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June 14th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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The Consumer Price Index for All Urban Consumers rose 0.1% in May on a seasonally adjusted basis, after increasing 0.4% in April, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all items index increased 4.0% before seasonal adjustment. The index for shelter was the largest contributor to the monthly all items increase, followed by an increase in the index for used cars and trucks.
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| MARKET MIRROR |
Tuesday, the Dow rose 145.79 points (0.43%) to close at 34,212.12, the Nasdaq rose 111.40 points (0.83%) to close at 13,573.32 and the S&P 500 rose 30.08 points (0.69%) to close at 4,369.01. The Russell 2000 gained 23.12 points (1.23%) to close at 1,896.33, and the FT Wilshire 5000 Index gained 334.20 points (0.76%) to close at 44,134.47.
The price of the 10-year Treasury note decreased 29/32, bringing the yield to 3.828%. The price of the 30-year Treasury bond decreased 30/32, bringing the yield to 3.928%.
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EVENTS
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2023 PS Plan Progress Webinar Series: Provider Due Diligence
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Join PLANSPONSOR June 15 for a discussion about the changing provider landscape, what factors need to be considered in the selection and monitoring of service providers and plan advisers and tools that can be used both for searches and to document that sponsors have met their fiduciary duty. 
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ON THIS DATE: In 1777, the Continental Congress approved the Stars and Stripes as the first national flag of the U.S. In 1811, author Harriet Beecher Stowe—whose novel Uncle Tom’s Cabin fueled antislavery sentiment and was cited among the causes of the Civil War—was born in Litchfield, Connecticut. In 1940, the first transport of Polish political prisoners arrived at Auschwitz, which became Nazi Germany’s largest concentration, extermination and slave-labor camp, where more than one million people died. In 1963, the manned Soviet spacecraft Vostok 5 was launched, and two days later Vostok 6 was sent into orbit carrying cosmonaut Valentina V. Tereshkova, the first woman to travel in space. In 1969, German tennis player Steffi Graf was born. She became the first tennis player to achieve the Golden Slam by winning all major singles titles and the Olympic gold medal in the same calendar year. In 2009, basketball coach Phil Jackson won a record-setting 10th NBA championship, as the Los Angeles Lakers defeated the Orlando Magic.
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| Industry Intel Roundup—Featured Webinars | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. |  | | September 19, 2024 | | Financial Wellness | | Plan sponsors, advisers and policy experts will offer suggestions for how best to define and measure the financial wellness of participants and drive financial confidence. The panel will also review how they evaluate the myriad new offerings appearing as a result of the voluntary benefits provisions of SECURE 2.0. Attendees will come away with tangible metrics for determining which programs will offer the most useful and valuable programs for their employees. |
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|  | | SPONSORED BY: Corebridge Financial | September 30, 2024 | | How College Planning Fits Into Financial Wellness | | When it comes to the college search, you’ll often hear talk about finding the right “fit.” Usually that means academic and social fit, but a key piece of fit is also the financial fit. A college degree is one of the most expensive purchases a family will make in their lifetime. Figuring out what you will pay, how much you can afford, and how you will find the best value for your money is a critical component of any college search. In this webinar, New York Times bestselling parenting and higher education writer Jeff Selingo will explain how to assess the value of a college and ways to compile the college list with financial wellness in mind. Jeff spent a year inside the college admissions process for his book, Who Gets In and Why, and has written about higher education for 25 years. |
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| | | | | December 12, 2024 | | Plan Benchmarking | | How do plan sponsors determine the right goals for their plans or measure plan success? What tools are available to benchmark retirement plans? What should plans be measuring and how often? What kinds of actions or improvements can measurements drive? These questions and more will be answered in PLANSPONSOR’s final editorial webinar of 2024. |
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