May 15th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Trends Show Corporations Reducing Contributions to Pension Funds While some companies have disclosed low intended contributions to their pension plans this year, some analysts expect a reversal in 2024. Deals and People Milliman Hires Falls to Expand Public Pension Consulting Business Career actuarial consultant Ryan Falls has extensive experience working on major U.S. public employee retirement systems. Most Read Compliance IRS Announces 2026 HSA Limits Compliance Sweeping Republican Tax Bill Leaves Retirement Policy Mostly Untouched Compliance California District Court Dismisses Forfeitures Class Action Against Kaiser Foundation ECONOMIC EVENTS Tuesday, the Census Bureau will announce U.S. retail and food service sales. Wednesday, the Census bureau will announce housing starts. Thursday, the National Association of Realtors will announce existing home sales, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.   MARKET MIRROR Friday, the Dow fell 8.89 points (0.03%) to close at 33,300.62, the Nasdaq fell 43.76 points (0.36%) to close at 12,284.74 and the S&P 500 fell 6.54 points (0.16%) to close at 4,124.08. The Russell 2000 lost 3.86 points (0.22%) to close at 1,740.85, and the Wilshire 5000 lost 81.89 points (0.20%) to close at 40,637.53.  The price of 10-year Treasury note decreased 7/32, bringing the yield to 3.468%. The price of the 30-year Treasury bond decreased 27/32, bringing the yield to 3.790%.   For the week ending May 12, the Dow lost 1.11%, the Nasdaq rose 0.40% and the S&P 500 fell 0.29%. The Russell 2000 fell 1.08%, and the Wilshire 5000 finished 0.32% lower.  DEALS AND PEOPLE Retirement Industry People Moves Voya expands workplace solutions team with Ritter, Bandani; new RIA Modern Wealth brings on two Goldman VPs; Drennan moves from parent Hightower to Fairpoint Wealth; and more.  Compliance Representative Massie Again Proposes Exemption for Social Security Income Social Security benefits, which have been partially taxed since 1984, would be exempt once again if the Kentucky representative’s bill passes. SURVEYS 2023 Recordkeeping Survey Calling All Recordkeeping Firms! Don’t miss your chance to highlight your services for plan sponsors. Complete your entry in the PLANSPONSOR 2023 Recordkeeping Survey by the FINAL deadline, May 23. SMALL TALK ON THIS DATE: In 1918, the first regular airmail route in the U.S. opened, between New York City and Washington, D.C. In 1929, Walt Disney’s Mickey Mouse made his debut with the premiere of the cartoon Plane Crazy. In 1940, in San Bernadino, California, brothers Maurice (“Mac”) and Richard McDonald opened a drive-in restaurant that gave rise to the fast-food chain McDonald’s. In 1962, lawyer and judge Abe Fortas became the first U.S. Supreme Court justice to resign under threat of impeachment. In 1972, while campaigning for the Democratic presidential nomination, Alabama Governor George Wallace was wounded and left permanently paralyzed below the waist in an assassination attempt. In 1991, Edith Cresson of the Socialist Party became the first female premier of France, but she lost the office less than a year later because of rising unemployment and declining support from within her party. In 2003, singer and songwriter June Carter Cash—a leading figure in country music, especially noted for her work with the Carter Family and Johnny Cash—died in Nashville.   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