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Workers Weather Market Uncertainty to Save for Retirement
Workers Weather Market Uncertainty to Save for Retirement
In 2022’s second quarter, average retirement plan balances dropped less than the S&P, which was down 16.1% for the period.
Managed Account Fees Challenged in Latest ERISA Lawsuit
The lawsuit comes as retirement plan sponsors and participants express increased interest in personalization and managed account services.
Most Read
IRS Notice Defines Retirement Plan Tax Distribution Exceptions
ERISA Advisory Council Explores Annuity Default Options in DC Plans
Ask the Experts
Who Is Eligible for Special Age 60-63 Catch-up Contributions?
Privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1,446,000, the Census Bureau revealed. This is 9.6% below the revised June estimate of 1,599,000 and is 8.1% below the July 2021 rate of 1,573,000. Single‐family housing starts in July were at a rate of 916,000; this is 10.1% below the revised June figure of 1,019,000. The July rate for units in buildings with five units or more was 514,000. 
Tuesday, the Dow increased 239.57 points (0.71%) to close at 34,152.01, the Nasdaq slipped 25.50 points (0.19%) to 13,102.55 and the S&P 500 eked out 8.06 points (0.19%) to close at 4,305.20. The Russell 2000 sagged 0.82 points (0.04%) to 2,020.53 and the Wilshire 5000 gained 81.88 points (0.19%) to close at 43,108.70.

The price of the 10-year Treasury note decreased 2/32 bringing the yield up to 2.812%. The price of the 30-year Treasury bond increased 3/32 bringing the yield down to 3.088%.
Participants Pose Challenges to PRTs
In general, plans may not cash out active employees, although there are exceptions.
Webinar: Plan Design Considerations to Boost Outcomes
Join PLANSPONSOR for a webinar on August 18, during which industry experts and a plan sponsor will discuss what retirement plan design features have been shown to boost outcomes for participants, innovative ideas for plan design and how attention to overall financial wellness can improve retirement security for employees. Speakers will also talk about what education is needed to best set participants up for success.
ON THIS DATE: In 1790, the capital city of the U.S. was moved to Philadelphia from New York City. In 1807, the first serviceable steamboat—the Clermont, designed by engineer Robert Fulton—embarked on its maiden voyage. In 1893, actress Mae West was born. She started in vaudeville, and starred in plays, movies, radio and television. In 1943, Robert De Niro, an actor known for his uncompromising portrayals of violent and abrasive characters, was born. In 1945, English author George Orwell published “Animal Farm,” an anti-utopian satire that became a classic. In 1969, the Woodstock Music & Art Fair ended after three days of peace, love and rock ’n’ roll in upstate New York. In 2008, at the Olympics in Beijing, American swimmer Michael Phelps helped his team win the 4 × 100-meter medley relay, becoming the first athlete to win eight medals at a single Games.
Industry Intel Roundup—Thought Leadership
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring content from thought leadership authorities. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
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