December 14th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits Unum Group Sees Early Success With Emergency Savings Program The insurance provider launched its emergency savings program in April, allowing participants to contribute up to $10,000 to the account each year. Compliance Adviser, Insurance Industries at Odds During DOL Fiduciary Proposal Hearing After two days of hearings, the fiduciary adviser rule has been strongly criticized by the insurance industry but broadly supported by the adviser industry and consumer advocates. Most Read Compliance House Passes Legislative Package Allowing CITs in 403(b) Retirement Plans  Compliance Fidelity-Pontera Dispute Reveals Tension Between Choice, Obligation Ask the Experts Can an Employer Match Catch-Up Contributions? ECONOMIC EVENTS The Producer Price Index for final demand was unchanged in November, the Bureau of Labor Statistics reported. Prices for both final demand goods and for final demand services were unchanged. The index for final demand increased 0.9% for the 12 months ended in November. MARKET MIRROR Wednesday, the Dow rose 512.30 points (1.40%) to close at 37,090.24, the Nasdaq rose 200.57 points (1.38%) to close at 14,733.96 and the S&P 500 rose 63.39 points (1.37%) to close at 4,707.09. The Russell 2000 rose 66.24 points (3.52%) to close at 1,947.51, and the FT Wilshire 5000 Index rose 733.70 points (1.57%) to close at 47,522.34. The 10-year Treasury note rose 1 5/32, bringing the yield to 4.025%. The 30-year Treasury bond rose 2 4/32, bringing the yield to 4.179%.  Compliance Report: DOL Information Security Needs Improvement An audit of the Department of Labor’s program determined it is ineffective. Benefits November Yields Mixed Results for Corporate Pension Funded Status According to Wilshire, November saw the largest monthly increase in liability value since it began tracking corporate pension funded status in December 2012. AWARDS Nomination Period Open for 2024 Plan Sponsor of the Year Awards Finalists will be recognized and winners will be announced at PLANSPONSOR’s annual Excellence in Retirement Awards dinner in June. SMALL TALK ON THIS DATE: In 1799, George Washington, the first president of the U.S., died at age 67. In 1900, German physicist Max Planck published his study of the effect of radiation, and the quantum theory of modern physics was born. In 1911, Norwegian explorer Roald Amundsen, who left Norway for Antarctica in June 1910, became the first person to reach the South Pole. In 1960, the convention establishing the Organization for Economic Co-operation and Development was signed by 18 European countries, the U.S and Canada. In 1979, British punk rock band the Clash released its breakthrough album, “London Calling.” In 1985, Wilma Mankiller became the first woman to serve as chief of a major Native American tribe when she was sworn in as principal chief of the Cherokee Nation. In 1993, the film “Philadelphia,” directed by Jonathan Demme and starring Tom Hanks and Denzel Washington, had its world premiere; it was the first major Hollywood film to address the AIDS crisis, and Hanks won an Oscar for his performance. In 2012, a mass shooting in Newtown, Connecticut, left 28 people dead, including 20 children from Sandy Hook Elementary School and the 20-year-old shooter, Adam Lanza. In 2013, Irish actor Peter O’Toole died at age 81.  Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 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