August 19th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Fidelity Reports 81% Plan Sponsor Satisfaction With Advisers An annual survey of more than 1,000 employers finds an 81% plan outcome satisfaction rate. Administration IRS Forms Public-Private Committee to Combat Tax Fraud The new coalition, an offshoot of the IRS’s Security Summit group, will work to reduce tax scams during the 2025 filing period. Most Read Investing Empower to Offer Private Investments in 401(k) Plans Benefits Benefits Council Proposes New Ways to Use Retirement Surpluses to Boost Benefits, Raise Revenue Data and Research Employers, Workers Have Disconnect Between Employee Needs, Benefits Strategies  ECONOMIC EVENTS Wednesday, the Federal Reserve releases the minutes of Fed’s July Federal Open Market Committee meeting. On Thursday, the Department of Labor will release its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. MARKET MIRROR Friday, the Dow rose 96.70 points (0.24%) to close at 40,659.76, the Nasdaq rose 37.22 points (0.21%) to close at 17,631.72 and the S&P 500 rose 11.03 points (0.20%) to close at 5,554.25. The Russell 2000 rose 6.45 points (0.30%) to close at 2,141,92, and the FT Wilshire 5000 Index rose 114.36 points (0.21%) to close at 5,5519.82. The 10-year Treasury note increased 23/32, bringing the yield to 3.876%. The 30-year Treasury bond increased 24/32, bringing the yield to 4.127%. In the week ending August 9, the Dow rose 2.94%, the Nasdaq rose 5.29% and the S&P 500 rose 3.93%. The Russell 2000 climbed 2.93%, and the FT Wilshire 5000 Index finished 3.85% higher. DEALS AND PEOPLE Retirement Industry People Moves Mercer promotes Ben Kibbe to lead West region; The Standard hires Daniel Kretz as retirement plans VP for Maryland and D.C.; World Investment Advisors hires CFO; and more. VIDEO Applying a Fiduciary Standard to Health Care Benefits Many retirement plan sponsors have made it a regular practice to monitor and benchmark all plan fees to ensure they are fair and reasonable for services provided. The Consolidated Appropriations Act, requires all plan sponsors to attest the same for fees for health care plans. Learn how to apply fiduciary responsibility and transparency to health care as you have for your retirement plan. SMALL TALK ON THIS DATE: In 1812,  the USS Constitution, commanded by Captain Isaac Hull, won a brilliant victory over the British frigate HMS Guerriere in the War of 1812. In 1883, French fashion designer Coco Chanel—who ruled over Parisian haute couture for almost six decades—was born. In 1946, Bill Clinton, president of United States, was born in Hope, Arkansas.  In 1960, American pilot Francis Gary Powers was sentenced to 10 years’ confinement by the Soviet Union for espionage following the U-2 Affair. In 1994, American theoretical physical chemist Linus Pauling—the only person to have won two unshared Nobel Prizes (Chemistry, 1954; Peace, 1962)—died at age 93. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 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