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February 28th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
New orders for manufactured durable goods in January, down three of the last four months, decreased $18.0 billion or 6.1% to $276.7 billion, the Census Bureau announced. This followed a 0.3% December decrease. Excluding transportation, new orders decreased 0.3%. Excluding defense, new orders decreased 7.3%. Transportation equipment, also down three of the last four months, led the decrease, $17.4 billion or 16.2% to $89.8 billion.
The Conference Board Consumer Confidence Index fell in February to 106.7, down from a revised 110.9 in January. February’s decline in the index occurred after three consecutive months of gains. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell back to 147.2 in February from 154.9 in January. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—slipped to 79.8, down from a revised 81.5 in January. An Expectations Index reading below 80 often signals recession ahead.
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| MARKET MIRROR |
Tuesday, the Dow fell 96.82 points (0.25%) to close at 38,972.41, the Nasdaq rose 59.05 points (0.37%) to close at 16,035.30 and the S&P 500 rose 8.65 points (0.17%) to close at 5,078.18. The Russell 2000 rose 27.14 points (1.34%) to close at 2,056.11, and the FT Wilshire 5000 Index rose 140.73 points (0.28%) to close at 51,151.06.
The 10-year Treasury note decreased 2/32, bringing the yield to 4.304%. The 30-year Treasury bond decreased 5/32, bringing the yield to 4.429%.
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ON THIS DATE: In 1827, the Baltimore and Ohio Railroad became the first steam-operated railway in the U.S. to be chartered as a common carrier of freight and passengers. In 1922, the U.K. recognized Egypt’s independence after negotiations following the Egyptian Revolution of 1919. In 1931, basketball coach Dean Smith, one of the most successful men’s basketball coaches in collegiate history, was born. In 1942, during World War II, Japanese troops landed on the island of Java, in what was then the Dutch East Indies, which they occupied until 1945. In 1983, the final episode of the popular TV series “M*A*S*H” aired and was watched by an estimated 106 million viewers. In 1986, Olof Palme, the internationally prominent prime minister of Sweden whose strong pacifist beliefs included opposition to the Vietnam War, was assassinated in Stockholm. In 1991, the Persian Gulf War, an international conflict triggered by Iraq’s invasion of Kuwait, ended as Iraqi leader Saddam Hussein accepted a cease-fire agreement. In 2013, Benedict XVI became the first pope to resign since Gregory XII in 1415.
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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. |  | | SPONSORED BY: Corebridge | February 25, 2025 | | Impacts on retirement planning: Taking action on the latest changes to Medicare and Social Security | | With the recent changes in nearly every part of retirement, it can be challenging for employers—and their employees—to keep up. We seem to be in a particularly active time with new laws coming on the books, existing law sections rolling out, and changes from every corner.
In this webinar, you will get the latest information and updates to Social Security and Medicare. There is a swirl of activity in both programs, causing more concern than ever about the viability of Social Security. Plus new, hidden costs in Medicare drug plans have taken folks by surprise.
You’ll also see how these changes impact employees as they adjust their plans for retirement. Planning with high costs of goods and services along with complex law changes puts added pressure on employees’ ability to save sufficiently for retirement. |
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|  | | SPONSORED BY: Lincoln Financial Group | February 4, 2025 | | Benefits at Work: How Financial Wellness Fuels Productivity | | Today’s employees seek meaningful benefits that address their holistic health and financial well-being. To meet their expectations, 80% of employers surveyed agree that a well-rounded, competitive benefits offering is critical, according to our 2024 Small Business Owner survey. More than ever, small businesses need to invest in programs that strengthen employee productivity, loyalty, and morale.
By joining this complimentary webcast, you’ll learn how to:
• Engage today's workforce, including the changing values of millennials and Gen Z, lingering financial concerns, and the key factors driving talent attraction and retention
• Gain a competitive edge for employees with comprehensive benefits, including voluntary employee benefits coverage, retirement savings plans, and financial wellness solutions
• Provide benefits education and wellness programs to help employees take full advantage of their benefits
• Deliver a holistic employee experience with simple plan administration by using a single-source benefits provider |
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|  | | SPONSORED BY: Edelman | December 17, 2024 | | Managed Accounts as QDIA: Which Approach Works Best for Your Participants? | | Plan sponsors have multiple tools at their disposal to help deliver the right solution at the right time for their participants while maintaining their fiduciary responsibilities. Many plan sponsors have adopted managed accounts as a QDIA, whether for targeted segments of their participant population or as a broader approach. As the #1 DC managed account provider since 2008 (per Cerulli Associates), Edelman Financial Engines is excited to host this webinar and discussion.
This webinar will cover:
Different ways that plan sponsors use managed accounts as a default investment option, and the impact on participants, addressing legal and regulatory concerns with different default structures, how managed accounts and target date funds fit together in a Dual QDIA structure and insights from a leading plan sponsor that uses managed accounts as a default to understand their decision-making process and how the solution improves participant outcomes. |
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|  | | 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: Income America | November 19, 2024 | | Changing the Conversation on Guaranteed Retirement Income | | As retirement plans transition from supplemental savings vehicles to the primary income source for many retirees, plan participants’ perspectives on retirement have shifted significantly. This session will delve into the findings from American Century’s 11th Annual Retirement Survey, highlighting how these evolving views are influencing employers’ goals and strategies in designing their organizations’ plans. With income replacement becoming a critical focus for participants, plan sponsors are increasingly recognizing the need to align retirement plans with these expectations. Additionally, there is a growing emphasis on guaranteed income solutions to better meet the evolving retirement goals of employees. By adapting plans to meet participants’ needs and incorporating sought-after design features, plan sponsors can drive deeper engagement and achieve better outcomes for their participants. |
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