitten got into the wall in the first place.
I’ve heard of “pet-friendly,” but a hotel in Lexington, Kentucky, is advertising as “plant-friendly.” It’s not an advertising of their climate policies; the Elwood Hotel & Suites has teamed up with the convention and visitors bureau of Lexington to offer special amenities to guests who want to bring their houseplants along. UPI reports that the “World’s First Plant-Friendly Hotel experience,” which kicks off April 8, will offer The Gardener’s Premier Corner Room Package for six king suites “specially chosen for their abundance of plant friendly natural light.” The package also includes greenery provided by Pemberton’s Greenhouses, a complimentary potted succulent, botanical toiletries from Kentucky Soaps & Such and a “tea” for plants served in a pink mug.
In Converse, Texas, police were called about the discovery of what was thought to be skeletal remains near a road. “Upon arrival, they discovered a plastic prop skeleton discarded in a field,” the police department said in a Facebook post, according to UPI. The post said the “remains” were “removed and given a proper burial.”
Wishing everyone a safe and happy weekend!
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