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PLANSPONSOR NEWSDASH LOGO July 11th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Experts Analyze the Finalized Union Pension Relief Funding Framework
Experts Analyze the Finalized Union Pension Relief Funding Framework
A handful of important changes were made this week to the Pension Benefit Guaranty Corporation’s Special Financial Assistance program for struggling union pensions.
Investing
Real Asset Allocations in Target-Date Funds
Real asset allocations are important for select plan participants.
Most Read
Benefits
Defined Benefit Plans May Have New Life
Ask the Experts
Can an Alternate Payee Designate a Beneficiary?
Data and Research
Retirement Plan Provider Technology Investments Show Success
ECONOMIC EVENTS
Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6%, the Bureau of Labor Statistics reported. Notable job gains occurred in professional and business services, leisure and hospitality, and health care.

Wednesday, the Bureau of labor Statistics will reveal the consumer price index for June. Thursday, Freddie Mac will report average interest on 15-year and 30-year fixed-rate mortgages and the Department of Labor will report about claims for unemployment insurance. Friday, the Census Bureau will report about business inventories for May and retail sales for June.   
MARKET MIRROR
Friday, the Dow slipped 46.40 points (0.15%) to 31,338.15, the Nasdaq gained 13.96 points (0.12%) to 11,635.31 and the S&P 500 slumped 3.24 points (0.08%) to 3,899.38. The Russell 2000 sagged 0.2399 points (0.01%) to 1,769.36 and the Wilshire 5000 slipped 34.12 points (0.09%) to 38,850.46.

The price of the 10-year Treasury note fell 6/32 bringing its yield up to 3.078%. The price of the 30-year Treasury bond decreased 1 2/32 raising its yield up to 3.253%.
Administration
How the Great Resignation Is Impacting Plan Sponsors
Higher-than-usual turnover is affecting investment committees, benefits teams and service providers.
Has Vesting Gotten Controversial?
Education and communication are key to getting plan sponsors and participants on the same page.
DEALS AND PEOPLE
Retirement Industry People Moves
First Trust Capital Partners acquires direct indexing firm; New York Life appoints head of retail annuities; Security Benefit appoints chief operating officer; and more.
Data and Research
Two-Thirds of Retirees Carry Major Financial Regrets
A new EBRI analysis shows retirees without major financial regrets tend to report substantially higher liquid financial assets, as expected, but there are ways to feel secure beyond accumulating excess assets.
SMALL TALK
ON THIS DATE: In 1804, outraged over disparaging remarks that Alexander Hamilton had allegedly made at a dinner party, Aaron Burr challenged his longtime rival to a duel, and fatally shot Hamilton in Weehawken, New Jersey. In 1863, angered by practices in Civil War conscription, New York City workers rioted and attacked draft headquarters. In 1914, George Herman (“Babe”) Ruth played in his first Major League Baseball game, for the Boston Red Sox. In 1936, the Triborough Bridge (later renamed the Robert F. Kennedy Bridge), designed by David Barnard Steinman, opened in New York City. In 1960, American author Harper Lee’s To Kill a Mockingbird was published and became a classic, noted for its sensitive treatment of a child’s awakening to racism and prejudice in the South. In 1995, President Bill Clinton established full diplomatic relations with Vietnam. In 2007, American first lady (1963–69) and environmentalist Lady Bird Johnson—the wife of Lyndon B. Johnson, 36th president of the United States—died in Texas.
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