| | Benefits & Administration | | More than 57% of Catholic dioceses are planning
to freeze or terminate their pension plans, according to a survey from USI
Consulting Group. Eighty percent of the dioceses that responded to the survey
indicated they offer lay employees a 403(b) plan—half offer a plan with a
diocesan contribution and nearly three in 10 offer one without a diocesan
contribution. Nearly 15% offer lay employees a 401(k) plan.Read more > | | | Economic Events | | THE ECONOMIC WEEK AHEAD: Today, the
Census Bureau will report about construction spending for January. Thursday, the Labor Department will
issue its initial claims report and the Census Bureau will report about factory
orders for January. Friday, we’ll
learn the unemployment rate for February. | | | Market Mirror | | News that
U.S. economic growth slowed more sharply than previously estimated in the final
three months of the year brought major U.S. stock indices down Friday. The Dow
closed 81.72 points (0.45%) lower at 18,132.70, the NASDAQ fell 24.36 points
(0.49%) to 4,963.53, and the S&P 500 was down 5.76 points (0.27%) at 2,104.98.
The Russell 2000 lost 5.83 points (0.47%) to finish at 1,233.28, and the
Wilshire 5000 decreased 65.90 points (0.30%) to 22,212.34.
On the NYSE,
3.2 billion shares traded, with a slight lead for advancers. On the NASDAQ, 2.7
billion shares changed hands, with 1.4 declining issues for every advancing
issue.
The price of
the 10-year Treasury note was up 9/32, decreasing its yield to 1.997%. The
price of the 30-year Treasury bond increased 23/32, bringing its yield down to
2.596%.
WEEK’S
WORTH: For the week ending February 27, the Dow was
down 0.04%, the NASDAQ gained 0.15%, and the S&P 500 lost 0.25%. The
Russell 2000 gained 0.12%, and the Wilshire 5000 fell 0.30%.
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