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June 5th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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Investing
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The Next Evolution in 403(b) Plans: Investments
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While 403(b) plans have made great strides, lifting restrictions on the types of investments the plans can offer and considering more diverse investment types could further improve participant retirement outcomes. 
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| Economic Events |
Interest rates for a 30-year fixed-rate mortgage averaged 3.18% for the week ending June 4, up from last week when it averaged 3.15%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.82%. Interest rates for a 15-year fixed-rate mortgage averaged 2.62%, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.28%.
In the week ending May 30, the advance figure for seasonally adjusted initial claims for unemployment insurance was 1,877,000, a decrease of 249,000 from the previous week’s revised level of 2,126,000, the Labor Department reported. The four-week moving average was 2,284,000, a decrease of 324,750 from the previous week’s revised average of 2,608,750.
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| Market Mirror |
Thursday, the Dow was up 11.93 points (0.05%) at 26,281.82, the NASDAQ closed 67.10 points (0.69%0 lower at 9,615.81, and the S&P 500 was down 10.52 points (0.34%) at 3,112.35. The Russell 2000 was virtually unchanged at 1,452.06, and the Wilshire 5000 decreased 115.51 points (0.36%) to 31,714.63.
The price of the 10-year Treasury note was down 7/32, increasing its yield to 0.818%. The price of the 30-year Treasury bond decreased 2 1/32, bringing its yield up to 1.625%.
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ON THIS DATE: In 1752, Benjamin Franklin flew a kite for the first time to demonstrate that lightning was a form of electricity. In 1851, Harriet Beecher Stow published the first installment of “Uncle Tom’s Cabin” in “The National Era.” In 1924, Ernst F. W. Alexanderson transmitted the first facsimile message across the Atlantic Ocean. In 1933, the United States went off the gold standard, a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. In 1981, the Center for Disease Control and Prevention reported that five men in Los Angeles were suffering from a rare pneumonia found in patients with weakened immune systems. They were the first recognized cases of what later became known as AIDS. In 2004, Ronald Wilson Reagan, the 40th president of the United States, died, after a long struggle with Alzheimer’s disease.
And now it’s time for FRIDAY FUN!
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