July 16th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance Insurers Continue Effort for Retirement Security Rule Injunction Nine insurance industry organizations and representatives have responded to the DOL’s rebuttal of the groups’ litigation against the rule as September implementation date nears. Data and Research Pensions Have ‘Critical’ Role in Strengthening Public Safety Workforce Defined benefit pensions help with the three Rs of workforce management: recruitment, retention and retirement, per the National Institute on Retirement Security.   Most Read Compliance California District Court Dismisses Forfeitures Class Action Against Kaiser Foundation Benefits Bill Would Expand Definition of Federal Law Enforcement for Retirement Purposes Compliance IRS Eases Rules on Pension Plans’ Use of Custom Mortality Tables MARKET MIRROR Monday, the Dow rose 210.82 points (0.53%) to close at40,211.72 , the Nasdaq rose 74.12points (0.40%) to close at 18,472.57and the S&P 500 rose 15.87 points (0.28%) to close at 5,631.22. The Russell 2000 rose 38.76 points (1.80%) to close at 2,187.02 and the FT Wilshire 5000 Index rose 220.73 points (0.39%) to close at 56,304.25. The 10-year Treasury note fell 4/32, bringing the yield to 4.234%. The 30-year Treasury bond fell 1 1/32, bringing the yield to 4.460%. Data and Research State, Municipal Retirement Systems Remain Stuck in ‘Pension Debt Paralysis’ Equable projected that state and local public pension plans will have an average funded status of 80.6% in 2024.  Fiduciary Forum Filing a VFC Application? What plan sponsors should know in advance. SMALL TALK ON THIS DATE: In 1862, journalist Ida B. Wells-Barnett, leader of a crusade against lynching, was born in Holly Springs, Mississippi. In 1882, first lady from 1861 to 1865 Mary Todd Lincoln—wife of Abraham Lincoln, 16th president of the U.S.—died at age 63 in Springfield, Illinois. In 1935, the world’s first parking meters were installed in Oklahoma City; the device, which sought to ease congestion, was designed by Carl C. Magee. In 1941, baseball player Joe DiMaggio set a Major League Baseball record for most consecutive games (56) with a hit. In 1945, the U.S. tested the first atomic bomb near Alamogordo, New Mexico, and the following month dropped atomic bombs on Hiroshima and Nagasaki in Japan, hastening the end of World War II. In 1951, J.D. Salinger’s “The Catcher in the Rye,” which centered on the sensitive, rebellious adolescent Holden Caulfield, was published. In 1965, the Mont Blanc Tunnel officially opened, linking France and Italy; at the time, it was the world’s longest vehicular tunnel, spanning 7.3 miles. In 1969, Apollo 11 lifted off from NASA’s John F. Kennedy Space Center in Florida, and four days later two of its astronauts, Neil Armstrong and Buzz Aldrin, became the first humans to set foot on the Moon. In 1979, Saddam Hussein became president of Iraq, and his brutal rule, which lasted 24 years, was marked by costly and unsuccessful wars with neighboring countries as well as atrocities against the Iraqi people. In 1999, publisher and lawyer John F. Kennedy, Jr., the only son of U.S. President John F. Kennedy and first lady Jacqueline Kennedy, died after the airplane he was piloting crashed off Martha’s Vineyard, Massachusetts; also killed were his wife Carolyn Bessette Kennedy and her sister Lauren Bessette. In 2004, Chicago officially opened its Millennium Park, which featured  fountains, eye-catching sculptures and a large outdoor concert facility designed by architect Frank Gehry. In 2017, filmmaker George A. Romero died at age 77 in Toronto, Ontario. 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