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December 1st, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| MRKET MIRROR |
Wednesday, the Dow increased 737.24 points (2.18%) to close at 34,589.77, the Nasdaq increased 484.22 points (4.41%) to end trading at 11,468.00 and the S&P 500 gained 122.48 points (3.09%) to close at 4,080.11. The Russell 2000 increased 50.03 points (2.72%) to close at 1,886.58 and the Wilshire 5000 increased 1,203.89 points (3.06%) to close at 40,552.42.
The price of the 10-year Treasury note increased 1 2/32, bringing the yield down to 3.606%. The price of the 30-year Treasury bond decreased 2/32, bringing the yield up to 3.739%.
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UpFront
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Considering PBGC Premium Strategies?
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PLAN SPONSORS of defined benefit plans have an opportunity each fall to change how their Pension Benefit Guaranty Corporation insurance premiums are calculated, factoring in current market dynamics, in order to save money. This year’s rising interest rates and inflation meant some sponsors deemed it sensible to change their calculations. Still, it is not a... 
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Industry Analysis
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Sponsors on the Periphery
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Unlike 401(k) plans, not all 403(b) plans are subject to Employee Retirement Income Security Act regulations. A 403(b) plan is exempt from ERISA if the sponsoring employer meets certain requirements, such as having only limited involvement with the plan. To take advantage of this exemption, many 403(b) sponsors choose deferral-only plans. They may also limit...
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SURVEYS
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CIO’s Transition Management Survey
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Are you a provider of transition management services and want to make your services known to institutional investors? If so, you are invited to respond to CIO’s Transition Management Survey.
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EVENTS
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Plan Progress Webinar: Student Loan Debt Benefits
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Join PLANPSONSOR and a panel of experts on December 15 to learn what options are available for student loan debt benefits, their structure and cost; how student loan repayment help fits into an employer’s overall financial wellness benefits; what communications employees need about student loan debt and saving for retirement, and more.
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ON THIS DATE: In 1779, George Washington established the Continental Army’s winter quarters at Morristown, N.J. In 1824, as no presidential candidate received a majority of the total electoral votes in the election of 1824, Congress turned over the presidential election to the House of Representatives, as dictated by the 12th Amendment to the U.S. Constitution. John Quincy Adams was ultimately elected president in February 1825. In 1913, Ford Motor Company began using a new movable assembly line. In 1955, Rosa Parks was jailed for refusing to give up her seat on a public bus to a white man, a violation of the racial segregation laws in Montgomery, Alabama. In 1959, the Antarctic Treaty was signed by 12 countries, making the Antarctic continent a demilitarized zone to be preserved for scientific research. In 1987, Carrie Saxon Perry started a term as the mayor of Hartford, Connecticut, becoming the first Black woman mayor of a major city in New England. In 2000, Vicente Fox was inaugurated as president of Mexico, ending the dominance of the Institutional Revolutionary Party, which had ruled since 1929. In 2013, Amazon.com CEO Jeff Bezos revealed the launch of Amazon Prime Air, a drone delivery service, on “60 Minutes.”
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