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March 25th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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AWARDS
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Plan Sponsor of the Year Finalists Announced
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PLANSPONSOR is pleased to announce the finalists for the 2024 Plan Sponsor of the Year awards in the Government DC <$1B, Government DC >$1B, Nonprofit DC <$100MM and Nonprofit DC >$100MM categories. 
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| ECONOMIC EVENTS |
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Monday, the Census Bureau will report new home sales for February. Tuesday, the Conference Board will report consumer confidence for March. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.
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| MARKET MIRROR |
Friday, the Dow lost 305.47 points (0.77) to close at 39,475.90, the Nasdaq rose 26.98 points (0.16%) to close at 16,428.82 and the S&P 500 fell 7.35 points (0.14%) to close at 5,234.18. The Russell 2000 fell 26.56 points (1.27%) to close at 2,072.00, and the FT Wilshire 5000 Index fell 127.79 points (0.24%) to close at 52,617.77.
The 10-year Treasury note fell 2/32, bringing the yield to 4.202%. The 30-year Treasury dropped 2/32, bringing the yield to 4.376%.
For the week ending March 22, the Dow rose 1.97%, the Nasdaq rose 2.85% and the S&P 500 rose 2.29%. The Russell 2000 rose 1.60%, and the FT Wilshire 5000 Index finished 2.28% higher.
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Benefits
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Molina Healthcare Close to Win in ERISA Lawsuit
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A California federal judge’s ruling in an ERISA lawsuit against Molina Healthcare provides a window into this court’s thinking on ERISA lawsuits and clues to winning plan sponsor defenses.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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The Retirement Advantage expands consulting team; Pantheon announces leadership succession plan; Noble appoints Johnson head of global client solutions.
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ON THIS DATE: In 1665, Dutch mathematician and astronomer Christiaan Huygens discovered Titan, the largest moon of Saturn. In 1807, the British Parliament abolished the slave trade in the British West Indies. In 1911, a fire at the Triangle shirtwaist factory in New York City killed 146 people, prompting the creation of health and safety legislation. In 1918, French composer Claude Debussy died at age 55. In 1934, feminist and activist Gloria Steinem, a leading advocate of the women’s liberation movement who helped found Ms. magazine was born. In 1947, British singer, composer and pianist Sir Elton John was born. In 1957, the Treaties of Rome were signed, establishing the European Community and the European Atomic Energy Community. In 1965, actress Sarah Jessica Parker was born. The same year, Martin Luther King, Jr., and other civil rights activists completed their march from Selma to Montgomery, Alabama; two previous marches had been halted by local police. In 1975, King Faisal of Saudi Arabia was shot to death by his nephew. In 2002, a 6.1 magnitude earthquake struck the Hindu Kush region of northern Afghanistan, causing more than 1,000 deaths. In 2021, children’s author Beverly Cleary, whose books included the hugely popular Ramona series, died at age 104.
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