May 12th, 2022 Insight on Plan Design & Investment Strategy Every Weekday Data and Research ESOP Participants Benefit From Higher Retirement Savings Employee-owners at S corporations can accrue benefits leading to superior retirement readiness.   Data and Research Pension Plans Saw High Discount Rates in April While overall investment returns were lower, rising discount rates led to overall lower liabilities Most Read Deals and People LPL Terminates CEO Dan Arnold Administration IRS Provides Tax Relief for Those Impacted by Hurricane Helene Benefits Implementing Retirement Income Strategies ECONOMIC EVENTS In April, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.3%, seasonally adjusted, and rose 8.3% over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.6% in April (SA); up 6.2 percent over the year (NSA). Real average hourly earnings for all employees decreased 0.1% in April, seasonally adjusted. Average hourly earnings increased 0.3%, and CPI-U increased 0.3%. Real average weekly earnings did not change. MARKET MIRROR Wednesday, the Dow lost 326.63 points (1.02%) to close at 31,834.11, the Nasdaq dropped 373.44 points (3.18%) to 11.364.24, and the S&P 500 was down 65.87 points (1.65%) to close at 3,935.18. The Russell 2000 dropped 43.65 points (2.48%) to 1,718.14, and the Wilshire 5000 was down 744.09 points (1.88%) at 38,890.07. The price of the 10-year Treasury note increased 27/32, lowering its yield to 2.929%. The price of the 30-year Treasury bond increased 1 6/32, lowering its yield to 3.041%. Compliance O’Reilly Automotive Latest to Face ERISA Challenge The national auto parts distributor faces allegations that it failed to prudently and loyally operate its defined contribution retirement plan. PLAN PROGRESS WEBINAR Managing the DC Plan Investment Menu Even if they have help, defined contribution plan sponsors have ultimate fiduciary responsibility for managing the funds on their plans’ investment menus. Join us May 19 for a webinar in which experts will discuss the latest trends in investment menu design, as well as the Employee Retirement Income Security Act and regulatory duties plan sponsors are expected to follow. SMALL TALK ON THIS DATE: In 1780, American forces suffered their worst defeat of the Revolutionary War at Charleston, South Carolina. In 1847, William Clayton invented the odometer. In 1907, Katharine Hepburn, who performed in such films as The Philadelphia Story and On Golden Pond, was born in Hartford, Connecticut. In 1926, the airship Norge became the first vessel to fly over the North Pole. In 1943, the Axis forces in North Africa surrendered during World War II. In 1970, Ernie Banks, of the Chicago Cubs, hit his 500th home run. In 1978, he National Oceanic and Atmospheric Administration announced that it would no longer exclusively name hurricanes after women. In 2015, Verizon announced it was acquiring AOL. 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