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December 7th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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Compliance
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What Happens to George Santos’ Pension?
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The New York representative was expelled for fraud and other offenses on Friday and did not meet the minimum service requirement for the benefit.
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PARTICIPANT ANALYSIS
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Age Matters
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Employees prioritize and value certain benefits offered by their employers differently based on their age and life stage, according to the 2022 PLANSPONSOR Participant Survey.
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MARKET MIRROR |
Wednesday, the Dow fell 70.13 points (0.19%) to close at 36,054.43, the Nasdaq fell 83.20 points (0.58%) to close at 14,146.71 and the S&P 500 fell 17.84 points (0.39%) to close at 4,549.34. The Russell 2000 fell 3.99 points (0.22%) to close at 1,852.05, and the FT Wilshire 5000 Index fell 167.83 points (0.36%) to close at 45,854.87.
The 10-year Treasury note rose 27/32, bringing the yield to 4.109%. The 30-year Treasury bond rose 1 27/32, bringing the yield to 4.213%.
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AWARDS
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Help Your Plan Adviser Get Recognized
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Don’t miss your chance to nominate your plan adviser for the 2024 Retirement Plan Adviser of the Year awards. Nominations for the Plan Sponsor Service, Plan Participant Service and 403(b) Plan Service categories can only come from plan sponsor clients, so we need your help in identifying the best in the business. The nomination deadline has been extended to December 8. Nominate your adviser today!
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ON THIS DATE: In 1787, Delaware became the first state to ratify the U.S. Constitution. In 1917, the U.S. declared war on the Austro-Hungarian Empire during World War I. In 1941, Japanese bombers launched a surprise aerial attack on the U.S. naval base at Pearl Harbor on the island of Oahu, Hawaii, precipitating the entry of the United States into World War II. In 1956, basketball player Larry Bird, who is considered one of the greatest pure shooters of all time, was born. In 1972, astronaut Eugene Andrew Cernan commanded the last crewed flight to the Moon, effectively ending the Apollo program. In 1975, shortly after declaring its independence, East Timor was invaded and occupied by Indonesian forces. In 1982, the first execution by lethal injection in the U.S. took place at the state penitentiary in Huntsville, Texas when Charles Brooks, Jr., convicted of murdering an auto mechanic, was put to death. In 1988, an earthquake struck northwestern Armenia, devastating numerous cities, including Vanadzor and Gyumri. In 2020, aviator Chuck Yeager, the first person to exceed the speed of sound in flight, died at age 97. In 2004, Afghan politician Hamid Karzai was sworn in as Afghanistan’s first popularly elected president.
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