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August 3rd, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| MARKET MIRROR |
Tuesday, the Dow fell 402.23 points (1.23%) to close at 32,396.17, the Nasdaq fell 20.22 points (0.16%) to 12,348.76 and the S&P 500 slipped 27.44 points (0.67%) to close at 4,091.19. The Russell 2000 was down 0.86 points (0.05%) to 1,882.45 and the Wilshire 5000 fell 207.17 points (0.50%) to close at 40,826.90.
The price of the 10-year Treasury note dropped 1 6/32, bringing its yield up to 2.753%. The price of the 30-year Treasury bond decreased 1 31/32, bringing its yield up to 3.014%.
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ASK THE EXPERTS
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Should Each Recordkeeper Use Its Own Plan Document?
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“We sponsor an ERISA 403(b) plan with two recordkeepers. Should each recordkeeper be using its own preapproved plan document as the plan document for the plan, so that the plan essentially has two documents?” 
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ON THIS DATE: In 1777, at the Siege of Fort Stanwix, the first U.S. flag was officially flown during battle. In 1900, Firestone Tire & Rubber Co. was founded. In 1905, Maggie Kuhn, a senior rights activist, was born. She founded the Gray Panthers movement after she was forced to retire from her job; the group became known for advocating for nursing home reform and fighting ageism. In 1914, Germany declared war on France in World War I. In 1921, eight Chicago White Sox players were banned from baseball for life, having been accused of receiving bribes to intentionally lose the 1919 World Series. 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 1943, after a three-year battle for both players and fans, the rival Basketball Association of America and National Basketball League merged to form the National Basketball Association. In 1960, the Republic of Niger won independence from France. In 1984, gymnast Mary Lou Retton won the all-around event at the Los Angeles Games and became the first American woman to win an individual Olympic gold medal in gymnastics. In 1996, the pop song “Macarena” began its reign atop the U.S. pop charts.
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| Industry Intel Roundup—Featured Webcasts | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts 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. |  | | Supporting employees throughout their retirement journey | | Making the decision to retire is more complex than ever and we understand that the retirement journey is different for everyone.
From preparing for and investing in retirement, to generating income while living in retirement – learn how you can better support your employees throughout their retirement journey.
This webinar will highlight:
• The latest retirement income trends/insights
• Ways your DC plan can help better support participants transitioning to retirement including considerations for guaranteed income solutions
• Fidelity’s Retirement Income Services including the new Guaranteed Income Direct solution – which gives participants the ability to turn their retirement savings into steady lifetime income |
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| | | Employer Health Benefits: Blueprints for tackling high costs and clinical navigation | |
Much more than ever is being asked of employers in terms of the workplace benefits they offer— including health benefits. Fidelity Health’s Employer Health Benefits Blueprint collection draws on the latest research and thinking to uncover ways employers can help employees stay healthy and productive while controlling costs. This webinar will uncover strategies for managing specialty drug costs, addressing high-cost claims and claimants, and helping employees navigate a complex clinical world.
Learning goals:
• Better understand how to evaluate the right partners that can help address specialty drug prices.
• Recognize the value of a proactive and preventative approach could help employers minimize health costs by anticipating and circumventing costly conditions.
• Develop a strategy for helping employees navigate the health system. |
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