August 21st, 2023 Insight on Plan Design & Investment Strategy Every Weekday Data and Research State-Facilitated Retirement Plans Hit $1B in Assets as Programs Continue to Launch 19 states have initiated programs to help workers prepare for retirement, and early adopters California, Oregon and Illinois account for most of the accumulated assets so far. Administration Pension Risk Transfer Deals Hit Record Level in First Half of 2023 Companies completed 289 transaction in the first half of 2023, per an Aon study. Most Read Administration From Auto-IRAs to PEPs: How Small Employers Can Offer Retirement Savings Compliance Bristol-Myers Squibb, State Street Targeted in Lawsuit Over PRT Administration No Matter How Small, Businesses Have Retirement Plan Options ECONOMIC EVENTS Tuesday, the National Association of Realtors will report existing home sales for July. Wednesday, the Census Bureau will report new home sales for July. Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the Census Bureau will report new orders for manufactured durable goods for July. MARKET MIRROR Friday, the Dow rose 25.83 points (0.08%) to close at 34,500.66, the Nasdaq fell 26.16 points (0.20%) to close at 13,290.78 and the S&P 500 fell 0.65 points (0.01%) to close at 4,369.71. The Russell 2000 rose 9.36 points (0.51%) to close at 1,859.42 and the FT Wilshire 5000 Index rose 23.90 points (0.54%) to close at 44,074.86. The price of the 10-year Treasury note dropped 1/32, bringing the yield to 4.253%. The price of the 30-year Treasury bond dropped 1/32, bringing the yield to 4.3780%. For the week ending August 18, the Dow fell 2.21%, the Nasdaq fell 2.59% and the S&P 500 fell 2.11%. The Russell 2000 fell 3.41%, and the FT Wilshire 5000 Index ended 2.25% lower. Compliance Pension Fund With Very Few Active Participants Granted $36.3M in SFA Funds The fund had a receiving-to-active participant ratio of nearly 50-to-1 as of 2021. Products Spouting Rock Launches Rebranded, Independent Retirement Entity Spouting Rock Financial Partners debuted a new retirement-focused division. DEALS AND PEOPLE Retirement Industry People Moves Newly formed Collective Retirement Solutions taps Bill Higgins as MD; Ocorian promotes French to head of financial crime; Voya’s Penland joins DC alternatives board; and more. SMALL TALK ON THIS DATE: In 1831, Nat Turner began an unsuccessful slave rebellion in the American South that eventually killed 60 people before being stopped by a 3,000-man militia. In 1858, the debates in Illinois between Abraham Lincoln, Republican Party nominee for the U.S. Senate, and incumbent Senator Stephen A. Douglas of the Democratic Party began. In 1911 Leonardo da Vinci’s Mona Lisa was stolen from the Louvre by three Italian handymen; it was not recovered until 1913, and the media sensation helped make it one of the world’s most famous paintings. In 1942, the animated film “Bambi” had its theatrical release in the U.S., and it became a classic in the Disney canon. In 1959, Hawaii became the 50th U.S. state. In 1987, the romantic drama “Dirty Dancing,” starring Patrick Swayze and Jennifer Grey, was released in American theatres. In 1991, Latvia declared its independence from the Soviet Union. In 2017, for the first time in nearly 40 years, the continental U.S. experienced a total solar eclipse, which was viewed from Oregon to South Carolina. 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