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Data and Research
Retirement Is Going to Change—But How?
Retirement Is Going to Change—But How?
Although plan sponsors and financial professionals foresee some differences, they all expect changes to the retirement industry by 2030.
Live Nation Faces Excessive Fee Lawsuit
Participants claim that Live Nation offered higher-cost share classes for its 401(k) plan when identical, cheaper options were available.
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IRS Notice Defines Retirement Plan Tax Distribution Exceptions
ERISA Advisory Council Explores Annuity Default Options in DC Plans
Legislation to Overturn Fiduciary Rule Advances Through House Committee
In the week ending March 18, the advance figure for seasonally adjusted initial claims for unemployment insurance was 191,000, a decrease of 1,000 from the previous week’s unrevised level of 192,000, the Department of Labor reported. The four-week moving average was 196,250, a decrease of 250 from the previous week’s unrevised average of 196,500.

Interest on a 30-year fixed-rate mortgage averaged 6.42%, for the week ending March 23, down from last week when it averaged 6.60%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 4.42%.

Interest on a 15-year fixed-rate mortgage averaged 5.68%, down from last week when it averaged 5.90%. A year ago at this time, the 15-year FRM averaged 3.63%.

Sales of new single‐family houses in February  were at a seasonally adjusted annual rate of 640,000, the Census Bureau reported. This is 1.1% above the revised January rate of 633,000, but is 19.0% below the February 2022 estimate of 790,000. 
Thursday, the Dow gained 75.14 points (0.23%) to close at 32,105.25, the Nasdaq gained 117.44 (1.01%) to close at 11,787.40 and the S&P 500 gained 11.75 points (0.30%) to close at 3,948.72. The Russell 2000 fell 7.07 points (0.41%) to close at 1,720.29 and the Wilshire 5000 rose 80.80 points (0.21%) to close at 39,049.85.

The price of the 10-year Treasury note decreased 2/32, bringing the yield to 3.422%. The price of the 30-year Treasury bond remained unchanged, bringing the yield to 3.698%.
Data and Research
Immediate Vesting Is Better for Recruitment Than Cliff Vesting Is for Retention
Retirement experts at EBRI webinar cited research showing the dubious value of non-immediate vesting schedules in a competitive labor market. 
New Plan Creation Under SECURE 2.0
Join PLANSPONSOR, PLANADVISER and a panel of industry experts on April 5 as we discuss SECURE 2.0 provisions related to the creation of new retirement plans; why existing plan sponsors should care about the rules for newly created plans; and how SECURE 2.0 can assist advisers and employers in closing the retirement plan coverage gap.
ON THIS DATE: In 1603, King James VI of Scotland ascended the English throne following the death of Elizabeth I. In 1874, American magician Harry Houdini was born. In 1934, U.S. President Franklin Roosevelt signed a bill granting future independence to the Philippines. In 1989, oil tanker Exxon Valdez ran aground, spilling some 11 million gallons of oil into Prince William Sound in Alaska. This was the largest oil spill in U.S. history up to that time. In 2002, film stars Denzel Washington and Halle Berry became the second and third Black actors to win Academy Awards for performances in leading roles. In 2020, the Dow Jones Industrial Average jumped 2,100 points (11.3%). It was the largest one-day percentage gain since 1933.
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