August 3rd, 2023 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Retirement Savings Gap Widens Further Between High, Low-Income Employees High-income households increasingly hold larger retirement account balances than lower income households and are more likely to reap tax perks associated with workplace plans, GAO research shows. Compliance UnitedHealth Group Insurance TPA, UMR Sued by DOL The Department of Labor’s complaint may indicate health care regulations are going the way of rules for retirement plans.  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 MARKET MIRROR Wednesday, the Dow fell 348.16 points (0.98%) to close at 35,282.52 the Nasdaq fell 310.47 points (2.17%) to close at 13,973.45 and the S&P 500 fell 63.34  points (1.38%) to close at 4,513.39. The Russell 2000 fell 27.33 points (1.37%) to close at 1,966.83 and the FT Wilshire 5000 Index fell 658.78 points (1.42%) to close at 45,654.71. The price of the 10-year Treasury note rose 1/32, bringing the yield to 4.088%. The price of the 30-year Treasury bond rose 2/32, bringing the yield to 4.178%. Investing How Plan Sponsors Make Sure Their QDIA Is Still the Best Option Large plan sponsors explain what they look for in quarterly reviews of their plans' qualified default investment alternatives. Data and Research Nearly 90% of Jobseekers Consider 401(k) a ‘Must-Have’ Benefit Workers have continued to prioritize 401(k) saving despite inflation and market volatility, data shows. SMALL TALK ON THIS DATE: In 1914, Germany declared war on France in World War I. In 1921, one day after being acquitted on insufficient evidence—largely because key evidence had disappeared from the grand jury files, eight Chicago White Sox players were banned from Major League Baseball for life, accused of receiving bribes to intentionally lose the 1919 World Series. In 1923, President Calvin Coolidge was sworn in as the 30th chief executive of the U.S., hours after the death of President Warren G. Harding. In 1936, at the Olympics in Berlin, track athlete Jesse Owens won the 100-meter event, his first of four Olympic gold medals. In 1949, the National Basketball Association was formed by the merger of the National Basketball League and the Basketball Association of America. In 1960, the Republic of Niger gained its independence from France. In 1984, gymnast Mary Lou Retton won the all-around event at the Olympics in Los Angeles, becoming the first American woman to win an individual Olympic gold medal in gymnastics. In 2004, French photographer Henri Cartier-Bresson—a master of street photography, capturing what he called “the decisive moment”—died at age 95. 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