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PLANSPONSOR NEWSDASH LOGO February 10th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
EBRI Research Shows LGBTQ Workers Are Less Satisfied With Some Work Benefits
EBRI Research Shows LGBTQ Workers Are Less Satisfied With Some Work Benefits
The research also shows that LGBTQ workers in higher income levels feel they have diminished access to workplace benefits. 
Compliance
Judge Dismisses TDF Complaint Against Microsoft
Microsoft has been spared one of a string of lawsuits against plan sponsors over putting retirement savers in a BlackRock target-date fund suit.
Most Read
Compliance
EBSA Head Lisa Gomez Says DOL Continues Honing Retirement Security Rule
Data and Research
Early Withdrawals Found to Exacerbate 401(k) Account Disparities Across Race, Gender
Compliance
Final Fiduciary Rule Expected Soon
ECONOMIC EVENTS
Interest on a 30-year fixed-rate mortgage averaged 6.12% for the week of February 9, up from last week when it averaged 6.09%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 3.69%. Interest on a 15-year fixed-rate mortgage averaged 5.25%, up from last week when it averaged 5.14%. A year ago at this time, the 15-year FRM averaged 2.93%.

In the week ending February 4, the advance figure for seasonally adjusted initial claims was 196,000, an increase of 13,000 from the previous week’s unrevised level of 183,000, the Labor Department reported. The four-week moving average was 189,250, a decrease of 2,500 from the previous week’s unrevised average of 191,750.
MARKET MIRROR
Thursday, the Dow fell 249.13 points (0.73%) to close at 33,699.88, the Nasdaq lost 120.94 points (1.02%) to close at 11,789.58 and the S&P 500 dropped 36.36 points (0.88%) to close at 4,081.50. The Russell 2000 dropped 27.26 points (1.40%) to close at 1,915.34 and the Wilshire 5000 declined 387.82 points (0.94%) to close at 40,730.17. 

The price of the 10-year Treasury note rose 0/32, bringing the yield to 3.663%. The price of the 30-year Treasury bond increased 1/32, bringing the yield to 3.731%.
Investing
529 and ABLE Account Market Tops $410 Billion
In Q4 2022 the number of tax-preferred education savings and prepaid accounts rose to more than 16 million.
PRODUCTS
Investment Service & Product Launches
First Trust launches alternative investment ETF; Nassau launches annuity with bonus of up to 10%; Voyant offers retirement plan training for financial advisers; and more.
SECURE 2.0 Has Passed. Now What?
Join PLANSPONSOR, PLANADVISER and industry experts for a webinar on February 22 as we discuss the impact many provisions in the SECURE 2.0 legislation will have on plan sponsors and participants; a timeline for the issuance of new rules and regulation effective dates; and what actions plan sponsors must take now to comply with the law.
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