June 27th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance CFP Board Continues DOL Fiduciary Rule Support With Court Filing The group that certifies financial professionals argues that the new rule will cover important regulatory gaps and not hinder investment advice for retirement savers. Benefits Increased Litigation Around PRTs Brings Insurance Industry Practices to Light As defined benefit plan sponsors look to de-risk and offload pension liabilities, the selection of annuity providers has come under increased scrutiny in recent lawsuits. Most Read Benefits Social Security’s New Anti-Fraud Measures Begin Amid Mixed Messages from Agency Deals and People Financial Finesse Appoints New President Opinions Don’t Forget Decumulation: 3 Key Pillars for an Effective Retirement Income Solution ECONOMIC EVENTS Sales of new single-family houses in May 2024 were at a seasonally adjusted annual rate of 619,000, the Census Bureau reported. This is 11.3% below the revised April 2024 estimate of 698,000.  MARKET MIRROR Wednesday, the Dow rose 15.64 points (0.04%) to close at 39,127.80, the Nasdaq rose 87.50 points (0.49%) to close at 17,805.16 and the S&P 500 rose 8.60 points (0.16%) to close at 5,477.90. The Russell 2000 fell 4.23 points (0.21%) to close at 2,018.12, and the FT Wilshire 5000 Index rose 72.14 points (0.13%) to close at 54,549.28. The 10-year Treasury note fell 7/32, bringing the yield to 4.334%. The 30-year Treasury bond fell 1 28/32, bringing the yield to 4.476%. Data and Research Johns Hopkins, University of Maryland Students Win Retirement Essay Competition The iOme Challenge, sponsored by the TIAA Institute and the Women’s Institute for a Secure Retirement, encourages college students to have a voice in shaping retirement policy.   Compliance Republicans Look to Defund Retirement Security Rule, Other DOL Priorities House GOP spending proposal cuts all funding for the ESG rule and the Women’s Bureau Data and Research Confidence About Retirement Still Recovering, EBRI Research Finds Many Americans are positive about retiring, even though confidence has not fully recovered since 2023. SMALL TALK ON THIS DATE: In 1787, British historian Edward Gibbon completed “The History of the Decline and Fall of the Roman Empire.” In 1844, Joseph Smith, founder of Mormonism and the Latter Day Saint movement, was murdered by an armed mob in Carthage, Illinois. In 1846, Charles Stewart Parnell, Irish nationalist and leader in the struggle for Irish Home Rule, was born in Avondale, County Wicklow. In 1862, during the first Battle of Cold Harbor, more commonly known as the Battle of Gaines’ Mill in the Civil War, Confederate General Robert E. Lee attacked Union troops, driving them back in disorder and forcing them to withdraw to the south side of the Chickahominy River. In 1871, although first minted in 1869, the yen was adopted as Japan’s official monetary unit when the government suspended the exchange of clan notes, money issued by feudal lords that had circulated since the 16th century. In 1917, during World War I, Greece declared war on the Central Powers. In 1930, businessman and philanthropist Ross Perot, an independent candidate for U.S. president in 1992 and 1996, was born in Texarkana, Texas. In 1977, East African nation Djibouti gained its independence from France. In 2007, after having served as chancellor of the Exchequer from 1997 to 2007, British Labor Party politician Gordon Brown became prime minister of the U.K. 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