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PLANSPONSOR NEWSDASH LOGO January 30th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
New DOL Rule on ESG Investing in Retirement Plans Draws Republican-Led Legal Challenge
New DOL Rule on ESG Investing in Retirement Plans Draws Republican-Led Legal Challenge
The rule is scheduled to take effect on Monday, but 25 state attorneys general and three fossil fuel advocates are seeking an injunction to block it.
Compliance
Ironworker and Plasterer Pension Funds Receive SFA Assistance From PBGC
The two construction pension plans will receive more than $70 million in combined funds.
Most Read
Compliance
Bills to Nullify the Retirement Security Rule Proposed in Congress
Administration
Dealing with Stress, Burnout in the HR, Benefits Department
Deals and People
BlackRock’s Retirement Head Ackerley Moving to Adviser Role
ECONOMIC EVENTS
Tuesday, the Conference Board will report the Consumer Confidence Index for January. Wednesday, the Census Bureau will report construction spending for December. Thursday, the Census Bureau will report new factory orders for December, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report the unemployment rate for January.  
MARKET MIRROR
Friday, the Dow gained 28.67 points (0.08%) to close at 33,978.08, the Nasdaq gained 109.30 points (0.95%) to close at 11,621.71 and the S&P 500 increased 10.13 points (0.25%) to close at 4,070.56. The Russell 2000 gained 8.39 points (0.44%) to close at 1,911.46 and the Wilshire 5000 increased 154.53 points (0.38%) to close at 40,638.24.

The price of the 10-year Treasury note increased 1/32, bringing the yield to 3.512%. The price of the 30-year Treasury bond was unchanged, bringing the yield to 3.621%.

For the week ending January 27, the Dow gained 1.81%, the Nasdaq increased 4.32% and the S&P 500 gained 2.47%. The Russell 2000 gained 2.36% and the Wilshire 5000 finished 2.66% higher.
DEALS AND PEOPLE
Retirement Industry People Moves
SageView adds to plan sponsor relationships team; MissionSquare Retirement hires head of consultant relations; Vestwell names regional VP for Midwestern states; and more.
PRODUCTS
Investment Product and Service Launches
Putnam launches ETFs series; Broadridge releases ESG disclosure, data and benchmarking tool; Lincoln adds digitally available life insurance product; and more.
SURVEYS
CIO’s Transition Management Survey
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.
SMALL TALK
ON THIS DATE: In 1847, San Francisco was renamed in honor of St. Francis of Assisi, replacing its name under Mexican rule, Yerba Buena, which literally means, “good herb.” In 1933, President Paul von Hindenburg named Adolf Hitler chancellor of Germany. In 1945, the MV Wilhelm Gustloff, a German ship transporting both military and non-military personnel, was sunk by a Soviet submarine, resulting in the deaths of an estimated 9,000 people, the largest death toll from a single ship in history. In 1948, Indian leader Mahatma Gandhi—considered the father of his country and internationally esteemed for his doctrine of nonviolent protest, satyagraha, to achieve political and social progress—was assassinated. In 1956, an unidentified suspected white supremacist terrorist bombed the Montgomery home of Dr. Martin Luther King Jr. In 1972, in Londonderry, Northern Ireland, 13 unarmed civil rights demonstrators were killed by British Army paratroopers in an event that became known as “Bloody Sunday.” In 1995, flooding forced the evacuation of more than 100,000 people from low-lying areas of the Netherlands. In 2011, California became the first state to celebrate Fred Korematsu Day, which honored the Japanese American activist who was convicted in 1942 of violating an exclusion order requiring him to relocate; his subsequent legal appeals were denied.
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