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February 1st, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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The Conference Board Consumer Confidence Index decreased in January after a revised increase in December 2022. The index now stands at 107.1, down from 109.0 in December. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions —increased to 150.9 from 147.4 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell to 77.8 from 83.4 partially reversing its December gain. The Expectations Index is below 80 which often signals a recession within the next year. Both present situation and expectations indexes were revised up slightly in December.
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| MARKET MIRROR |
Tuesday, the Dow increased 368.95 points (1.09%) to close at 34,086.04, the Nasdaq increased 190.74 points (1.67%) to close at 11,584.55 and the S&P 500 increased 58.83 points (1.46%) to close at 4,076.60. The Russell 2000 gained 46.22 points (2.45%) to close at 1,931.94 and the Wilshire 5000 increased 640.30 points (1.60%) to close at 40,724.96.
The price of the 10-year Treasury note increased 24/32, bringing the yield to 3.512%. The price of the 30-year Treasury bond increased 3/32, bringing the yield to 3.636%.
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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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ON THIS DATE: In 1790, the first session of the Supreme Court of the United States was held, in New York City. In 1884, the first of 10 volumes of the Oxford English Dictionary were published in London, the final volume being published in 1928. In 1930, Ruth Ross, a magazine editor, who helped found the inaugural issue of Essence, which included articles of leading African American scholars and writers, was born. In 1965, actress Ruby Dee became the first African American actress to play a major role in the American Shakespeare Festival in Stratford, Connecticut. In 1978, the first postage stamp to honor an African American woman, Harriet Tubman, was issued in Washington, D.C. In 2003, while returning to Earth from an orbital mission, the U.S. space shuttle Columbia broke up at an altitude of about 40 miles over Texas, killing all seven crew members. In 2004, at the Super Bowl Halftime show, pop singer Janet Jackson experienced a “wardrobe malfunction” when part of her bustier was ripped off by Justin Timberlake; some argued it was accidental while others said premeditated. In 2009 Icelandic politician Jóhanna Sigurðardóttir was sworn in as the country’s prime minister, becoming the first woman to hold that post in Iceland and the world’s first openly gay head of government. In 2021, the military seized power in Myanmar, ousting the country’s de facto leader, Aung San Suu Kyi.
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| Industry Intel Roundup—Featured Webinars | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. | | |  | | December 12, 2024 | | Plan Benchmarking | | How do plan sponsors determine the right goals for their plans or measure plan success? What tools are available to benchmark retirement plans? What should plans be measuring and how often? What kinds of actions or improvements can measurements drive? These questions and more will be answered in PLANSPONSOR’s final editorial webinar of 2024. |
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|  | | SPONSORED BY: Corebridge Financial | September 30, 2024 | | How College Planning Fits Into Financial Wellness | | When it comes to the college search, you’ll often hear talk about finding the right “fit.” Usually that means academic and social fit, but a key piece of fit is also the financial fit. A college degree is one of the most expensive purchases a family will make in their lifetime. Figuring out what you will pay, how much you can afford, and how you will find the best value for your money is a critical component of any college search. In this webinar, New York Times bestselling parenting and higher education writer Jeff Selingo will explain how to assess the value of a college and ways to compile the college list with financial wellness in mind. Jeff spent a year inside the college admissions process for his book, Who Gets In and Why, and has written about higher education for 25 years. |
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| | | September 19, 2024 | | Financial Wellness | | Plan sponsors, advisers and policy experts will offer suggestions for how best to define and measure the financial wellness of participants and drive financial confidence. The panel will also review how they evaluate the myriad new offerings appearing as a result of the voluntary benefits provisions of SECURE 2.0. Attendees will come away with tangible metrics for determining which programs will offer the most useful and valuable programs for their employees. |
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