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August 24th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Sales of new single‐family houses in July were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12.6% below the revised June rate of 585,000 and is 29.6% below the July 2021 level of 726,000.
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| MARKET MIRROR |
Tuesday, the Dow sagged 154.02 points (0.47%) to close at 32,909.59, the Nasdaq slipped 0.27 points (0.00%) to 12,381.30 and the S&P 500 lost 9.26 points (0.22%) to 4,128.73. The Russell 2000 gained 3.40 points (0.18%) to 1,191.14 and the Wilshire 5000 lost 48.77 points (0.12%) to close at 41,224.39.
The price of the 10-year Treasury note fell 3/32 bringing the yield up to 3.058%. The price of the 30-year Treasury bond decreased 29/32 bringing the yield up to 3.267%.
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ASK THE EXPERTS
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What Policies Does Our Plan Need?
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“We sponsor an ERISA 403(b) plan. Are we required to have any policies in addition to our plan document? It appears that many of our peers have a loan policy and an investment policy, but we do not.” 
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EVENTS
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The Destination for Retirement Plan Innovators
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Are you a retirement plan adviser looking to expand your network and learn about the most innovative ideas for serving your retirement plan clients? If so, the 2022 PLANADVISER National Conference is the destination for you. Our comprehensive agenda includes networking events, educational panel discussions, an entertaining special guest and even a Fun Run. Don’t miss out!
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ON THIS DATE: In 1814, during the War of 1812, British forces captured Washington, D.C., and burned various government buildings, notably the Capitol and the White House. In 1821, the Treaty of Córdoba was signed, giving Mexico its independence from Spain. In 1950, Judge Edith Sampson of the United States was named the first black delegate to the United Nations. In 1959, three days after Hawaiian statehood, Hiram L. Fong was sworn in as the first Chinese-American U.S. senator and Daniel K. Inouye was sworn in as the first Japanese-American U.S. representative. In 1968, France became the 5th thermonuclear power when a hydrogen bomb was exploded in the South Pacific. In 1981, Mark David Chapman was sentenced to 20 years to life for the murder of John Lennon, a founding member of The Beatles. In 2001, U.S. District Judge Colleen Kollar-Kotelly was selected to take over the Microsoft monopoly case, wherein the judge was to decide how Microsoft should be punished for illegally trying to squelch its competitors. In 2006, the planet Pluto was reclassified as a “dwarf planet” by the International Astronomical Union because of new rules for an object to qualify as a planet. Pluto met two of the three rules: it orbits the sun and is large enough to assume a nearly round shape, however, since Pluto has an oblong orbit and overlaps the orbit of Neptune it was disqualified as a planet. In 2011, amid health issues, Steve Jobs resigned as CEO of Apple, and he died less than two months later.
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| Industry Intel Roundup—Featured Webinars | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. |  | | September 19, 2024 | | Financial Wellness | | Plan sponsors, advisers and policy experts will offer suggestions for how best to define and measure the financial wellness of participants and drive financial confidence. The panel will also review how they evaluate the myriad new offerings appearing as a result of the voluntary benefits provisions of SECURE 2.0. Attendees will come away with tangible metrics for determining which programs will offer the most useful and valuable programs for their employees. |
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| | | | | December 12, 2024 | | Plan Benchmarking | | How do plan sponsors determine the right goals for their plans or measure plan success? What tools are available to benchmark retirement plans? What should plans be measuring and how often? What kinds of actions or improvements can measurements drive? These questions and more will be answered in PLANSPONSOR’s final editorial webinar of 2024. |
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