July 1st, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance Reading Between the Lines of the IB 95-1 Report Experts react to the DOL’s report, which might mean more than first appearances show about the future of PRT rulemaking. Data and Research Mounting Debt Causes Health Care Workers to Save Less for Retirement The TIAA Institute found that 86% of health care employees carry some form of debt, including about 24% with outstanding student loans.  Most Read 2025 Best in Class 401(k) Plans Compliance Will Supreme Court’s Cornell Decision Cause ‘Avalanche’ of Litigation? Compliance Supreme Court Asks Solicitor General to Weigh In on Home Depot 401(k) Case ECONOMC EVENTS Monday the Census Bureau will report construction spending in May. Wednesday, 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 in June. MARKET MIRROR Friday, the Dow lost 45.20 points (0.12%) to close at 39,118.86, the Nasdaq fell 126.08 points (0.71%) to close at 17,732.60 and the S&P 500 fell 22.39 points (0.41%) to close at 5,460.08. The Russell 2000 rose 9.35 points (0.46%) to close at 2,047.69, and the FT Wilshire 5000 Index fell 170.93 points (0.31%) to close at 54,470.66. The 10-year Treasury note fell 31/32, bringing the yield to 4.401%. The 30-year Treasury bond fell 2 2/32, bringing the yield to 4.560%. For the week ending June 28, the Dow fell 0.08%, the Nasdaq rose 0.24% and the S&P 500 fell 0.08%. The Russell 2000 rose 1.27%, and the FT Wilshire 5000 Index ended 1.27% higher. DEALS AND PEOPLE Retirement Industry People Moves New York Life Institutional Taps Grieco to lead nonqualified compensation distribution; Nationwide appoints Rodriguez to lead institutional sales for retirement; OneDigital promotes Bailey to head Northeast; and more.  RESEARCH 2024 Recordkeeping Survey The 2024 PLANSPONSOR Recordkeeping Survey, including provider rankings and profiles, is now online.  SMALL TALK ON THIS DATE: In 1863, the Battle of Gettysburg, one of the most important battles of the Civil War, began. In 1867, the Dominion of Canada was formed, subsequently celebrated as an annual Canadian holiday (its current name, Canada Day, was adopted in 1982) marked by parades, fireworks and the display of flags. In 1903, the first Tour de France began, and the race went on to become cycling’s most prestigious and difficult event. In 1963, the U.S. Postal Service instituted the Zone Improvement Plan Code, commonly known as the ZIP Code. In 1968, the U.S., the U.K., the U.S.S.R. and 59 other countries signed the Nuclear Non-Proliferation Treaty in an attempt to halt the spread of nuclear weapons. In 1979, Sony began selling its Walkman, a portable cassette player; an international sensation, the device changed the way people listened to music. In 1997, Hong Kong officially reverted to Chinese sovereignty, ending 156 years of U.K. rule. In 2002, the International Criminal Court—established to prosecute and adjudicate individuals accused of genocide, war crimes and crimes against humanity—began sittings. In 2004, motion-picture and stage actor Marlon Brando, the most celebrated of the method actors, died at age 80 in Los Angeles. In 2020, the North American Free Trade Agreement, a trade pact that took effect in 1994, was replaced by the United States–Mexico–Canada Agreement. 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