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PLANSPONSOR NEWSDASH LOGO July 14th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Investing
401(k) Investors Favored Fixed-Income Funds in June
401(k) Investors Favored Fixed-Income Funds in June
All but three days in the month had net trading flows going from equities to fixed income.
Compliance
Parties File Settlement Agreement in MEP ERISA Lawsuit
The gross settlement amount tops $1 million, of which a third can be used to pay the plaintiffs’ attorneys’ fees.
Most Read
Compliance
More TDF Underperformance Lawsuits Emerge Across US
Data and Research
Plan Sponsors and Participants Cite Different ‘Important’ Benefits
Compliance
Managed Account Fees Challenged in Latest ERISA Lawsuit
ECONOMIC EVENTS
In June, the Consumer Price Index for All Urban Consumers increased 1.3% on a seasonally adjusted basis after rising 1.0% in May, the Bureau of Labor Statistics reported. Over the last 12 months, the all items index increased 9.1% before seasonal adjustment.

The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors. The energy index rose 7.5% over the month and contributed nearly half of the all items increase, with the gasoline index rising 11.2% and the other major component indexes also rising. The food index rose 1.0% in June, as did the food at home index.
MARKET MIRROR
Wednesday, the Dow lost 208.54 points (0.67%) to 30,772.79, the Nasdaq slumped 17.15 points (0.15%) to 11,247.58 and the S&P 500 decreased 17.21 points (0.45%) to close at 3,801.59. The Russell 2000 slipped 2.15 points (0.12%) to 1,726.04 and the Wilshire 5000 sagged 146.97 points (0.39%) to 37,874.81.

The price of the 10-year Treasury note increased 5/32 lowering the yield down to 2.931%. The price of the 30-year Treasury bond increased 1 5/32 lowering the yield down to 3.087%.
Data and Research
Biggest Investor Worries Are Inflation and Recession Risk
Investors put heavier weight on retirement income protection than financial professionals.
Employers Rethink Workplace Benefits
In the past year, 54% of employers have reviewed or changed their leave policies, NFP finds 
EVENTS
Webinar: Elements to Help Participants Prepare for Retirement
Join PLANSPONSOR and a panel of experts for the July installment of the Plan Progress webinar series during which the elements to help participants prepare for retirement will be discussed.
SMALL TALK
ON THIS DATE: In 1789, a mob advanced on the Bastille in Paris, demanding the arms and munitions stored there, but, when the guards resisted, the crowd captured the prison. In 1798, Congress passed the Sedition Act. The act made it a federal crime to write, publish, or utter false or malicious statements about the U.S. government. In 1881, gunfighter Billy the Kid was shot and killed by Sheriff Pat Garrett. In 1917, 16 women from the National Women’s Party were arrested while picketing the White House demanding universal women’s suffrage. They were charged with obstructing traffic. In 1951, The George Washington Carver National Monument in Joplin, Missouri, became the first national park to honor an African American. In 1968, baseball great Hank Aaron hit his 500th career home run. In 2013, the world’s last telegram was sent as India’s state-run telecommunications company ended its telegraph service. In 2015, NASA’s New Horizons spacecraft became the first space mission to explore Pluto.
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