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January 18th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| MARKET MIRROR |
Tuesday, the Dow lost 391.76 points (1.14%) to close at 33,910.85, the Nasdaq gained 15.96 points (0.14%) to close at 11,095.11 and the S&P 500 lost 8.12 points (0.20%) to close at 3,990.97. The Russell 2000 lost 2.75 points (0.15% ) to close at 1,884.29 and the Wilshire 5000 lost 59.96 points (0.15%) to close at 39,774.15.
The price of the 10-year Treasury note increased 1/32, bringing the yield to 3.549%. The price of the 30-year Treasury bond increased 2/31, bringing the yield to 3.661%.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Voya expands wealth solutions team with northeast hire; Transamerica names director of Institutional Sales; DFA names CEO for Australia fund advisement; and more. 
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ASK THE EXPERTS
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Should We Continue To Refer To Our 403(b) Plan By An Outdated Name?
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I work in employee benefits for a health care entity, and I noticed that our 403(b) plan is named the XYZ Hospital Tax Deferred Annuity Plan, even in the plan document. Our plan hasn’t even had annuities for several years (we converted to an all-mutual-fund platform a decade ago) and we also now have Roth 403(b) account in addition to traditional tax-deferred accounts. Is there any reason that we should continue to refer to our plan by a name that is so outdated and potentially confusing to participants?
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AWARDS ,
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Plan Sponsor of the Year Nominations Closing Soon!
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Are you or do you know of a plan sponsor that goes above and beyond to make retirement security a reality for employees? Get yourself, or them, recognized in PLANSPONSOR’s Plan Sponsor of the Year awards program. Judging for the awards is largely based on applications the plan sponsors will be sent to fill out, so get your nominations in soon. The deadline is January 20.
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Deadline Extended for Retirement Plan Adviser of the Year Nominations!
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Do you know an adviser or adviser team you admire for their community impact? Do you work with an adviser or adviser team that offers great service to your participants or is working on a solution to solve for the retirement plan coverage gap? We have just extended the deadline for nominations for our Retirement Plan Adviser of the Year Awards to January 20. Judging for the awards is largely based on the application that each nominee will fill out, so please get your nominations in soon.
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SURVEYS
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CIO’s Transition Management Survey
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Are you a provider of transition management services and want to make your services known to institutional investors? If so, you are invited to respond to CIO’s Transition Management Survey.
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ON THIS DATE: In 1778, English explorer Captain James Cook became the first European to travel to the Hawaiian Islands when he sailed past the island of Oahu. In 1803, President Thomas Jefferson requested funding from Congress to finance the Lewis and Clark expedition. In 1912, after a two-month trek, the expedition of British explorer Robert Falcon Scott arrived at the South Pole, only to find that Roald Amundsen, the Norwegian explorer, had preceded them by just over a month. In 1919, the post-World War I Paris Peace Conference began. In 1958, hockey player Willie O’Ree of the Boston Bruins took to the ice for a game against the Montreal Canadiens, to become the first African American player to play in the National Hockey League. In 1995, the yahoo.com domain was created. In 1996, Major League Baseball owners unanimously approved interleague play for the 1997 season.
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No reproduction without prior authorization.
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