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| Investing | |
| 401(k) Participant Transfers Increase in May | |
| Falling equity returns accelerated the trend this year of participants moving into fixed income investments, according to Alight Solutions.Read more > | |
| Economic Events | |
In May, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1, seasonally adjusted; rising 1.8% over the year, not seasonally adjusted, according to the Bureau of Labor Statistics. The index for all items less food and energy rose 0.1% in May, seasonally adjusted; up 2% over the year, not seasonally adjusted. Real average hourly earnings increased 0.2% over the month in May, seasonally adjusted. Average hourly earnings increased 0.2% and CPI-U increased 0.1%. Real average weekly earnings increased 0.1% over the month. | |
| Market Mirror | |
Wednesday, the Dow was down 43.68 points (0.17%) at 26,004.83, the NASDAQ lost 29.85 points (0.38%) to finish at 7,792.72, and the S&P 500 closed 5.88 points (0.20%) lower at 2,879.84. The Russell 2000 inched up 0.05% to 1,519.79, and the Wilshire 5000 decreased 52.41 points (0.18%) to 29,622.14. The price of the 10-year Treasury note was up 2/32, decreasing its yield to 2.118%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 2.618%. | |
| Benefits & Administration | |
| Entry-Level Employees to Top Executives Need HSA Education | |
| Employee education about health savings accounts (HSAs) remains the dominant concern of plan sponsors, and plan sponsors struggle to tell employees how to allocate their savings dollars, according to a survey from PSCA.Read more > | |
| Study Finds Benefits of ESOPs for Employees and Employers | |
| Among other things, workers with employee ownership experienced layoffs six times less often than those without, and employee turnover can be three times lower in employee-owned companies, according to the study.Read more > | |
| The Humble 401(k) Plays Outsized Role for Many | |
| Originally conceived as a supplementary savings vehicle to complement pensions, 401(k) plans now form the core of many American’s hopes and expectations for the long-term financial future. But are they using it effectively?Read more > | |
| Small Talk | |
| ON THIS DATE: In 1825, Walter Hunt patented the safety pin. He then then sold the rights for $400. In 1866, the 14th Amendment to the U.S. Constitution was passed by Congress. The amendment was designed to grant citizenship to and protect the civil liberties of recently freed slaves. It did this by prohibiting states from denying or abridging the privileges or immunities of citizens of the United States, depriving any person of his life, liberty, or property without due process of law, or denying to any person within their jurisdiction the equal protection of the laws. In 1888, Congress created the Department of Labor. In 1944, Marvin Camras patented the wire recorder. In 1966, the landmark Miranda v. Arizona decision was issued by the U.S. Supreme Court. The decision ruled that criminal suspects had to be informed of their constitutional rights before being questioned by police. In 1967, Solicitor General Thurgood Marshall was nominated by President Lyndon B. Johnson to become the first black justice on the U.S. Supreme Court. In 1979, Sioux Indians were awarded $105 million in compensation for the U.S. seizure in 1877 of their Black Hills in South Dakota. In 1994, a jury in Anchorage, Alaska, found Exxon Corp. and Captain Joseph Hazelwood to be reckless in the Exxon Valdez oil spill. | |
| SURVEY SAYS: I love going to the beach. My best vacation was two years ago when I went on a long cruise stopping in Belize, Honduras and Mexico. This week, I’d like to know what types of places do you like to go on vacation? And please share the best vacation you’ve ever had. I and other readers will be waiting to see what we can add to our list. You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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