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PLANSPONSOR NEWSDASH LOGO July 25th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Employers Are Focused on Remodeling Workplace Benefits
Employers Are Focused on Remodeling Workplace Benefits
Among large employers that responded to a Mercer survey, 11% offer free employee-only coverage in at least one medical plan option and another 11% are considering it.
Data and Research
Annuity Sales Spike in Second Quarter
Fixed annuity products propelled growth for the period.
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
Tuesday, the Conference Board will report the Consumer Confidence Index for July and the Census Bureau will report new home sales for June. Wednesday, the Census Bureau will report new orders for manufactured durable goods in 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.

MARKET MIRROR
Friday, the Dow slipped 137.61 points (0.43%) to close at 31,899.20, the Nasdaq dropped 225.50 points (1.87%) to 11,834.11 and the S&P 500 sagged 37.32 points (0.93%) to close at 3,961.63. The Russell 2000 lost 29.81 points (1.62%) to close at 1,806.88 and the Wilshire 5000 dropped 455.06 points (1.14%) to 39,472.58.

The price of the 10-year Treasury note was unchanged, and the yield was lowered to 2.760%. The price of the 30-year Treasury bond increased 1 32/32, bringing its yield down to 2.977%.

For the week ending July 22, the Dow decreased 1.95%, the Nasdaq fell 3.33% and the S&P 500 lost 2.56%. The Russell 2000 gained 3.58% and the Wilshire 5000 finished 2.79% higher.
Compliance
TriHealth Excessive Fee Ruling Partly Remanded by 6th Circuit
The short appellate ruling notes that new precedents have overtaken some of the debates in the case.
DEALS AND PEOPLE
Retirement Industry People Moves
Lincoln Financial Group names workplace solutions head; T. Rowe Price adds two senior executives to its institutional DC business; new attorney joins The Wagner Law Group; and more.
SMALL TALK
ON THIS DATE: In 1759, British forces defeated a French army at Fort Niagara in Canada. In 1814, near Niagara Falls, British troops commanded by General Phineas Riall thwarted an invasion of Canada by a U.S. force under General Jacob Brown in the Battle of Lundy’s Lane during the War of 1812. In 1868, Congress formed the Wyoming Territory. In 1898, during the Spanish-American War, U.S. forces launched their invasion of Puerto Rico. In 1909, French aviator Louis Bleriot flew across the English Channel in a monoplane. He traveled from Calais to Dover in 37 minutes and was the first man to fly across the channel. In 1978, Louise Brown, the first human conceived using in vitro fertilization, was born in England. In 1984, Soviet cosmonaut Svetlana Yevgenyevna Savitskaya became the first woman to walk in space. In 2000, a Concorde supersonic airplane crashed outside Paris, killing all 109 people on board and four others on the ground; the event may have hastened the end of all Concorde operations three years later. In 2007, Indian lawyer and politician Pratibha Patil was sworn in as president of India, becoming the first woman to hold the office.
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