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PLANSPONSOR NEWSDASH LOGO April 17th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Study Shows State-Built Retirement Programs Complement Private Plans
Study Shows State-Built Retirement Programs Complement Private Plans
New state-facilitated initiatives may boost private sector plans, not crowd them out, a Pew analysis of federal data shows.
Benefits
Threat of Social Security Depletion Emphasizes Importance of HSAs, Proponents Say
Because of rising health care costs and the predicted insolvency of Social Security, experts tout HSAs as a powerful tool to save up for health care expenses.  
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
Ask the Experts
What Records Should ERISA Plans Retain?
ECONOMIC EVENTS
U.S. retail and food services sales for March were $691.7 billion, down 1.0% from the previous month, the Census Bureau reported.

Tuesday, the Census Bureau will report new privately-owned housing starts for March. Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the National Association of Realtors will report existing home sales for March. 
MARKET MIRROR
Friday, the Dow lost 143.22 points (0.42%) to close at 33,886.47, the Nasdaq lost 42.81 points (0.35%) to close at 12,123.47 and the S&P 500 lost 8.58 points (0.21%) to close at 4,137.64. The Russell 2000 decreased 15.53 points (0.86%) to close at 1,781.15 and the Wilshire 5000 decreased 107.62 points (0.26%) to close at 40,870.25.

The price of the 10-year Treasury note decreased 28/32, bringing the yield to 3.520%. The price of the 30-year Treasury bond decreased 31/32, bringing the yield to 3.740%.

For the week ending April 14, the Dow gained 1.20%, the Nasdaq increased 0.29% and the S&P 500 increased 0.79%. The Russell 2000 gained 1.52% and the Wilshire 5000 finished 0.86% lower.
DEALS AND PEOPLE
Retirement Industry People Moves
Rugel joins MassMutual as head of operations; BNP Paribas promotes José Placido to CEO and Jean-Yves Fillion to vice chairman; and more.
Benefits
Financial Wellness By the Numbers
A review of how many recordkeepers are accommodating wellness offerings on their platforms, what kinds of programs are available and who is providing them.
EVENTS
HSA Conference
Gain a better understanding of health savings accounts, how to determine employees’ needs and how to evaluate the impact on the overall benefits spend. Join us April 19 – 20 for the virtual 2023 HSA Conference.
SMALL TALK
ON THIS DATE: In 1790, printer, publisher, author, inventor, scientist and diplomat Benjamin Franklin, died at age 84. In 1895, the Treaty of Shimonoseki concluded the first Sino-Japanese War, which ended in China’s defeat. In 1947, the Brooklyn Dodgers’ Jackie Robinson executed a bunt for his first Major League Baseball hit. In 1951, Mickey Mantle made his Major League Baseball debut for the New York Yankees. In 1961, Cuban leader Fidel Castro’s forces repelled the Bay of Pigs invasion, which was led by recent Cuban exiles and financed by the U.S. government during the Cold War. In 1964, the Ford Mustang was officially unveiled by Henry Ford II at the World’s Fair in Flushing Meadows, New York. In 1970, the Apollo 13 command module—carrying astronauts James A. Lovell, Jr., Fred W. Haise, Jr. and John L. Swigert, Jr.—entered Earth’s atmosphere and splashed down, ending one of the tensest chapters in space history; four days earlier an oxygen tank had exploded, threatening the lives of the three astronauts. In 1983, author Alice Walker won the Pulitzer Prize for fiction for her book The Color Purple.
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