August 22nd, 2022 Insight on Plan Design & Investment Strategy Every Weekday Data and Research The Connection Between Emergency Savings Accounts and Retirement Research shows that for low- and moderate-income workers, access to emergency savings accounts is likely to bolster retirement contributions and provide greater financial security.  Data and Research Employer Health Care Costs Will Spike Less Than Inflation Insurance costs were muted during 2020, the first year of the COVID-19 pandemic, but they will return to rise at ‘more typical levels,’ research shows. Most Read Benefits Social Security COLA Increase to Add About $50 per Month in 2025 Administration Many Taxpayers Dodged Penalty Tax for Early Retirement Withdrawals Administration Bills to Ban Arbitration Clauses Reappear in House, Senate ECONOMIC EVENTS Tuesday, the Census Bureau will report new home sales for June. Wednesday, the Census Bureau will reveal new orders for manufactured durable goods in July. Thursday, the Labor Department will issue its initial claims report and Freddie Mac will update average mortgage rates for the week. MARKET MIRROR Friday, the Dow sagged 292.30 points (0.86%) to 33,706.74, the Nasdaq lost 260.13 points (2.01%) to close at 12,705.22 and the S&P 500 slipped 55.26 points (1.29%) to 4,228.48. The Russell 2000 decreased 43.39 points (2.17%) to close at 1,957.34 and the Wilshire 5000 dropped 624.11 points (1.46%) to 42,190.60. The price of the 10-year Treasury note decreased 8/32 bringing the yield up to 2.977%. The price of the 30-year Treasury bond decreased 1 26/32 bringing the yield up to 3.217%. For the week ending August 19, the Dow decreased 0.16%, the Nasdaq fell 2.62% and the S&P 500 lost 1.20%. The Russell 2000 was down 2.94% and the Wilshire 5000 descended 1.52%. Compliance Latest ERISA Complaint Targets Marmon Holdings Similar groups of plaintiffs represented by law firm Capozzi Adler have met with mixed success in pursuing nearly identical claims. DEALS AND PEOPLE Retirement Industry People Moves Schroders announces strategic changes to U.S. distribution team; Strategic Financial Solutions joins Commonwealth Financial Network; NexPoint distribution team makes four new hires in July; and more SMALL TALK ON THIS DATE: In 1762, Ann Franklin became the editor of the Mercury of Newport in Rhode Island. She was the first female editor of an American newspaper. In 1776, Redcoats landed at Long Island; the British troops arrived in Brooklyn between Gravesend and New Utrecht, with “near twenty-four thousand men ready to land in a moment,” according to one observer. In 1846, the U.S. annexed New Mexico. In 1950, Althea Gibson became the first African American to be admitted to the United States Lawn Tennis Association annual championship at Forest Hills, New York, the U.S. Open. In 1989, Nolan Ryan became the first Major League Baseball pitcher to strike out 5000 batters. In 1996, President Bill Clinton signed the Personal Responsibility and Work Opportunity Reconciliation Act, which reformed the nation’s welfare system, ended guaranteed cash payments to the poor and demanded work from recipients. 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