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February 27th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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Opinions
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Now Is the Time: The Retirement Tier
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Peg Knox, Defined Contribution Institutional Investment Association (DCIIA) discusses the “retirement tier,” which allows a DC plan sponsor to broaden the plan’s goal from accumulation to decumulation.
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Economic Events |
Sales of new single‐family houses in January were at a seasonally adjusted annual rate of 764,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.9% above the revised December rate of 708,000 and is 18.6% above the January 2019 estimate of 644,000.
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Market Mirror |
Wednesday, the Dow decreased 123.77 points (0.46%) to 26,957.59, the NASDAQ was up 15.16 points (0.17%) at 8,980.78, and the S&P 500 was down 11.82 points (0.38%) at 3,116.39. The Russell 2000 lost 19.14 points (1.22%) to finish at 1,552.76, and the Wilshire 5000 closed 179.90 points (0.56%) lower at 31,741.79.
The price of the 10-year Treasury note increased 2/32, bringing its yield down to 1.331%. The price of the 30-year Treasury bond was up 1/32, decreasing its yield to 1.823%.
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ON THIS DATE: In 1827, New Orleans held its first Mardi Gras celebration. In 1896, the “Charlotte Observer” published a picture of an X-ray photograph made by Dr. H.L. Smith. The photograph showed a perfect picture of all the bones of a hand and a bullet that Smith had placed between the third and fourth fingers in the palm. In 1922, the U.S. Supreme Court upheld the 19th Amendment that guaranteed women the right to vote. In 1951, the 22nd Amendment to the Constitution was ratified, limiting presidents to two terms. In 1974, “People” magazine was first issued by Time-Life. In 1980, “I Will Survive” won the first—and last—Grammy ever awarded for Best Disco Recording. In 1990, the Exxon Corporation and Exxon Shipping were indicted on five criminal counts in reference to the 1989 Exxon Valdez oil spill.
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