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Retirement Bill Eyeing ERISA Arbitration Ban Stirs Strong Reaction
Retirement Bill Eyeing ERISA Arbitration Ban Stirs Strong Reaction
The largest U.S. business lobbyist opposes bill banning discretionary clauses.
Data and Research
More Concern on the Doorstep of Retirement
Last year, the percentage of working Americans nearing retirement age who felt financially prepared for retirement was 26%; this year, that number has declined to just 22%.
Most Read
Schlichter: Significant Pleading Standard Will Not Slow Lawsuits
Pension Plans of Kellogg, Kohler and FedEx Sued For Outdated Calculations   
Federal Judge Rejects One of Two Challenges to DOL ESG Rule
Sales of new single‐family houses in April were at a seasonally adjusted annual rate of 591,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 16.6% below the revised March rate of 709,000 and is 26.9% below the April 2021 estimate of 809,000.
Tuesday, the Dow increased 43.38 points (0.15%) to 31,928.62, the Nasdaq fell 270.83 points (2.35%) to close at 11,264.45, and the S&P lost 32.27 points (0.81%) to 3,941.48. The Russell 2000 decreased 27.94 points (1.56%) to 1,764.83, and the Wilshire 5000 was down 461.13 points (1.17%) to 39,035.28.  

The price of the 10-year Treasury note increased 31/32 lowering its yield down to 2.751%. The price of the 30-year Treasury bond was up 1 30/32 lowering its yield down to 2.966%.
BNY Mellon Affiliate Settles SEC Charges Over ESG Statements With $1.5 Million Penalty
First ‘greenwashing’ case hints at more enforcement to come.
Ask the Experts
At What Rate Should Rehires Be Auto-Enrolled
“We sponsor an automatically enrolled 403(b) plan that is a qualified automatic contribution arrangement. We also utilize an automatic escalation feature, with the deferral amount increasing by 1% from the auto-enrolled minimum of 3% each plan year, which is the calendar year in our case. We recently had a rehired participant who, when she left three years ago, was automatically enrolled at an auto-escalated 4% deferral rate. Upon rehire, should she be auto-enrolled at that 4% deferral rate, or would she revert to the 3% default deferral rate for new hires?
ON THIS DATE: In 1660, under invitation by leaders of the English Commonwealth, Charles II, the exiled king of England, landed at Dover, England, to assume the throne and end 11 years of military rule. In 1787, 55 state delegates, including George Washington, James Madison, and Benjamin Franklin, convened in Philadelphia to compose a new U.S. constitution. In 1844, the gasoline engine was patented by Stuart Perry. In 1935, Babe Ruth hit his last home run at Forbes Field in Pittsburgh, Pennsylvania. In 1977, “Star Wars Episode IV: A New Hope” opened and became the largest grossing film to date. In 1992, Jay Leno debuted as the new permanent host of NBC’s “Tonight Show.” In 2001, Erik Weihenmayer, 32, of Golden, Colorado, became the first blind climber to reach the summit of Mount Everest. In 2008, NASA’s Phoenix Mars Lander landed in the arctic plains of Mars.
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