May 18th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits How Employers Can Address the Nurse Retention Problem Nurse turnover remains high, and employers can improve their overall retention by implementing benefits both old and new.  Compliance IRS Raises HSA Contribution Limits for 2024 Due to High Inflation The IRS announced a second consecutive significant increase to health savings account contribution limits in its response to continued inflation. Most Read Deals and People LPL Terminates CEO Dan Arnold Participants What the End of the Student Loan On-Ramp Period Could Mean for Retirement Savings Benefits Implementing Retirement Income Strategies ECONOMIC EVENTS Privately‐owned housing starts in April were at a seasonally adjusted annual rate of 1,401,000, the Census Bureau reported. This is 2.2% above the revised March estimate of 1,371,000, but is 22.3% below the April 2022 rate of 1,803,000. Single‐family housing starts in April were at a rate of 846,000; this is 1.6% above the revised March figure of 833,000. The April rate for units in buildings with five units or more was 542,000. MARKET MIRROR Wednesday, the Dow rose 408.63 points (1.24%) to close at 33,420.77, the Nasdaq rose 157.51 points (1.28%) to close at 12,500.57 and the S&P 500 increased 48.87 points (1.19%) to close at 4,158.77. The Russell 2000 increased 38.32 points (2.21%) to close at 1,774.50 and the Wilshire 5000 increased 527.22 points (1.30%) to close at 41,030.38. The price of the 10-year Treasury note fell 2/32, bringing the yield to 3.570%. The price of the 30-year Treasury bond was unchanged and the yield moved to 3.855%. Compliance NAGDCA Asks for More Time on Roth Catch-Ups, Again Government plans will struggle to comply with SECURE 2.0 because of their administration requirements. COVER Governance As the DOL and Congress keep building on ERISA, fiduciaries must know all the current ‘rules and regs’ that affect their plans. 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 1896, the U.S. Supreme Court released its decision in the lawsuit Plessy v. Ferguson, and the judgment advanced the controversial “separate but equal” doctrine for assessing the constitutionality of racial segregation laws. In 1933, the Tennessee Valley Authority was established to control floods and produce electrical power along the Tennessee River and its tributaries. In 1940, Brussels fell to the invading German army in World War II. In 1953, aviator Jacqueline Cochran became the first woman to break the sound barrier. In 1956, Swiss climbers Fritz Luchsinger and Ernest Reiss made the first ascent of the Lhotse I mountain in the Himalayas. In 1974, India detonated a nuclear weapon in the Rajasthan desert. In 1980, following an earthquake with a magnitude of 5.1 on the Richter scale, Mount St. Helens in Washington state erupted in one of the greatest volcanic explosions ever recorded in North America. In 2004, Major League Baseball pitcher Randy Johnson became the oldest pitcher to throw a perfect game, for the Arizona Diamondbacks against the Atlanta Braves. In 2021, Facebook held its initial public offering, which raised $16 billion. 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