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June 18th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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Wellness Strategies
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Staying the Course
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Plan before implementing any coronavirus-related distribution provisions.
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Data and Research
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Retirement Plan ‘Leakage’ Still a Serious Problem
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A study finds there was $48 billion in penalized retirement plan distributions in 2010, and it raises the question of whether returned excess contributions should be thought of as ‘leakage.’
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Economic Events |
Privately-owned housing starts in May were at a seasonally adjusted annual rate of 974,000. This is 4.3% above the revised April estimate of 934,000, but is 23.2% below the May 2019 rate of 1,268,000, the Census Bureau reported. Single-family housing starts in May were at a rate of 675,000; this is 0.1% above the revised April figure of 674,000. The May rate for units in buildings with five units or more was 291,000.
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Market Mirror |
Wednesday, the Dow closed 170.37 points (0.65%) lower at 26,119.61, the NASDAQ was up 14.67 points (0.15%) at 9,910.53, and the S&P 500 was down 11.25 points (0.36%) at 3,113.49. The Russell 2000 increased 6.92 points (0.49%) to 1,426.53, and the Wilshire 5000 decreased 143.31 points (0.45%) to 31,728.66.
The price of the 10-year Treasury note was up 24/32, decreasing its yield to 0.730%. The price of the 30-year Treasury bond increased 27/32, bringing its yield down to 1.524%.
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ON THIS DATE: In 1812, President James Madison signed a declaration of war against Great Britain—starting the War of 1812. In 1873, Susan B. Anthony was fined $100 for attempting to vote in the Presidential election. In 1928, Amelia Earhart became the first woman to fly across the Atlantic Ocean as she completed a flight from Newfoundland to Wales. In 1942, the U.S. Navy commissioned its first black officer, Harvard University medical student Bernard Whitfield Robinson. In 1948, the United Nations Commission on Human Rights adopted its International Declaration of Human Rights. In 1983, Dr. Sally Ride became the first American woman in space aboard the space shuttle Challenger.
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