February 7th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Compliance Partisan Divide Continues to Sharpen on ESG Investing EBSA head Lisa Gomez spoke in defense of a DOL rule that would permit ESG in retirement plans as Republicans push back against ESG in Congress and the courts. Data and Research Public Pension Return Assumptions Fall in 2022, NCPERS Says Overall funded status rose 3 percentage points to 77.8% on private equity, real estate returns. Most Read Benefits Social Security COLA Increase to Add About $50 per Month in 2025 Administration Many Taxpayers Dodged Penalty Tax for Early Retirement Withdrawals Administration Bills to Ban Arbitration Clauses Reappear in House, Senate MARKET MIRROR Monday, the Dow lost 34.99 points (0.10%) to close at 33,891.02, the Nasdaq lost 119.51 points (1.00%) to close at 11,887.45 and the S&P 500 fell 25.40 (0.61%) to close at 4,111.08. The Russell 2000 lost 27.82 points (1.40%) to close at 1,957.72 and the Wilshire 5000 lost 297.50 points (0.72%) to close at 41,087.86. The price of the 10-year Treasury note increased 4/32, bringing the yield to 3.645%. The price of the 30-year Treasury bond increased 1/32, bringing the yield to 3.677%.   Data and Research Retirement Account Balances Dipped 20% in 2022, Trading Lowest in 20 Years Despite economic challenges, plan participants were resilient saving for retirement, Vanguard Group data shows.   UpFront A New, Increased ‘Safe’ Withdrawal Rate? Based on Morningstar's annual model, retirees may draw down a higher percentage of savings over a 35-year time horizon, thanks in part to elevated interest rates. SMALL TALK ON THIS DATE: In 1775, Benjamin Franklin published “An Imaginary Speech” in defense of American courage. In 1867, Laura Ingalls Wilder, author of the Little House series of books that were based on her childhood in a settler and pioneer family, was born. In 1936, the vice president’s flag was established by an executive order. In 1964, the musical British Invasion began when the Beatles landed in New York City. Two nights later, as Beatlemania stormed America, their performance on “The Ed Sullivan Show” was watched by 73 million viewers. In 1974, Grenada gained independence from the United Kingdom. In 1985, the song New York, New York became the official anthem of New York City. In 1992, the nations of Western Europe united in the spirit of economic cooperation with the signing of the Maastricht Treaty of European Union that called for greater economic integration, common foreign and security policies and collaboration between the police and other authorities on crime, terrorism and immigration. In 2013, Mississippi became the last U.S. state to officially abolish slavery; it had ratified the Thirteenth Amendment in 1995 but failed to submit the necessary paperwork. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850