July 27th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Workplace Savers Feel ‘Off Track’ to Retire, Seek Sources of Guaranteed Income Increased market volatility, high inflation, fears of a recession and a lack of retirement income were cited as contributing factors to savers’ low retirement confidence in a new BlackRock study.  Compliance Upcoming EBSA Webcast Will Focus on Helping Women Save for Retirement The August 16 webinar will focus on challenges and circumstances women face when preparing for retirement, as well as how to make the most of an employer-provided plan. Most Read Compliance House Passes Legislative Package Allowing CITs in 403(b) Retirement Plans  Compliance Fidelity-Pontera Dispute Reveals Tension Between Choice, Obligation Compliance Trump Signs Executive Order Targeting ‘Politically-Motivated’ Proxy Advisers  ECONOMIC EVENTS Sales of new single-family houses in June 2023 were at a seasonally adjusted annual rate of 697,000, the Census Bureau reported. This is 2.5% below the revised May 2023 estimate of 715,000 and 23.8% above the June 2022 estimate of 563,000. MARKET MIRROR Wednesday, the Dow rose 85.05 points (0.23%) to close at 35,520.12, the Nasdaq lost 17.27 points (0.12%) to close at 14,127.28 and the S&P 500 lost 0.71 points (0.02%) to close at 4,566.75. The Russell 2000 rose 14.24 points (0.72%) to close at 1,980.36, and the FT Wilshire 5000 Index rose 26.80 points (0.06%) to close at 46,178.61. The price of the 10-year Treasury note fell 2/32, bringing the yield to 3.865%. The price of the 30-year Treasury bond was unchanged, bringing the yield to 3.940%. Compliance Mitsubishi Chemical Group Sued by Former Worker The manufacturer was targeted for alleged fiduciary breaches in the management, operation and administration of the plan, according to the complaint. Benefits Equity in Plan Design Starts With Understanding Demographics, Expanding Eligibility To provide broader and more equitable access to retirement savings for all participants, plan sponsors should consider auto features, new SECURE 2.0 provisions, and tracking demographics to make adjustments, according to researchers. SMALL TALK ON THIS DATE: In 1803, the July Revolution began in France, leading to the abdication of Charles X and bringing Louis-Philippe to the throne. In 1909, the world’s first military airplane, the Wright Military Flyer, developed by Wilbur and Orville Wright completed one of the final qualifying flights for its sale to the U.S. Army Signal Corps. In 1919, the Chicago Race Riot of 1919 erupted after a young Black man was stoned and drowned in Lake Michigan for swimming in an area reserved for whites. In 1946, Avant-garde writer Gertrude Stein, whose Paris home was a salon for leading artists and writers, died at age 72. In 1949, the world’s first jet-propelled airliner, the British De Havilland Comet, made its maiden test flight in England. The jet engine revolutionized the airline industry, shrinking air travel time in half by enabling planes to climb faster and fly higher. In 1953, the armistice agreement ending the Korean War was signed at P’anmunjŏm in central Korea. In 1996, a pipe bomb exploded in Olympic Centennial Park in Atlanta, killing one person and injuring 111 in the first terrorist attack at the Olympics since the 1972 games in Munich, West Germany. In 2003, British-born American entertainer and comic actor Bob Hope, who was known for his rapid-fire delivery of jokes and one-liners, died at age 100.  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