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PLANSPONSOR NEWSDASH LOGO February 12th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
What Could Taxing 401(k)s Look Like? And How Likely Is It?
What Could Taxing 401(k)s Look Like? And How Likely Is It?
A few informal proposals have been made in recent years, and none got very far.
Benefits
20 Years in, EFE Has Grown to $210B in Managed Account Assets
The provider says the pace of asset growth is speeding up, nearly tripling from $88 billion a decade ago.
Most Read
Compliance
Confirmation Hearing Date Announced for Secretary of Labor Nominee Chavez-DeRemer
Compliance
Retiree Advocacy Group, Public Employee Unions Sue Treasury due to ‘Illegal DOGE Data Access’
Compliance
Study Finds Fiduciary 'Red Flags' Are Widespread for Corporate Plans
ECONOMIC EVENTS
Tuesday, the Bureau of Labor Statistics will report the consumer price index for January. Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the Census Bureau will report U.S. retail sales for January. Friday, the Census Bureau will report privately-owned housing starts for January and the Bureau of Labor Statistics will report the producer price index for January.
MARKET MIRROR
Friday, the Dow fell 88.30 points (0.23%) to close at 38,638.03, the Nasdaq rose 191.20 points (1.21%) to close at 15,984.91 and the S&P 500 rose 24.73 points (0.49%) to close at a record 5,022.64. The Russell 2000 gained 29.31 points (1.48%) to close at 2009.01, and the FT Wilshire 5000 Index gained 320.86 points (0.64%) to close at 50,577.91.

The 10-year Treasury note decreased 1/32, bringing the yield to 4.168%. The 30-year Treasury bond decreased 27/32, bringing the yield to 4.374%.

For the week ending February 9, the Dow fell 0.04%, the Nasdaq rose 2.28% and the S&P 500 rose 1.29%. The Russell 2000 rose 2.36%, and the FT Wilshire 5000 Index closed 1.49% higher.
Opinions
A Case for Prudent Diversification in DC Plans
It is the law of the land.
DEALS AND PEOPLE
Retirement Industry People Moves
Federated Hermes names national sales leader; CBIZ Investment Advisory announces president; Fidelity bolsters tax-exempt team; and more.
SMALL TALK
ON THIS DATE: In 1809, future U.S. President Abraham Lincoln, who became one of the most revered leaders but was ultimately assassinated in 1865, and British naturalist Charles Darwin, who developed the theory of evolution by natural selection, were born. In 1818, Chile formally declared independence from Spain. In 1851, gold was discovered in east-central New South Wales, Australia, sparking the country’s first gold rush. In 1909, the National Association for the Advancement of Colored People was founded. In 1912, Puyi, the last emperor of China, abdicated at the end of the Chinese Revolution. In 1934, basketball player Bill Russell, one of the greatest defensive centers in National Basketball Association history and the first Black coach of a major professional U.S. sports team—the Boston Celtics—was born. In 1953, the Egyptian government signed an agreement with the U.K., granting self-government for the Sudan and self-determination within three years for the Sudanese. In 1994, thieves broke into the National Gallery in Oslo and stole The Scream—later recovered—one of several versions Norwegian artist Edvard Munch made of his most famous painting. In 2002, Slobodan Milošević, former-president of Yugoslavia, went on trial for war crimes in The Hague, at the International Criminal Tribunal for the former Yugoslavia; he died four years later, before the trial ended. In 2019, the Republic of Macedonia formally changed its name to the Republic of North Macedonia.
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