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July 19th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $689.5 billion, up 0.2% from the previous month, and up 1.5% above June 2022, the Census Bureau reported. Total sales for the April 2023 through June 2023 period were up 1.6% from the same period a year ago. Retail trade sales were up 0.2% from May 2023, and up 0.5% above last year. Nonstore retailers were up 9.4% from last year, while food services and drinking places were up 8.4% from June 2022.
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| MARKET MIRROR |
Tuesday, the Dow gained 366.58 points (1.06%) to close at 34,951.93, the Nasdaq gained 108.69 points (0.76%) to close at 14,353.64 and the S&P 500 gained 32.19 points (0.71%) to close at 4,554.98. The Russell 2000 rose 24.80 points (1.27%) to close at 1,976.07, and the FT Wilshire 5000 Index rose 345.12 points (0.75%) to close at 46,088.10.
The price of the 10-year Treasury note was unchanged, bringing the yield to 3.790%. The price of the 30-year Treasury bond decreased 1/32, bringing the yield to 3.899%.
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ON THIS DATE: In 1848, the women’s suffrage movement in the U.S. was launched with the opening of the Seneca Falls Convention, which sought to gain certain rights and privileges for women, notably the right to vote. In 1870, French emperor Napoleon III declared war on Prussia, beginning the Franco-Prussian War. In 1903, French bicyclist Maurice Garin won the first Tour de France, which covered 1,508 miles. In 1947, Aung San, Burmese nationalist leader and prime minister, was assassinated in the city now known as Yangon, Myanmar. In 1980, the Summer Olympics opened in Moscow. Some 60 countries refused to attend because of the Soviet Union’s invasion of Afghanistan in 1979; the largest boycott in history of the modern Olympic movement. In 2007, the first episode of “Mad Men” aired, and the series, which starred Jon Hamm, quickly became a hit, noted for its nuanced representation of social life in the 1960s and for its stylish, visual flair. In 2014, actor James Garner, best known for his roles in the television series “Maverick” and “The Rockford Files,” died at age 86.
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| Industry Intel Roundup—Featured Webinars | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. |  | | SPONSORED BY: Principal | June 24, 2025 | | Pension Risk: Strategies to Help Manage Market Volatility | | In recent years, many defined benefit plan sponsors have maintained significant allocations to equity investments, experiencing asset growth. Now, as market volatility threatens funding ratio gains, it’s important to consider strategies to help lock in DB plan funding gains and reduce investment risk.
Get perspective and insights from defined benefit leaders as they discuss:
What to consider when implementing or adjusting a liability-driven investing (LDI) strategy
When pension risk transfer (PRT) may be an option
How consolidating services with one provider could help improve risk alignment
In a challenging time for pension plan management, you can prepare to de-risk when the timing is right. |
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| | | SPONSORED BY: Principal | May 6, 2025 | | Trump’s first 100 days: What could be next for retirement policy | | What could the first 100 days of a second Trump administration mean for retirement security? Hear from our experienced policy team as they analyze key tax and regulatory changes that could shape the future of retirement planning.
We’ll cover:
The push to extend the Tax Cuts and Jobs Act (TCJA) and its funding challenges
The potential impact on retirement tax incentives
Executive orders and regulatory updates under SECURE 2.0
Stay informed and gain insights to navigate the evolving retirement landscape.
PLANSPONSOR is not an affiliate of any company of the Principal Financial Group®.
Insurance products and plan administrative services provided through Principal Life Insurance Company®. Securities offered through Principal Securities, Inc., member SIPC, and/or independent broker-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, Iowa 50392.
Principal®, Principal Financial Group®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States, and are trademarks and service marks of Principal Financial Services, Inc., in various countries around the world.
© 2025 Principal Financial Services, Inc., 711 High Street, Des Moines, Iowa 50392
PQ14034 | 4388076-042025 | 04/2025 |
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|  | | SPONSORED BY: Corebridge | February 25, 2025 | | Impacts on retirement planning: Taking action on the latest changes to Medicare and Social Security | | With the recent changes in nearly every part of retirement, it can be challenging for employers—and their employees—to keep up. We seem to be in a particularly active time with new laws coming on the books, existing law sections rolling out, and changes from every corner.
In this webinar, you will get the latest information and updates to Social Security and Medicare. There is a swirl of activity in both programs, causing more concern than ever about the viability of Social Security. Plus new, hidden costs in Medicare drug plans have taken folks by surprise.
You’ll also see how these changes impact employees as they adjust their plans for retirement. Planning with high costs of goods and services along with complex law changes puts added pressure on employees’ ability to save sufficiently for retirement. |
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|  | | SPONSORED BY: Lincoln Financial Group | February 4, 2025 | | Benefits at Work: How Financial Wellness Fuels Productivity | | Today’s employees seek meaningful benefits that address their holistic health and financial well-being. To meet their expectations, 80% of employers surveyed agree that a well-rounded, competitive benefits offering is critical, according to our 2024 Small Business Owner survey. More than ever, small businesses need to invest in programs that strengthen employee productivity, loyalty, and morale.
By joining this complimentary webcast, you’ll learn how to:
• Engage today's workforce, including the changing values of millennials and Gen Z, lingering financial concerns, and the key factors driving talent attraction and retention
• Gain a competitive edge for employees with comprehensive benefits, including voluntary employee benefits coverage, retirement savings plans, and financial wellness solutions
• Provide benefits education and wellness programs to help employees take full advantage of their benefits
• Deliver a holistic employee experience with simple plan administration by using a single-source benefits provider |
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|  | | SPONSORED BY: Edelman | December 17, 2024 | | Managed Accounts as QDIA: Which Approach Works Best for Your Participants? | | Plan sponsors have multiple tools at their disposal to help deliver the right solution at the right time for their participants while maintaining their fiduciary responsibilities. Many plan sponsors have adopted managed accounts as a QDIA, whether for targeted segments of their participant population or as a broader approach. As the #1 DC managed account provider since 2008 (per Cerulli Associates), Edelman Financial Engines is excited to host this webinar and discussion.
This webinar will cover:
Different ways that plan sponsors use managed accounts as a default investment option, and the impact on participants, addressing legal and regulatory concerns with different default structures, how managed accounts and target date funds fit together in a Dual QDIA structure and insights from a leading plan sponsor that uses managed accounts as a default to understand their decision-making process and how the solution improves participant outcomes. |
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