June 10th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Benefits PSNC 2024: Essential QDIA Considerations Plan sponsors may need additional time and processes to consider qualified default investment alternatives, as various TDFs, managed accounts and retirement income options are all in play. Compliance AT&T Seeks Dismissal From Two Lawsuits Targeting PRT Deal with Athene The telecommunications company argued that allegations that it failed in its fiduciary duties are misplaced and should fall to its independent fiduciary, SSGA. Most Read Data and Research Social Security Trust Funds Now on Pace to Deplete by 2034 Compliance What’s in, What’s Out of Senate’s GOP Tax Plan Compliance Federal Judge Dismisses J.P. Morgan 401(k) Funds Forfeiture Case ECONOMIC EVENTS Total nonfarm payroll employment increased by 272,000 in May, and the unemployment rate changed little at 4.0%, the Bureau of Labor Statistics reported. Employment continued to trend up in several industries, led by health care; government; leisure and hospitality; and  professional, scientific and technical services. Wednesday, the Bureau of Labor Statistics will report the Consumer Price Index for May. Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the Bureau of Labor Statistics will report the producer price index for May. MARKET MIRROR Friday, the Dow fell 87.18 points (0.22%) to close at 38,798.99, the Nasdaq fell 39.99 points (0.23%) to close at 17,133.13 and the S&P 500 fell 5.97 points (0.11%) to close at 5,346.99. The Russell 2000 fell 22.89 points (1.12%) to close at 2,026.55, and the FT Wilshire 5000 Index fell 114.50 points (0.21%) to close at 53,376.30. The 10-year Treasury note rose 5/32, bringing the yield to 4.439%. The 30-year Treasury bond rose  5/32, bringing the yield to 4.558%. For the week ending June 7, the Dow rose 0.29%, the Nasdaq rose 2.38% and the S&P 500 rose 1.32%. The Russell 2000 fell 2.11%, and the FT Wilshire 5000 Index finished 0.95% higher. DEALS AND PEOPLE Retirement Industry People Moves Ameritas announces senior vice president of retirement plans; Aon appoints Reese as next CFO; Ascensus restructures sales team; and more. Benefits 146 PRT Contracts Were Sold in Q1 The contracts, totaling $14.6 billion in premiums, represent a 26% increase from Q1 2023 and an all-time record, LIMRA reports. SMALL TALK ON THIS DATE: In 1772, Rhode Islanders boarded and sank the British revenue cutter Gaspee in Narragansett Bay. In 1819, Gustave Courbet, French painter and leader of the Realist movement, was born in Ornans, France. In 1940, Italy, under the rule of Benito Mussolini, declared war against France and the U.K, entering World War II. In 1977, James Earl Ray, the convicted killer of civil rights leader Martin Luther King, Jr., escaped from a prison in Tennessee; he was captured some 54 hours later. In 2007, HBO aired the last episode of its landmark TV series “The Sopranos,” which centered on Mafia boss and family man Tony Soprano (played by James Gandolfini). In 2016, Canadian ice hockey player Gordie Howe—one of the game’s best players, known for his extraordinary puck handling, wrist shots, and legendary toughness—died in Toledo, Ohio. 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