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PLANSPONSOR NEWSDASH LOGO April 3rd, 2023
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Where SECURE 2.0 Comes Up Short
Where SECURE 2.0 Comes Up Short
The 2022 law does far more for high earners than low earners, and many provisions may prove difficult to implement.
Data and Research
Employers Grossly Overestimate Employee Well-Being, Annual Study Shows
Employees’ long-term job satisfaction has trended downward as the gap between employee and employer perception of well-being yawns wider, MetLife found.
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
Monday, the Census Bureau will report construction spending for February. Tuesday, the Census Bureau will report factory orders for February. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report the unemployment rate for March. 
MARKET MIRROR
Friday, the Dow gained 415.12 points (1.26%) to close at 33,274.15, the Nasdaq gained 208.44 points (1.74%) to close at 12,221.91 and the S&P 500 increased 58.48 points (1.44%) to close at 4,109.31. The Russell 2000 gained 34.10 points (1.93%) to close at 1,802.48 and the Wilshire 5000 increased 621.46 points (1.55%) to close at 40,708.41.

The price of the 10-year Treasury note increased 29/32, bringing the yield to 3.471%. The price of the 30-year Treasury bond increased 1 27/32, bringing the yield to 3.653%.

For the week ending March 31, the Dow gained 3.22%, the Nasdaq increased 3.37% and the S&P 500 increased 3.48%. The Russell 2000 gained 3.89% and the Wilshire 5000 finished 3.69% higher.
Benefits
Social Security’s OASI Trust Fund Projected to Fall Short By 2033
The reserves for Social Security’s largest trust fund are expected to become depleted one year earlier than previously projected, the Board of Trustees announced Friday.  
DEALS AND PEOPLE
Retirement Industry People Moves
Lockton appoints Bolander as SVP of regional operations; Sullo joins Earth Finance climate investing practice; Dechert announces McGrath as partner; and more.
SMALL TALK
ON THIS DATE: In 1865, the Confederate capital of Richmond, Virginia was captured and fell to the Union army during the Civil War. In 1922, Joseph Stalin became secretary-general of the Communist Party of the Soviet Union, a position that provided the power base for his dictatorship. In 1948, President Harry S. Truman signed into law George C. Marshall’s post-World War II plan to revive the economies of western and southern European countries to foster democracy in the region. In 1961, comedian and actor Eddie Murphy was born in Brooklyn, New York. In 1968, at an event for the Memphis sanitation workers strike, civil rights activist Martin Luther King, Jr., delivered his Mountaintop Speech; the following day he was assassinated. In 1973, the first handheld mobile telephone call was made by an employee of Motorola, who called AT&T’s Bell Laboratories. In 1996, federal agents in Montana apprehended Ted Kaczynski, a domestic terrorist known as the “Unabomber,” who had killed three people and injured more than 20 with explosives sent through the postal system. In 1998, the Dow Jones industrial average climbed above 9,000 for the first time. In 2000, the Nasdaq set a one-day record when it lost 349.15 points to close at 4,233.68.
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