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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 | October 30, 2024 | | Rethinking Retirement: Participant Engagement Trends and Best Practices | | Dive into key participant behaviors and engagement trends that can reshape how we approach retirement planning. This presentation highlights the complexities participants face in understanding their eligibility and reveals misconceptions about their enrollment. We’ll explore targeted strategies to help boost participation rates and address certain generational gaps. In today’s saturated digital environment, participants are conditioned to ignore marketing-style emails.
Discover best practices in how to refine your messaging and break through the noise. Finally, we’ll explore why the “easy button” plan features haven’t been working. By evolving messaging to meet participants where they are paired with best practice plan design features, we aim to drive deeper engagement and better outcomes. |
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|  | | December 12, 2024 | | Plan Benchmarking | | How do plan sponsors determine the right goals for their plans or measure plan success? What tools are available to benchmark retirement plans? What should plans be measuring and how often? What kinds of actions or improvements can measurements drive? These questions and more will be answered in PLANSPONSOR’s final editorial webinar of 2024. |
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| | |  | | SPONSORED BY: Corebridge Financial | September 30, 2024 | | How College Planning Fits Into Financial Wellness | | When it comes to the college search, you’ll often hear talk about finding the right “fit.” Usually that means academic and social fit, but a key piece of fit is also the financial fit. A college degree is one of the most expensive purchases a family will make in their lifetime. Figuring out what you will pay, how much you can afford, and how you will find the best value for your money is a critical component of any college search. In this webinar, New York Times bestselling parenting and higher education writer Jeff Selingo will explain how to assess the value of a college and ways to compile the college list with financial wellness in mind. Jeff spent a year inside the college admissions process for his book, Who Gets In and Why, and has written about higher education for 25 years. |
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| | | September 19, 2024 | | Financial Wellness | | Plan sponsors, advisers and policy experts will offer suggestions for how best to define and measure the financial wellness of participants and drive financial confidence. The panel will also review how they evaluate the myriad new offerings appearing as a result of the voluntary benefits provisions of SECURE 2.0. Attendees will come away with tangible metrics for determining which programs will offer the most useful and valuable programs for their employees. |
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