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May 17th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
Advance estimates of U.S. retail and food services sales for April, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $686.1 billion, an increase of 0.4% from the previous month, and up 1.6% above April 2022, the Census Bureau reported. Total sales for the February through April period were up 3.1% from the same period a year ago. Retail trade sales were up 0.4% from March and up 0.5% from last year. Non-store retailers were up 8.0% from last year, while food services and drinking places were up 9.4% from April 2022.
U.S. total business end-of month inventories for March, adjusted for seasonal and trading day differences but not for price changes, were estimated at an end-of-month level of $2,490.0 billion, down 0.1% from February 2023, but were up 6.5% from March 2022, the Census Bureau reported.
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| MARKET MIRROR |
Tuesday, the Dow fell 336.46 points (1.01%) to close at 33,012.14, the Nasdaq fell 22.16 points (0.18%) to close at 12,343.05 and the S&P 500 fell 26.38 points (0.64%) to close at 4,109.90. The Russell 2000 lost 25.37 points (1.44%) to close at 1,736.18, and the Wilshire 5000 lost 314.99 points (0.77%) to close at 40,503.15.
The 10-year Treasury note rose 1/32, bringing the yield to 3.542%. The 30-year Treasury bond rose 1/32, bringing the yield to 3.858%.
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SURVEYS
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2023 Recordkeeping Sub Surveys
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Do you provide recordkeeping services for 403(b) plans, nonqualified deferred compensation plans and/or SEP/SIMPLE plans? If so, please help us present comprehensive data on those markets. Respond to our surveys by the FINAL deadline of May 23. 
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ON THIS DATE: In 1792, meeting on what is now Wall Street in New York City, 24 businessmen took the initial steps to forming the New York Stock Exchange. In 1875, the first Kentucky Derby was run at Churchill Downs in Louisville, Kentucky, and the winning horse was Aristides. In 1900, L. Frank Baum’s The Wonderful Wizard of Oz was first published, and it became a classic of children’s literature; the 1939 film adaption is among the most beloved movies in American cinema. In 1954, lawyer Thurgood Marshall scored a landmark victory as the U.S. Supreme Court unanimously ruled in the lawsuit Brown v. Board of Education of Topeka that racial segregation in public school was unconstitutional. In 1939, the first televised sporting event in the U.S.—a college baseball game between Princeton and Columbia—aired on NBC. In 1996, President Bill Clinton signed Megan’s Law, which required law enforcement officials to notify local schools, day care centers and residents of the presence of registered sex offenders in their communities. In 2004, Massachusetts became the first state to legalize same-sex marriage as it began issuing marriage licenses to gay couples.
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| Industry Intel Roundup—Featured Webinars | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. |  | | SPONSORED BY: Principal | June 24, 2025 | | Pension Risk: Strategies to Help Manage Market Volatility | | In recent years, many defined benefit plan sponsors have maintained significant allocations to equity investments, experiencing asset growth. Now, as market volatility threatens funding ratio gains, it’s important to consider strategies to help lock in DB plan funding gains and reduce investment risk.
Get perspective and insights from defined benefit leaders as they discuss:
What to consider when implementing or adjusting a liability-driven investing (LDI) strategy
When pension risk transfer (PRT) may be an option
How consolidating services with one provider could help improve risk alignment
In a challenging time for pension plan management, you can prepare to de-risk when the timing is right. |
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| | | SPONSORED BY: Principal | May 6, 2025 | | Trump’s first 100 days: What could be next for retirement policy | | What could the first 100 days of a second Trump administration mean for retirement security? Hear from our experienced policy team as they analyze key tax and regulatory changes that could shape the future of retirement planning.
We’ll cover:
The push to extend the Tax Cuts and Jobs Act (TCJA) and its funding challenges
The potential impact on retirement tax incentives
Executive orders and regulatory updates under SECURE 2.0
Stay informed and gain insights to navigate the evolving retirement landscape.
PLANSPONSOR is not an affiliate of any company of the Principal Financial Group®.
Insurance products and plan administrative services provided through Principal Life Insurance Company®. Securities offered through Principal Securities, Inc., member SIPC, and/or independent broker-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, Iowa 50392.
Principal®, Principal Financial Group®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States, and are trademarks and service marks of Principal Financial Services, Inc., in various countries around the world.
© 2025 Principal Financial Services, Inc., 711 High Street, Des Moines, Iowa 50392
PQ14034 | 4388076-042025 | 04/2025 |
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|  | | SPONSORED BY: Corebridge | February 25, 2025 | | Impacts on retirement planning: Taking action on the latest changes to Medicare and Social Security | | With the recent changes in nearly every part of retirement, it can be challenging for employers—and their employees—to keep up. We seem to be in a particularly active time with new laws coming on the books, existing law sections rolling out, and changes from every corner.
In this webinar, you will get the latest information and updates to Social Security and Medicare. There is a swirl of activity in both programs, causing more concern than ever about the viability of Social Security. Plus new, hidden costs in Medicare drug plans have taken folks by surprise.
You’ll also see how these changes impact employees as they adjust their plans for retirement. Planning with high costs of goods and services along with complex law changes puts added pressure on employees’ ability to save sufficiently for retirement. |
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|  | | SPONSORED BY: Lincoln Financial Group | February 4, 2025 | | Benefits at Work: How Financial Wellness Fuels Productivity | | Today’s employees seek meaningful benefits that address their holistic health and financial well-being. To meet their expectations, 80% of employers surveyed agree that a well-rounded, competitive benefits offering is critical, according to our 2024 Small Business Owner survey. More than ever, small businesses need to invest in programs that strengthen employee productivity, loyalty, and morale.
By joining this complimentary webcast, you’ll learn how to:
• Engage today's workforce, including the changing values of millennials and Gen Z, lingering financial concerns, and the key factors driving talent attraction and retention
• Gain a competitive edge for employees with comprehensive benefits, including voluntary employee benefits coverage, retirement savings plans, and financial wellness solutions
• Provide benefits education and wellness programs to help employees take full advantage of their benefits
• Deliver a holistic employee experience with simple plan administration by using a single-source benefits provider |
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|  | | SPONSORED BY: Edelman | December 17, 2024 | | Managed Accounts as QDIA: Which Approach Works Best for Your Participants? | | Plan sponsors have multiple tools at their disposal to help deliver the right solution at the right time for their participants while maintaining their fiduciary responsibilities. Many plan sponsors have adopted managed accounts as a QDIA, whether for targeted segments of their participant population or as a broader approach. As the #1 DC managed account provider since 2008 (per Cerulli Associates), Edelman Financial Engines is excited to host this webinar and discussion.
This webinar will cover:
Different ways that plan sponsors use managed accounts as a default investment option, and the impact on participants, addressing legal and regulatory concerns with different default structures, how managed accounts and target date funds fit together in a Dual QDIA structure and insights from a leading plan sponsor that uses managed accounts as a default to understand their decision-making process and how the solution improves participant outcomes. |
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