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Microsoft Latest Target of Lawsuits Over TDF Suite
Microsoft Latest Target of Lawsuits Over TDF Suite
The lawsuit claims that chasing low fees is currently “in vogue” and that fiduciaries gave no consideration to the funds’ ability to generate returns.
Data and Research
Effects of The Economy Being Felt by Many
Many adults report their overall confidence to meet their financial goals is down as inflation remains high and the cost of goods continues to rise.
Most Read
Is the UAW’s Demand for Return of Pensions a Realistic Ask?
Delay on Catch-Up Provision Allows Employers to Explore Optional SECURE 2.0 Features
Data and Research
Unplanned Financial Challenges Continue to Plague US Workers’ Retirement Savings
Interest on a 30-year fixed-rate mortgage averaged 4.99% as of August 4, down from last week when it averaged 5.30%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.77%. Interest on a 15-year fixed-rate mortgage averaged 4.26%, down from last week when it averaged 4.58%. A year ago at this time, the 15-year FRM averaged 2.10%.

In the week ending July 30, the advance figure for seasonally adjusted initial claims for unemployment insurance was 260,000, an increase of 6,000 from the previous week’s revised level of 254,000, the Labor Department reported. The four-week moving average was 254,750, an increase of 6,000 from the previous week’s revised average of 248,750. 
Thursday, the Dow lost 85.68 points (0.26%) to finish at 32,726.82, the Nasdaq gained 52.42 points (0.41%) to finish at 12,720.58, and the S&P 500 was down 3.23 points (0.08%) at 4,151.94. The Russell 2000 closed 2.47 points (0.13%) lower at 1,906.46, and the Wilshire 5000 decreased 39.64 points (0.10%) to 41,451.66.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.696%. The price of the 30-year Treasury bond fell 29/32, bringing its yield up to 2.983%.
DCIIA Publishes Resource for Introducing a Retirement Tier in DC Plans
A new series of papers aims to provide plan sponsors a framework for supporting near retirees and retirees in preparing for retirement.
Huntington National Bank, Pai Announce New Partnership
The partnership seeks to provide support for small business with their employer-sponsored retirement programs.
Plan Design Considerations to Boost Outcomes
Join PLANSPONSOR for a webinar on August 18, during which industry experts and a plan sponsor will discuss what retirement plan design features have been shown to boost outcomes for participants, innovative ideas for plan design and how attention to overall financial wellness can improve retirement security for employees. Speakers will also talk about what education is needed to best set participants up for success.  
ON THIS DATE: In 1858, after several unsuccessful attempts, the first telegraph line across the Atlantic Ocean was completed, a feat accomplished largely through the efforts of American merchant Cyrus West Field. In 1884, on Bedloe’s Island in New York Harbor, the cornerstone for the Statue of Liberty was laid. In 1914, the first electric traffic signal lights were installed in Cleveland, Ohio. In 1923, Henry Sullivan became the first American to swim across the English Channel. In 1924, the New York “Daily News” debuted the comic strip “Little Orphan Annie,” by Harold Gray. In 1962, movie actress Marilyn Monroe was found dead in her home in Los Angeles. In 1969, the Mariner 7, a U.S. space probe, passed by Mars. Photographs and scientific data were sent back to Earth. In 1976, the National Basketball Association (NBA) merged with its rival, the American Basketball Association (ABA), and took on the ABA’s four most successful franchises: the Denver Nuggets, the Indiana Pacers, the New York (later Brooklyn) Nets and the San Antonio Spurs. In 1981, President Ronald Reagan began firing 11,359 air-traffic controllers striking in violation of his order for them to return to work. The executive action, regarded as extreme by many, significantly slowed air travel for months. In 2011, NASA announced that its Mars Reconnaissance Orbiter had captured photographic evidence of possible liquid water on Mars during warm seasons. In 2011, Juno was launched from Cape Canaveral Air Force Station on a mission to Jupiter. It was the first solar-powered spacecraft to go to Jupiter.
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