March 7th, 2022 Insight on Plan Design & Investment Strategy Every Weekday Compliance Understanding PRT: Administrative and Fiduciary Considerations One important distinction to make when considering a pension risk transfer is the difference between fiduciary and settlor functions. Administration Understanding PRT: A Look at PRT Solutions and Costs Pension risk transfer includes a spectrum of options, with cost and other considerations for each. Most Read Benefits Social Security COLA Increase to Add About $50 per Month in 2025 Administration Many Taxpayers Dodged Penalty Tax for Early Retirement Withdrawals Administration Bills to Ban Arbitration Clauses Reappear in House, Senate Economic Events Total nonfarm payroll employment rose by 678,000 in February, and the unemployment rate edged down to 3.8, the Bureau of Labor Statistics reported. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, health care, and construction. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average mortgage rates for the week, and the Bureau of Labor Statistics will reveal the consumer price index for February. Market Mirror Friday, the Dow lost 179.86 points (0.53%) to finish at 33,614.80, the Nasdaq dropped 224.50 points (1.66%) to 13,313.44, and the S&P 500 closed 34.62 points (0.79%) lower at 4,328.87. The Russell 2000 decreased 31.51 points (1.55%) to 2,000.90, and the Wilshire 5000 fell 460.38 points (1.05%) to 43,535.76. The price of the 10-year Treasury note increased 32/32, bringing its yield down to 1.742%. The price of the 30-year Treasury bond climbed 1 3/32, decreasing its yield to 2.168%. For the week ending March 4, the Dow decreased 1.30%, the Nasdaq fell 2.78%, and the S&P 500 was down 1.27%. The Russell 2000 lost 1.96%, and the Wilshire 5000 finished 1.64% lower. Compliance DOL Announces Fiduciary Responsibilities Webcast Series The three-part series will cover how ERISA applies to employer-sponsored retirement and health plans and offer information about avoiding common problems. Investing Understanding PRT: Retiring Your Pension Plan Considering asset allocation, glidepaths, LDI and risk on the way to pension risk transfer. Deals and People Retirement Industry People Moves PGIM names head of DC Solutions business; OneAmerica hires leader for Participant Workplace Solutions team; and Transamerica acquires multiple employer plan service provider. Small Talk ON THIS DATE: In 322 BC, the Greek philosopher Aristotle died. In 1854, Charles Miller received a patent for the sewing machine. In 1876, 29-year-old Alexander Graham Bell received a patent for his revolutionary new invention: the telephone. In 1933, the board game Monopoly was invented. In 1965, in Selma, Alabama, a 600-person civil rights demonstration ended in violence when marchers were attacked and beaten by white state troopers and sheriff’s deputies. The day’s events became known as “Bloody Sunday.” In 1987, Mike Tyson became the youngest heavyweight titleholder when he beat James Smith in a decision during a 12-round fight in Las Vegas. In 1994, the U.S. Supreme Court ruled that parodies that poke fun at an original work can be considered “fair use” that does not require permission from the copyright holder. In 2010, Kathryn Bigelow became the first woman to win an Academy Award for best director, for her movie “The Hurt Locker.” 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