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April 2nd, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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Administration
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The Math Behind Plan Fee Evaluations
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Determining whether fees are reasonable for participants requires an additional layer of calculation, and some fee elements and allocations make it more complicated than it should be. 
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| Economic Events |
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Construction spending during February was estimated at a seasonally adjusted annual rate of $1,366.7 billion, 1.3% below the revised January estimate of $1,384.5 billion, the Census Bureau reported. The February figure is 6.0% above the February 2019 estimate of $1,289.0 billion. During the first two months of this year, construction spending amounted to $193.5 billion, 8.2% above the $178.8 billion for the same period in 2019.
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| Market Mirror |
Wednesday, the Dow lost 973.65 points (4.44%) to finish at 20,943.51, the NASDAQ closed 339.52 points (4.41%) lower at 7,360.58, and the S&P 500 decreased 114.09 points (4.41%) to 2,470.50. The Russell 2000 dropped 81.11 points (7.03%) to 1,071.99, and the Wilshire 5000 fell 1,188.89 points (4.59%) to 24,711.04.
The price of the 10-year Treasury note increased 29/32, bringing its yield down to 0.607%. The price of the 30-year Treasury bond climbed 2 1/32, decreasing its yield to 1.252%.
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ON THIS DATE: In 1513, near present-day St. Augustine, Spanish explorer Juan Ponce de León came ashore on the Florida coast, and claimed the territory for the Spanish crown. In 1792, Congress passed the Coinage Act to regulate the coins of the United States. The act authorized $10 Eagles, $5 Half Eagles, $2.50 Quarter Eagle gold coins, silver dollars, dollars, quarters, dimes and half-dimes to be minted. In 1877, the first Egg Roll was held on the grounds of the White House in Washington, D.C. In 1902, the first motion picture theatre opened in Los Angeles with the name Electric Theatre. In 1917, Jeannette Pickering Rankin, the first woman ever elected to Congress, took her seat in the U.S. Capitol as a representative from Montana. In 1917, President Woodrow Wilson presented a declaration of war against Germany to Congress. In 1951, U.S. General Dwight Eisenhower assumed command of all allied forces in the Western Mediterranean area and Europe. In 1958, the National Advisory Council on Aeronautics was renamed NASA. In 1987, the speed limit on U.S. interstate highways was increased to 65 miles per hour in limited areas. In 2005, John Paul II, the first non-Italian to hold the position since the 16th century, died. In 2014, the U.S. Supreme Court ruled that limits on the total amount of money individuals can give political candidates and political action committees were unconstitutional.
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