January 17th, 2025 Insight on Plan Design & Investment Strategy Every Weekday Compliance FTC Issues 2nd Report Exposing Practices of Pharmacy Benefit Managers The Federal Trade Commission found that the big three PBMs have marked up the price of numerous specialty generic drugs, gaining more than $7.3 billion over a five-year period. Compliance EBSA Offers Proposed ESOP Appraisal Regulations The rule would clarify the issue of 'adequate consideration' and replace a pending regulation first offered decades ago. Most Read Compliance Judge Blocks Unions’ Motion for Restraining Order Against DOL Compliance Charter Communications Faces 401(k) Forfeiture Suit Data and Research 529 Tuition Savings Plans Hit Net Inflows of $3.1B at End of 2024 ECONOMIC EVENTS In the week ending January 11, the advance figure for seasonally adjusted initial jobless claims was 217,000, an increase of 14,000 from the previous week’s revised level of 203,000, the Department of Labor reported. The four-week moving average was 212,750, a decrease of 750 from the previous week’s revised average of 213,500. Interest on a 30-year fixed-rate mortgage averaged 7.04% for the week ending January 16, up from last week when it averaged 6.93%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 6.60%. Interest on a 15-year fixed-rate mortgage averaged 6.27%, up from last week when it averaged 6.14%. A year ago at this time, the 15-year FRM averaged 5.76%. MARKET MIRROR Thursday, the Dow fell 68.42 points (0.16%) to close at 43,153.13, the Nasdaq fell 172.94 points (0.89%) to close at 19,338.29 and the S&P 500 fell 12.57 points (0.21%) to close at 5,937.34. The Russell 2000 rose 3.50 points (0.15%) to close at 2,266.79, and the FT Wilshire 5000 Index fell 62.11 points (0.10%) to close at 59,722.14. The 10-year Treasury note increased 25/32, bringing the yield to 4.616%. The 30-year Treasury bond increased 3/32, bringing the yield to 4.855%. Benefits Unite Here Retirement Fund to Receive $868.6M SFA Grant The PBGC approved the funds for the White Plains, New York-based plan that covers 91,744 participants in the hospitality industry. PRODUCTS Product & Service Launches BlackRock’s LifePath Paycheck reaches a milestone; PSCA announces a retirement income education program; HSA Store launches a mobile app; and more. SMALL TALK ON THIS DATE: In 1893, acting for Hawaiian sugar interests and their American allies, a committee led by Sanford Ballard Dole deposed Hawaiian Queen Liliuokalani and installed a provisional government with Dole as president. In 1922, actress Betty White, best known for her comedic work on numerous television shows, was born in Oak Park, Illinois. In 1942, professional boxer Cassius Clay, who later changed his name to Muhammad Ali, was born in Louisville, Kentucky. In 1943, British Prime Minister Winston Churchill and U.S. President Franklin D. Roosevelt met at Casablanca, Morocco. In 1961, in his Farewell Address, President Dwight D. Eisenhower warned that the U.S. must “guard against the acquisition of unwarranted influence… by the military-industrial complex”; he felt that if left unchecked, it could undermine American democracy. In 1995, a large-scale earthquake struck the Osaka-Kobe metropolitan area of Japan, killing an estimated 6,400 people and causing major damage. In 2021, Aleksey Navalny returned to Russia after recovering in Germany from an assassination attempt carried out, according to an investigation, by the Russian government. One of Vladimir Putin’s most prominent critics, Navalny was arrested and imprisoned. He died in 2024. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 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