July 6th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits AI Has Potential to Improve Plan Design, Expand Retirement Plan Access Users may not be able to rely on artificial intelligence for financial advice yet, but technological developments are already making plan sponsors more efficient. Participants PSNC 2023: Boosting Participant Engagement By implementing automatic features, using targeted communications and speaking to participants on a personal level, plan sponsors will be more successful in driving engagement, according to experts. Most Read Compliance DOL Backs Companies on 401(k) Plan Forfeiture Complaints Compliance District Court Partially Strikes Down DOL’s Fiduciary Rule Opinions What Do Hidden Fees Really Mean in Your Health Plan? A Wake-Up Call for Employers ECONOMIC EVENTS New orders for manufactured durable goods in May, up three consecutive months, increased $5.0 billion or 1.8% to $288.4 billion, up from the previously published 1.7% increase, the Census Bureau reported. This followed a 1.2% April increase. Transportation equipment, also up three consecutive months, led the increase, $3.8 billion or 3.8% to $102.5 billion. New orders for manufactured nondurable goods decreased $3.5 billion or 1.2% to $289.6 billion. MARKET MIRROR Wednesday, the Dow fell 129.83 points (0.38%) to close at 34,288.64, the Nasdaq fell 25.12 points (0.18%) to close at 13,791.65 and the S&P 500 fell 8.77 points (0.20%) to close at 4,446.82. The Russell 2000 fell 23.87 points (1.26%) to close at 1,872.91 and the FT Wilshire 5000 Total Market Index fell 129.41 points (0.29%) to close at 44,826.43. The price of the 10-year Treasury note fell 28/32, bringing the yield to 3.938%. The price of the 30-year Treasury bond fell 1 1/32, bringing the yield to 3.931%.  Administration Salas O’Brien Plans to Address Pay, Workplace and Retirement Benefits Salas O’Brien has plotted changes to compensation and workplace benefits, with Lucas Hellmer as the new director of benefits and compensation. Benefits DOL Provides Cybersecurity Tips For Plan Sponsors, Participants Workers should log-in to their recordkeeper’s website periodically to check online retirement accounts, the Department of Labor's Lisa Gomez advises.  SMALL TALK ON THIS DATE: In 1928, the first full-length all-talking motion picture, Lights of New York, premiered in New York City. In 1933, the first Major League Baseball All-Star Game was held at Comiskey Park, in Chicago. In 1957, Paul McCartney met John Lennon for the first time, at a church event in Liverpool, England, where the latter’s band was performing; the duo would later form the Beatles. In 1957, with her defeat of Darlene Hard, Althea Gibson became the first Black tennis player to win the Wimbledon singles championship. In 1964, Nyasaland broke from British rule and became the independent country of Malawi within the Commonwealth of Nations. In 1995, Bosnian Serb forces attacked Srebrenica, Bosnia and Herzegovina, ultimately killing more than 7,000 Bosnian Muslim boys and men; the massacre was the worst episode of mass murder in Europe since World War II. In 2002, Serena Williams defeated her sister, Venus, to win her first Wimbledon singles title. 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