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December 30th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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Plan Profile
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Farmers First
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This family-run company offers both a DC plan and an active DB plan. 
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EDITOR'S NOTE
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NewsDash Special Edition
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People are at the heart of any retirement plan. In 2022, PLANSPONSOR profiled many of the people doing the hard work to help employees set themselves up for a secure retirement. Enjoy this selection of our Plan Profiles from throughout the year.
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| ECONOMIC EVENTS |
Interest on a 30-year fixed-rate mortgage averaged 6.42% for the week ending December 29, up from last week when it averaged 6.27%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.11%. Interest on a 15-year mortgage averaged 5.68%, down from last week when it averaged 5.69%. A year ago at this time, the 15-year FRM averaged 2.33%.
In the week ending December 24, the advance figure for seasonally adjusted initial claims for unemployment insurance was 225,000, an increase of 9,000 from the previous week’s unrevised level of 216,000, the Labor Department reported. The four-week moving average was 221,000, a decrease of 250 from the previous week’s revised average. The previous week’s average was revised down by 500 from 221,750 to 221,250.
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| MARKET MIRROR |
Thursday, the Dow gained 345.09 points (1.05%) to close at 33,220.80, the Nasdaq gained 264.80 points (2.59%) to close at 10,478.09 and the S&P 500 increased 66.06 points (1.75%) to close at 3,849.28. The Russell 2000 increased 44.23 points (2.57%) to close at 1,766.25 and the Wilshire 5000 increased 698.42 points (1.86%) to close at 38,159.33.
The price of the 10-year Treasury note increased 27/32, bringing the yield down to 3.823%. The price of the 30-year Treasury bond increased 1 1/32, bringing the yield down to 3.912%
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Plan Profile
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A Balanced Plan
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This sponsor builds a high-quality plan despite a limited budget.
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Plan Profile
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Personalized Support
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A concierge-style wellness program is introduced to engage participants.
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ON THIS DATE: In 1853, The United States bought about 45,000 square miles of land from Mexico in a deal known as the Gadsden Purchase. In 1922, The Union of Soviet Socialist Republics was formed. In 1936, The United Auto Workers union staged its first sit-down strike, at the Fisher Body Plant in Flint, MI. In 1940, California’s first freeway was officially opened. It was the Arroyo Seco Parkway connecting Los Angeles and Pasadena. In 1953, The first color TV sets went on sale for about $1,175. In 1972, The United States halted its heavy bombing of North Vietnam. In 1975, golfer Tiger Woods was born. In 1984, Basketball player LeBron James was born.
Happy New Year, everyone! The NewsDash will be back in your inbox on Tuesday.
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No reproduction without prior authorization.
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702 King Farm Boulevard, Suite 300, Rockville, MD 20850
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