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January 2nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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Compliance
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What’s Changing in 2024 Under SECURE 2.0
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A comparison of the SECURE 2.0 Act of 2022 provisions taking effect in 2024 and prior law, where applicable, according to Groom Law Group, Chartered.
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Benefits
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EBSA’s Lisa Gomez Talks DOL 2024 Agenda
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The Department of Labor keeps working to implement provisions of 2022’s SECURE 2.0 Act alongside further rules for retirement and health benefits.
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ECONOMIC EVENTS |
Tuesday, the Census Bureau will report construction spending for November. Thursday, the Department of Labor will release its initial jobless report, and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report the unemployment rate for December.
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MARKET MIRROR |
Friday, the Dow fell 20.56 points (0.05%) to close at 37,689.54, the Nasdaq fell 83.78 points (0.56%) to close at 15,011.35 and the S&P 500 fell 13.52 points (0.28%) to close at 4,769.83. The Russell 2000 fell 31.26 points (1.52%) to close at 2,027.07, and the FT Wilshire 5000 Index fell 202.26 points (0.42%) to close at 48,295.38.
The 10-year Treasury note fell 3/32, bringing the yield to 3.881%. The 30-year Treasury bond fell 30/32, bringing the yield to 4.036%.
For the week ending December 29, the Dow rose 0.81%, the Nasdaq rose 0.12% and the S&P 500 rose 0.32%. The Russell 2000 fell 0.34%, and the FT Wilshire 5000 Index ended 0.26% higher.
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ON THIS DATE: In 1788, Georgia voted to ratify the U.S. Constitution, becoming the fourth state in the U.S. In 1890, President Benjamin Harrison welcomed Alice Sanger as the first female White House staff member. In 1905, Russia surrendered Port Arthur (later Lüshun, China) to the Japanese in the Russo-Japanese War. In 1920, the Palmer Raids occurred when between 3,000 and 10,000 people were arrested in more than 30 U.S. cities, accused of being foreign anarchists, communists, or radical leftists; the raids, led by Attorney General A. Mitchell Palmer, were viewed as the climax of that era’s so-called Red Scare. In 1935, the trial of Bruno Hauptmann began in New Jersey as he faced charges of kidnapping and murdering the infant son of famed American aviator Charles A. Lindbergh; he was found guilty and executed. In 1967, Republican politician Ronald Reagan, who previously worked as an actor, was sworn in as governor of California. In 1974, President Richard M. Nixon signed the Emergency Highway Energy Conservation Act, setting a new national maximum speed limit. In 2004, NASA’s spacecraft Stardust collected dust grains from the comet Wild 2, and the cometary material was later revealed to contain the amino acid glycine, an essential building block of life.
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