July 20th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Compliance Industry Players Want Mandatory Roth Catch-Up Implementation Delayed The list of industry groups calling for more time on Roth catch-ups is growing rapidly. Compliance DOL Considers Changing Standards for Annuity Provider Selection Interpretative Bulletin 95-1 could be in for an overhaul this year or next. Most Read Compliance House Passes Legislative Package Allowing CITs in 403(b) Retirement Plans  Compliance Fidelity-Pontera Dispute Reveals Tension Between Choice, Obligation Ask the Experts Can an Employer Match Catch-Up Contributions? ECONOMIC EVENTS Privately-owned housing starts in June 2023 were at a seasonally adjusted annual rate of 1,434,000, the Census Bureau reported. This is 8.0% below the revised May 2023 estimate of 1,559,000. MARKET MIRROR Monday, the Dow rose 109.28 points (0.31%) to close at 35,061.21, the Nasdaq rose 4.42 points (0.03%) to close at 14,358.02 and the S&P 500 rose 10.74 points (0.24%) to close at 4,565.72. The Russell 2000 gained 8.82 points (0.45%) to close at 1,984.89, and the FT Wilshire 5000 Index gained 126.88 points (0.28%) to close at 46,214.98. The price of the 10-year Treasury note fell 1/32, bringing the yield to 3.754%. The price of the 30-year Treasury bond fell 2/32, bringing the yield to 3.843%. Administration Indiana Erector Set Manufacturer’s Former Chairman Sued by ESOP Participants The plaintiffs allege fiduciary breaches occurred in a leveraged buyout after the company founder’s death. Deals and People Financial Finesse Invests in OfColor to Empower Employees of Color The financial wellness platforms aim to address the ‘soaring rates of financial stress among employees of color’ with this partnership. SMALL TALK ON THIS DATE: In 1894, the Pullman Strike, a widespread railroad strike in the United States, ended shortly after President Grover Cleveland ordered federal troops to Chicago. In 1917, the Corfu Declaration was issued, calling for the establishment of a unified Yugoslav state following World War I. In 1944, during World War II, German military leaders attempted to assassinate Adolf Hitler in the July Plot. In 1968, in Chicago at Soldier Field, the first Special Olympics was held, and some 1,000 athletes—all of whom had intellectual disabilities—participated. In 1969, the Eagle lunar landing module, carrying U.S. astronauts Neil Armstrong and Edwin “Buzz” Aldrin, landed on the Moon, and several hours later Armstrong became the first person to set foot on its surface. In 1973, actor and martial-arts expert Bruce Lee died in Hong Kong at age 32 from a brain edema possibly caused by a reaction to a prescription painkiller. In 1976, the Viking 1 lander touched down at a flat lowland region in Mars’ northern hemisphere. In 2013, journalist Helen Thomas, who broke through a number of barriers for women reporters and was known especially for her coverage of U.S. presidents, died at age 92. 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