August 8th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Compliance American Airlines Seeks Dismissal of 401(k) ESG Complaint The airline points out in a motion to dismiss that the ESG-related funds in question were only available through the self-directed brokerage window. Data and Research Government Workers Leaving Jobs Face Setbacks When Saving for Retirement The majority of state retirement systems do not provide adequate retirement savings to departing employees, according to data from the Pew Charitable Trusts. Most Read Compliance Regulators Clarify Part-Time Eligibility Rules for ERISA 403(b) Plans Opinions Accumulating Differences: Why Personalization Matters More for Older Investors Products Apollo, Athene Working On Alts, Annuities in DC Investing MARKET MIRROR Monday, the Dow rose 407.51 points (1.16%) to close at 35,473.13 the Nasdaq rose 85.16 points (0.16%) to close at (0.61%) to close at 13,994.40 and the S&P 500 rose 40.41 points (0.90%) to close at 4,518.44. The Russell 2000 rose1.47 points (0.08%) to close at 1,958.94 and the FT Wilshire 5000 Index rose 371.16 points (0.82%) to close at 45,677.11. The price of the 10-year Treasury note rose 1/32, bringing the yield to 4.092%. The price of the 30-year Treasury bond rose 2/32, bringing the yield to 4.269%. Compliance Annuity Provider Representatives Push Back Against PRT Criticisms Leaders in the PRT world argue that many criticisms of insurers are misguided and that the DOL’s IB 95-1 has been working well for a long time. Compliance DOL Bars Aliera Companies, CEO From Serving as ERISA Fiduciaries The health insurance company and CEO Shelley Steele were accused of paying more than $100 million to themselves and affiliated businesses. SMALL TALK ON THIS DATE: In 1846, the Wilmot Proviso, an attempt to prohibit the extension of slavery to new territories in the United States, was proposed, and, in the debate that followed, the Republican Party was born. In 1963, armed robbers stole 2.6 million pounds from the Glasgow-London Royal Mail Train near Bridego Bridge, north of London, in the Great Train Robbery. In 1974, faced with the near-certain prospect of impeachment for his role in the Watergate scandal, President Richard M. Nixon resigned the office of the presidency and was succeeded by Gerald Ford the following day. In 1975, the term “global warming” appeared for the first time in print, with the publication of Wallace Smith Broecker’s paper “Climatic Change: Are We on the Brink of a Pronounced Global Warming?” in the journal Science. In 1981, Swiss tennis player Roger Federer, who came to be regarded as one of the sport’s greatest players, was born. In 1992, the U.S. men’s Olympic basketball team—which had been dubbed the “Dream Team” because of an all-star roster of National Basketball Association players that included Michael Jordan, Magic Johnson and Larry Bird—easily defeated Croatia to win the gold medal at the Barcelona Games. In 2000, the wreckage of the Hunley, a Confederate submarine that was lost during the Civil War, was raised from the ocean floor near Sullivan’s Island, South Carolina; it was the first submarine to sink  an enemy ship. In 2009, Sonia Sotomayor was sworn in as Associate Justice of the Supreme Court. Born in the Bronx to Puerto Rican parents, Sotomayor is the first Hispanic justice to serve on the nation’s highest court. In 2011, Tibetan scholar Lobsang Sangay was inaugurated as prime minister of the Tibetan government-in-exile, becoming the first non-monk and the first person born outside Tibet to hold the position. 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