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April 4th, 2025
Insight on Plan Design & Investment Strategy Every Weekday
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Compliance
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PLANSPONSOR Roadmap: A CAA Overview
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Complying with the Consolidated Appropriations Act requires health plan fiduciaries to closely monitor the middlemen involved in administering their health plans. 
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| ECONOMIC EVENTS |
In the week ending March 29, the advance figure for seasonally adjusted initial jobless claims was 219,000, a decrease of 6,000 from the previous week’s revised level of 225,000, the Department of Labor reported. The four-week moving average was 223,000, a decrease of 1,250 from the previous week’s revised average of 224,250.
Interest on a 30-year fixed-rate mortgage averaged 6.64% for the week ending April 3, down from last week when it averaged 6.65%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 6.82%. Interest on a 15-year fixed-rate mortgage averaged 5.82%, down from last week when it averaged 5.89%. A year ago at this time, the 15-year FRM averaged 6.06%.
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| MARKET MIRROR |
Thursday, the Dow fell 1,679.39 points (3.98%) to close at 40,545.93, the Nasdaq fell 1,050.44 points (5.97%) to close at 16,550.61 and the S&P 500 fell 274.45 points (4.84%) to close at 5,396.52. The Russell 2000 fell 134.82 points (6.59%) to close at 1,910.55, and the FT Wilshire 5000 Index fell 2,889.60 points (5.10%) to close at 53,714.09.
The 10-year Treasury note increased 29/32, bringing the yield to 4.039%. The 30-year Treasury bond increased 2 26/32, bringing the yield to 4.476%.
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PRODUCTS
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Product & Service Launches
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Voya expands its target-date solutions with a CIT blend series; Congruent acquires IPX Retirement Edge; Vanguard launches a short-duration ETF; and more.
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AWARDS
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Don't Miss the 2025 Service Stars
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The PLANSPONSOR Service Star Awards program recognizes the retirement plan account representatives and relationship managers who, according to their plan sponsor clients, have demonstrated exemplary service.
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ON THIS DATE: In 1949, the North Atlantic Treaty Organization was formed, the founding member nations of this military alliance being Belgium, Canada, Denmark, France, Iceland, Italy, Luxembourg, the Netherlands, Norway, Portugal, the U.K. and the U.S. In 1968, Martin Luther King, Jr., a leader of the American civil rights movement who was in Memphis, Tennessee, to support a strike by the city’s sanitation workers, was assassinated by James Earl Ray. In 1969, surgeon Denton Cooley implanted the first complete artificial heart in a human, several days later the patient received a donor heart but died shortly thereafter. In 1975, Bill Gates and Paul Allen founded Microsoft. In 2002, after 27 years of fighting, the Angolan government and political party UNITA signed a ceasefire agreement that ended the country’s civil war. In 2023, in a Manhattan court, then-former U.S. President Donald Trump was arraigned on 34 felony charges relating to an alleged hush-money scheme to avoid a sex scandal during the 2016 presidential campaign; he became the first former president in U.S. history to face criminal charges.
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