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PLANSPONSOR NEWSDASH LOGO April 11th, 2023
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Data and Research
Target-Date Funds Have Normalized Workers’ Equity Allocations
Target-Date Funds Have Normalized Workers’ Equity Allocations
Extreme and age-inappropriate allocations by workers to equities, of either 100% or nothing, have been solved by the Pension Protection Act of 2006 and TDFs, according to Vanguard paper.
Data and Research
US Workers Increasingly Worried About Retirement Lifestyle Affordability
Rising costs have driven an increase in the rate of Americans who worry they might not be able to afford the lifestyle they want in retirement.
Most Read
Compliance
Humana Inc. Defeats Class Action Claims of Excessive 401(k) Fees
Benefits
Rhode Island Becomes 20th State to Pass Retirement Savings Program
Compliance
Wells Fargo Targeted in New 401(k) Forfeiture Lawsuit
ECONOMIC EVENTS
February sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences, but not for price changes, were $919.2 billion, up 0.1% from the revised January level, the Census Bureau reported. Total inventories were up 12.0% from the revised February 2022 level. The January 2023 to February 2023 percent change was revised from the advance estimate of up 0.2% to up 0.1%.
MARKET MIRROR
Monday, the Dow gained 101.23 points (0.30%) to close at 33,586.52, the Nasdaq fell 3.60 points (0.03%) to close at 12,084.36 and the S&P 500 rose 4.09 points (0.10%) to close at 4,109.11. The Russell 2000 increased 17.98 points (1.02%) to close at 1,772.44 and the Wilshire 5000 increased 89.24 points (0.22%) to close at 40,595.96.The price of the 10-year Treasury note decreased 1/32, bringing the yield to 3.417%. The price of the 30-year Treasury bond decreased 23/32, bringing the yield to 3.631%. 

Compliance
PBGC Provides More Than $400 Million in Supplemental Funding to New York Teamsters
The NYS Teamsters Conference Plan has now received approximately $1.4 billion in total. The PBGC also provided supplemental relief to three other plans.
Benefits
What Does Financial Wellness Mean to You?
People from various parts of the retirement industry share their definitions. 
SMALL TALK
ON THIS DATE: In 1848, Emperor Ferdinand I of Austria confirmed the foundation of the modern state of Hungary. In 1908, Jane Matilda Bolin was born. She later became the first African American woman to earn a law degree from Yale and the first African American woman judge. In 1921, radio station KDKA in Pittsburgh broadcasted the first live sporting event on the radio, a boxing match between Johnny Ray and Johnny Dundee. In 1945, the American Third Army liberated the Buchenwald concentration camp near Weimar, Germany. In 1951, President Harry S. Truman relieved General Douglas MacArthur of his command of United Nations and U.S. forces during the Korean War. In 1961, the trial of Nazi leader Adolf Eichmann began in Jerusalem; eight months later it ended with the only death sentence ever imposed by an Israeli court. In 1970, Apollo 13 was launched from Cape Kennedy—now Cape Canaveral—Florida and although scheduled to be the third lunar landing, the mission was aborted after an oxygen tank exploded en route to the Moon. In 2004, Phil Mickelson won golf’s the Masters, his first major championship in nearly 12 years as a professional golfer.
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