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December 20th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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AWARDS
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Plan Sponsor of the Year Nominations Due December 31!
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If you are or if you know about a retirement plan sponsor that is going above and beyond to ensure employee financial and retirement security, nominate them today for the 2025 PLANSPONSOR Plan Sponsor of the Year awards. Categories include Government Defined Contribution, Corporate DC, Nonprofit DC, Government Defined Benefit, Corporate or Nonprofit DB, Total Retirement Offering, Other DC Plans. 
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| ECONOMIC EVENTS |
In the week ending December 14, the advance figure for seasonally adjusted initial claims was 220,000, a decrease of 22,000 from the previous week’s unrevised level of 242,000, the Department of Labor reported. The four-week moving average was 225,500, an increase of 1,250 from the previous week’s unrevised average of 224,250.
Interest on a 30-year fixed-rate mortgage averaged 6.72% for the week ending December 19, up from last week when it averaged 6.60%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 6.67%. Interest on a 15-year fixed-rate mortgage averaged 5.92%, up from last week when it averaged 5.84%. A year ago at this time, the 15-year FRM averaged 5.95%.
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| MARKET MIRROR |
Thursday, the Dow rose 15.37 points (0.04%) to close at 42,342.24, the Nasdaq fell 19.93 points (0.10%) to close at 19,372.77 and the S&P 500 fell 5.08 points (0.09%) to close at 5,867.08. The Russell 2000 fell 10.01 points (0.45%) to close at 2,221.50, and the FT Wilshire 5000 Index fell 68.52 points (0.12%) to close at 58,841.57.
The 10-year Treasury note decreased 4/32, bringing the yield to 4.569%. The 30-year Treasury bond decreased 8/32, bringing the yield to 4.739%.
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PRODUCTS
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Product & Service Launches
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Pacific Life launches registered index-linked annuity; Future Capital partners with AssuredPartners Investment Advisors; TPSU reports growth rates for retirement plan fiduciary training in 2024.
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SPECIAL COVERAGE
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Employer Contribution Strategies
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Employers’ retirement plan contribution strategies require plan sponsors to consider timing, costs and the specific financial needs of their companies and their workforces.
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ON THIS DATE: In 1960, the Vietnamese National Liberation Front was formed, with purpose of effecting the reunification of North and South Vietnam. In 1974, Ethiopia was declared a socialist state under the leadership of Mengistu Haile Mariam. In 1989, the U.S. launched Operation Just Cause, a military invasion of Panama, the initial attack focusing primarily on the Panama City headquarters of leader Manuel Noriega. In 1996, the horror classic “Scream,” directed by Wes Craven, was released in American theaters. In 1999, 12 years after an agreement was reached between China and Portugal, several centuries of Portuguese rule ended in Macau when it became a special administrative region under Chinese sovereignty. In 2008, director Robert Mulligan, whose credits most notable include the classic film “To Kill a Mockingbird,” died at age 83. In 2019, President Donald Trump signed the National Defense Authorization Act, which established the Space Force, a new branch of the U.S. military.
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