March 6th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Compliance Senators Brown and Collins Re-Introduce Social Security Fairness Act The bill, if passed, would repeal reductions in Social Security benefits paid to certain public pensioners. Deals and People Principal Integrates Businesses With Renewed Focus on Retirement Owais Rana was promoted to head of investment solutions for Principal Asset Management, which is merging previously separate businesses.    Most Read Compliance Regulators Clarify Part-Time Eligibility Rules for ERISA 403(b) Plans Opinions Accumulating Differences: Why Personalization Matters More for Older Investors Products Apollo, Athene Working On Alts, Annuities in DC Investing ECONOMIC EVENTS Monday, the Census Bureau will report new orders for manufactured durable goods for January. Tuesday, the Census Bureau will report sales of merchant wholesalers for January. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report the unemployment rate for February. MARKET MIRROR Friday, the Dow gained 387.40 points (1.17%) to close at 33,390.97, the Nasdaq gained 226.02 points (1.97%) to close at 11,689.01 and the S&P 500 gained 64.29 points (1.61%) to close at 4,045.64. The Russell 2000 increased 25.60 points (1.35%) to close at 1,928.26 and the Wilshire 5000 increased 638.71 points (1.60%) to close at 40,450.95. The price of the 10-year Treasury note increased 30/32, bringing the yield to 3.960%. The price of the 30-year Treasury bond increased 1 32/32, bringing the yield to 3.880%. For the week ending March 3, the Dow gained 1.75%, the Nasdaq gained 2.58% and the S&P 500 increased 1.90%. The Russell 2000 increased 2.00% and the Wilshire 5000 finished 1.92% higher. Benefits How Plan Sponsors Can Best Communicate With Participants Experts suggest plan sponsors use direct and personalized messaging when communicating about benefits. PRODUCTS Investment Product and Service Launches Alight’s expanded wellness programs allows employees’ families to join; ComplySci launches regulatory compliance guide for financial firms; Equitable adds volatility protection; and more. SMALL TALK In 1820, President James Monroe signed the Missouri Compromise, which allowed Missouri to be admitted to the union as the 24th state in 1821. In 1834, called the city of York at the time, the-now largest city in Canada was incorporated as Toronto. In 1836, the Alamo in Texas fell to Mexican General Antonio López de Santa Anna after a 13-day siege. In 1857, Supreme Court Chief Justice Roger B. Taney announced the Dred Scott decision, making slavery legal in all U.S. territories. In 1869, at a meeting of the Russian Chemical Society, Russian chemist Dmitri Mendeleev presented the first periodic table. In 1899, the German company Bayer trademarked the name Aspirin for its drug made from acetylsalicylic acid. In 1924, the Egyptian government opened the mummy case of King Tutankhamen, ruler of Egypt in the 14th century bce, whose burial chamber had been discovered in 1922 by renowned British archaeologist Howard Carter. In 1957, Ghana became an independent nation, led by Prime Minister Kwame Nkrumah. In 1964, Cassius Clay took the name Muhammad Ali, which was given to him by his spiritual mentor, Elijah Muhammad, leader of the Nation of Islam. In 1981, journalist Walter Cronkite signed off for the last time as the longtime anchor of the CBS Evening News.   Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 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