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PLANSPONSOR NEWSDASH LOGO April 8th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Plan Sponsors Want Participants to Improve Retirement Income Planning
Plan Sponsors Want Participants to Improve Retirement Income Planning
Education regarding financial wellness can include reminders of what to keep in mind for the future.
Compliance
SEC’s Proposed Money Market Funds Rules Draw Opposition
’Swing pricing’ and liquidity minimums have at least one large asset manager threatening to exit the market.
Most Read
Data and Research
Health Care in Retirement Will Cost an Average of $315,000
Deals and People
Retirement Industry People Moves
Data and Research
401(k) vs. 403(b): Different Paths to Retirement Readiness
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 4.72% for the week ending April 7, up from last week when it averaged 4.67%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.13%. Interest on a 15-year fixed-rate mortgage averaged 3.91%, up from last week when it averaged 3.83%. A year ago at this time, the 15-year FRM averaged 2.42%.

In the week ending April 2, the advance figure for seasonally adjusted initial claims for unemployment insurance was 166,000, a decrease of 5,000 from the previous week’s revised level of 171,000, the Labor Department reported. The four-week moving average was 170,000, a decrease of 8,000 from the previous week’s revised average of 178,000.
Market Mirror
Thursday, the Dow closed 87.06 points (0.25%) higher at 34,583.57, the Nasdaq was up 8.48 points (0.06%) at 13,897.30, and the S&P 500 increased 19.06 points (0.43%) to 4,500.21. The Russell 2000 was down 7.14 points (0.35%) at 2,009.80, and the Wilshire 5000 gained 120.37 points (0.27%) to finish at 45,088.73.

The price of the 10-year Treasury note was down 5/32, increasing its yield to 2.656%. The price of the 30-year Treasury bond decreased 30/32, bringing its yield up to 2.675%.
Compliance
Student Loan Repayment Freeze Extended Through August
In announcing the loan forbearance extension, President Biden acknowledged that the country is still recovering from the pandemic and the unprecedented economic disruption it caused.
Products
Investment Product and Service Launches
New York Life Investments announces new brand for its private markets alternatives boutique; State Street Global Advisors launches ESG-focused ETF.
AIG Debuts Interactive Wellness Check Tool
The tool can help retirement plan participants act to bolster their retirement readiness and financial goals.
Small Talk
SURVEY SAYS: A Questis survey of 2,000 adults found that 56% believe talking about finances with others is considered “taboo.” Although most are not sure why money talk may be taboo (81%), people weighed in on the most controversial money-related topics to discuss: inquiring about their parents’ finances (51%), debt (45%) and wills (43%). While most respondents (76%) describe themselves as an “open book,” in reality, 63% of them shared that they would never discuss finances at the family dinner table. This week, I’d like to know, who do you share your finances with, and are there elements of your finances that you’re more guarded with than others? You can respond to this week’s survey by 6 p.m. Pacific time today.
ON THIS DATE: In 1789, the House of Representatives held its first meeting. In 1834, in New York City, Cornelius Lawrence became the first mayor to be elected by popular vote in a city election. In 1913, the Seventeenth Amendment was ratified, requiring direct election of senators. In 1946, the League of Nations assembled in Geneva for the last time. In 1974, Hank Aaron of the Atlanta Braves hit his 715th career home run, breaking Babe Ruth’s legendary record of 714 homers. In 1975, Frank Robinson of the Cleveland Indians became first black manager of a major league baseball team. In 1993, the space shuttle Discovery, lifted off from the Kennedy Space Center, with astronaut Ellen Ochoa, soon to become the first Hispanic woman in space, on board. In 2002, Suzan-Lori Parks became the first African American woman to win a Pulitzer Prize for drama for her play “Topdog/Underdog.”

And now it’s time for some FRIDAY FUN!
A boy has a bumpy ride down the slide.

In Richmond, California, the National Park Service announced the retirement of its oldest active ranger. According to UPI, Betty Reid Soskin has served as a ranger at Rosie the Riveter/WWII Home Front National Historical Park for more than a decade and a half. Soskin turned 100 last September. She took a temporary position working with the NPS at age 84 and became a permanent employee in 2011.

Have a great weekend, everyone!
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