July 5th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits The Retirement Income ‘Low-Hanging Fruit’ Option Open to Plan Sponsors Plan sponsors and their retirement industry providers can take steps toward facilitating greater coordination and use of systematic withdrawals by plan participants. Compliance What Comes Next for Student Loan Borrowers? There is some good news for the financial wellness of debtors too. Most Read Administration From Auto-IRAs to PEPs: How Small Employers Can Offer Retirement Savings Compliance Bristol-Myers Squibb, State Street Targeted in Lawsuit Over PRT Administration No Matter How Small, Businesses Have Retirement Plan Options ECONOMIC EVENTS Construction spending during May was estimated at a seasonally adjusted annual rate of $1,925.6 billion, 0.9% above the revised April estimate of $1,909.0 billion, the Census Bureau reported. The May figure is 2.4% above the May 2022 estimate of $1,880.9 billion.  MARKET MIRROR Monday, the Dow rose 10.87 points (0.03%) to close at 34,418.47, the Nasdaq rose 28.85 points (0.21%) to close at 13,816.77 and the S&P 500 rose 5.21 points (0.12%) to close at 4,455.59. The Russell 2000 gained 8.05 points (0.43%) to close at 1,896.78, and the FT Wilshire 5000 Index gained 72.23 points (0.16%) to close at 44,955.84. The 10-year Treasury note decreased 1/32, bringing the yield to 3.858%. The 30-year Treasury bond decreased 1/32, bringing the yield to 3.869%. 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. RESEARCH 2023 Recordkeeping Survey Industry updates call for providers to add services-how much platform rebuilding must they do?  SMALL TALK ON THIS DATE: In 1950, Israel’s Parliament, the Knesset, unanimously passed the Law of Return, which granted Jews the freedom to immigrate to Israel and receive immediate citizenship. In 1954, Elvis Presley recorded “That’s All Right,” which became his first hit and helped give rise to rock and roll music. In 1971, the Twenty-Sixth Amendment to the U.S. Constitution was certified, granting suffrage to citizens age 18 years and older. In 1975, Arthur Ashe defeated Jimmy Connors in four sets of tennis at the 89th Wimbledon Championships. In 1989, the first episode of “Seinfeld” aired on NBC. In 1996, Dolly, a female Finn Dorset sheep, was born near Edinburgh, becoming the first successfully cloned mammal; her birth was not publicly revealed until the following year. In 2002, baseball player Ted Williams, who was the last player to bat .400 in Major League Baseball died in Inverness, Florida. In 2009, Swiss tennis player Roger Federer won a record-setting 15th Grand Slam singles title as he defeated Andy Roddick at the Wimbledon Championships. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 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