August 1st, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits S Corporation ESOPs Result in Lower Quit Rates Plan sponsors whose workforce has access to Employee Stock Ownership Plans may accrue benefits of reduced worker turnover, research shows.   Data and Research Americans Show Lack of Knowledge, Uptake of Long-Term Care Insurance The U.S. will soon have more 65-year-olds than ever before, but many are unprepared for long-term care costs, new data from Nationwide shows. Most Read Compliance Regulators Clarify Part-Time Eligibility Rules for ERISA 403(b) Plans Opinions Accumulating Differences: Why Personalization Matters More for Older Investors Products Apollo, Athene Working On Alts, Annuities in DC Investing MARKET MIRROR Monday, the Dow rose 100.24 points (0.28%) to close at 35,559.53 the Nasdaq rose 29.37 points (0.21%) to close at 14,346.02 and the S&P 500 rose 6.73 points (0.15%) to close at 4,588.96. The Russell 2000 rose 21.64 points (1.09%) to close at 2,003.18 and the FT Wilshire 5000 Index rose 126.52 points (0.27%) to close at 46,450.21. The price of the 10-year Treasury note fell 1/32, bringing the yield to 3.961%. The price of the 30-year Treasury bond was unchanged, bringing the yield to 4.012%. DATA AND RESEARCH 2023 Defined Benefit Administration Survey Like our Recordkeeping Survey for the defined contribution (DC) plan market, the DB Administration Survey showcases providers in the defined benefit (DB) plan market—who the major players are, who they serve and what services they provide. Also included is information on overall market sizing. Administration Former HR Head Sues Investment Manager Alleging Retirement Plan Breaches The former director of human resources at alternatives specialist Weiss-Multi-Strategy Advisers has sued the company, adviser subsidiary and retirement plan trustee George A. Weiss.    SMALL TALK ON THIS DATE: In 1819, writer Herman Melville—best known for his novel of the sea “Moby Dick”—was born. In 1876, Colorado was admitted to the union, becoming the 38th U.S. state. In 1936, the Summer Olympics opened in Berlin, and the efforts by Adolf Hitler and the Nazi Party to demonstrate the superiority of the “Aryan race” were undermined by the success of African American athletes, notably Jesse Owens. In 1944, the Warsaw Uprising began as the Polish underground tried to oust the German army and seize control of the city before it was occupied by the advancing Soviet army. In 1980, Icelandic teacher and politician Vigdís Finnbogadóttir became president of Iceland; she was the first woman in the world to be elected head of state in a national election. In 1981, the cable television network MTV debuted, with the broadcast of the music video for Video Killed the Radio Star by the Buggles. In 1987, boxer Mike Tyson defeated Tony Tucker and was unanimously recognized as heavyweight champion. In 2005, Fahd, who became king of Saudi Arabia in 1982, died at age 82; he was succeeded by his half-brother ʿAbduallah. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850