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Is It Time for the U.S. to Create a Sovereign Wealth Fund?
Is It Time for the U.S. to Create a Sovereign Wealth Fund?
As the U.S. government looks for a cure-all amid the financial crisis, some experts are looking to a government-owned wealth fund as an answer.
Data and Research
Employees Not Sure What Social Security Will Offer
While many say they will depend on Social Security for retirement income, at least one study finds retirees are not getting as much as they expected.
Most Read
Participants Will Need Support to Understand Lifetime Income Projections
Data and Research
DB Plans Retain Cost Advantage Over DC Plans
DC Plan Design Can Be Creatively Used to Get Participants Back on Track
Economic Events
Today, the Census Bureau will report about construction spending for June, and tomorrow, it will report about factory orders for June. Thursday, the Labor Department will issue its initial claims report. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for July, and the Census Bureau will report about wholesale trade for June.
Market Mirror
Friday, the Dow was up 114.67 points (0.44%) at 26,428.32, the NASDAQ climbed 157.46 points (1.49%) to 10,745.28, and the S&P 500 closed 24.90 points (0.77%) higher at 3,271.12. The Russell 2000 lost 20.20 points (1.35%) to finish at 1,480.43, and the Wilshire 5000 increased 198.93 points (0.60%) to 33,393.33.

The price of the 10-year Treasury note was up 2/32, decreasing its yield to 0.532%. The price of the 30-year Treasury bond increased 3/32, bringing its yield down to 1.196%.

For the week ending July 31, the Dow was down 0.16%, the NASDAQ climbed 3.69%, and the S&P 500 finished 1.73% higher. The Russell 2000 increased 0.88%, and the Wilshire 5000 gained 1.80%.
Federal Court Orders Millions of Dollars Restored to Connecticut Health and Retirement Plans
The decision follows an investigation by the DOL.
Institutional Investment Returns Rebound in Second Quarter
Plan sponsors saw significant investment gains, with a median plan return of 10.6%, according to Northern Trust.
Deals and People
Retirement Industry People Moves
Franklin Templeton appoints head of U.S. distribution; Northwest Plan Services adds client services VP; and Accounts and sales director joins Capital Wealth Planning.
Small Talk
ON THIS DATE: In 1492, from the Spanish port of Palos, Italian explorer Christopher Columbus set sail in command of three ships on a journey to find a western sea route to China, India, and the fabled gold and spice islands of Asia. In 1900, Firestone Tire & Rubber Co. was founded. In 1923, Calvin Coolidge was sworn in as the 30th president of the United States, hours after the death of President Warren G. Harding. In 1936, Jesse Owens won the first of his four Olympic gold medals. In 1949, the National Basketball Association (NBA) was formed. The league was formed by the merger between the Basketball Association of America and the National Basketball League. In 1958, the U.S. nuclear submarine Nautilus accomplished the first undersea voyage to the geographic North Pole. In 1984, Mary Lou Retton won a gold medal at the Los Angeles Summer Olympics. In 2004, in New York City, the Statue of Liberty re-opened to the public. The site had been closed since the terrorist attacks on September 11, 2001.
SURVEY SAYS: Last week, I asked NEWSDash readers, “Are you suffering from virtual meeting burnout yet?” I also asked, “What are some pros and cons of virtual meetings?” Not surprisingly, the majority (60.7%) indicated they are suffering from virtual meeting burnout. However, asked if they will continue virtual meetings in some capacity if/when things get back to normal, most (57.1%) said they will for work meetings. More than one-third of responding readers (35.7%) said they will continue virtual meetings for work and for friends and family. Only 7.1% said they will not continue virtual meetings. As for pros and cons, the readers who chose to leave comments mentioned seeing people’s faces, being able to do other work while attending meetings (if the camera is off) and “Nobody can see you from the waist down” as some positives. Cons included the feeling of personal space being intruded upon and technical issues. But that is not all responding readers had to say. A big thank you to everyone who participated in our survey!
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