March 3rd, 2023 Insight on Plan Design & Investment Strategy Every Weekday Compliance IRS Offers New Rules on Deadline for Using Retirement Forfeitures The proposal states that plan administrators need to use retirement plan forfeitures within 12 months. Data and Research Institutional Investors Add Active Allocations to Start 2023 Asset flows data for early this year shows institutional investors bucking 2022 trends.  Most Read Compliance FTC Issues 2nd Report Exposing Practices of Pharmacy Benefit Managers Compliance 2025 Retirement Outlook Includes Tax Reforms, Cryptocurrency and Litigation Reform Compliance EBSA Offers Proposed ESOP Appraisal Regulations ECONOMIC EVENTS In the week ending February 25, the advance figure for seasonally adjusted initial claims for unemployment insurance was 190,000, a decrease of 2,000 from the previous week’s unrevised level of 192,000, the Department of Labor reported. The four-week moving average was 193,000, an increase of 1,750 from the previous week’s unrevised average of 191,250. Interest on a 30-year fixed-rate mortgage averaged 6.50% for the week ending February 23, up from last week when it averaged 6.32%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.89%. Interest on a 30-year fixed-rate mortgage averaged 5.76%, up from last week when it averaged 5.51%. A year ago at this time, the 15-year FRM averaged 3.14%. MARKET MIRROR Thursday, the Dow increased 341.73 points (1.05%) to close at 33,003.57, the Nasdaq increased 83.50 points (0.73%) to close at 11,462.98 and the S&P 500 increased 29.96 points (0.76%) to close at 3,981.35. The Russell 2000 gained 4.23 points (0.22%) to close at 1,902.66 and the Wilshire 5000 gained 274.33 points (0.69%) to close at 39,812.24. The price of the 10-year Treasury note increased 2/32, bringing the yield to 4.062%. The price of the 30-year Treasury bond increased 1/32, bringing the yield to 3.996%. Benefits End Of The Road For Defined Benefit Plans? Not Quite While the vast majority of DB plans are frozen, plan sponsors are keeping all options on the table for participants. Defined Benefit Plans Live On as Older, Wise Neighbors, Where DC Plans Can Borrow Ideas A plan sponsor, academics and pension benefit expert agree that defined benefit plans are largely on the way out, yet optimal pension features should survive. SMALL TALK ON THIS DATE: In 1820, lawmaker Henry Clay helped win passage of the Missouri Compromise, which divided the United States over the issue of slavery for years afterward. In 1845, Florida became the 27th U.S. state. In 1913, the Women’s Suffrage Parade in Washington, D.C., gathered over 8,000 women to demand a constitutional amendment guaranteeing the right to vote. In 1918, the second of two treaties of Brest-Litovsk concluded hostilities between the Central Powers and Soviet  Russia during World War I. In 1923, the first issue of the weekly newsmagazine Time was published. In 1931, The Star-Spangled Banner, written by Francis Scott Key during the War of 1812, was officially adopted as the national anthem of the United States by act of Congress. In 1962, Jackie Joyner-Kersee, one of the worlds greatest female athletes, was born. In 1991, following a high-speed car chase, Los Angeles police officers brutally beat Rodney King, an African American motorist; despite a videotape of the beating, the policemen were acquitted in 1992, causing large-scale rioting in the city. 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