May 2nd, 2022 Insight on Plan Design & Investment Strategy Every Weekday Investing Fidelity’s Bitcoin Launch Plan Rebuked by DOL The acting assistant secretary for the Employee Benefits Security Administration has ‘grave concerns’ about Fidelity’s bitcoin 401(k) offering. Compliance New Limits for HSAs to Account for Inflation Growth The limit for individuals with self-only coverage will increase by $200, and the limit for those with family coverage will increase by $450. Most Read Deals and People Voya Announces Acquisition of OneAmerica's Retirement Plan Business Benefits ERISA Advisory Council Delves Into QDIA Retirement Income Offerings Benefits Social Security COLA for 2025 Projected at 2.5% ECONOMIC EVENTS Today, the Census Bureau will report about construction spending for March. Tomorrow, the Bureau of Labor Statistics will reveal job openings for March and the Census Bureau will report revised core capital goods orders and factory orders for the month. Thursday, the Department of Labor will report initial jobless claims for the week ending April 30.   MARKET MIRROR Friday, the Dow lost 939.18 points (2.77%) to close at 32,977.21, the Nasdaq was down 536.89 points (4.17%) to 12,334.64, and the S&P 500 fell 155.57 points (3.63%) to 4,131.93. The Russell 2000 was down 53.84 points (2.81%) to 1,864.19, and the Wilshire 5000 dropped 1,534.51 points (3.58%) to 41,343.97. For the week ending April 29, the Dow decreased 2.47%, the Nasdaq fell 3.93%, and the S&P 500 lost 3.27%. The Russell 2000 was down 3.94%, and the Wilshire 5000 finished 3.42% lower. The price of the 10-year Treasury note decreased 8/32 bringing its yield up to 2.929%. The price of the 30-year Treasury note dropped 1 31/32 bringing its yield up to 2.994%. DEALS AND PEOPLE Retirement Industry People Moves Congruent Solutions elevates North American chief operating officer; Edelman Financial Engines appoints chief financial officer; Verity Asset Management names director of participant engagement and ambassador for new business unit.  Data and Research Asset Allocation Made the Difference for Corporate Pension Funding in 2021 Plans with higher equity and lower fixed income allotments outperformed. SMALL TALK In 1670, England’s King Charles granted a permanent charter to the Hudson’s Bay Company, a group of French explorers who opened the lucrative North American fur trade to London merchants. In 1798, Haitian General Toussaint L’ouverture forced British troops to evacuate the port of Santo Domingo. In 1887, Hannibal W. Goodwin applied for a patent on celluloid photographic film. In 1902, “A Trip to the Moon,” the first science fiction film was released. In 1918, General Motors Corporation (GM) acquired Chevrolet Motor Company. In 1933, the modern legend of the Loch Ness Monster was born after a sighting made local news. In 1939, Lou Gehrig set a new MLB record when he played in his 2,130th consecutive game. In 1954, Stan Musial of the St. Louis Cardinals set a new MLB record when he hit 5 home runs against the New York Giants. In 1994, Nelson Mandela claimed victory after South Africa’s first democratic elections. In 2011, Osama bin Laden, who masterminded the September 11, 2001, terrorist attacks in the United States, was killed by U.S. forces during a raid on his compound in Pakistan. 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