May 30th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Student Loan Debt Among Older Workers Impedes Retirement Savings Millions of people aged 55 and above have outstanding student loans, significantly impacting how much they are able to save for retirement, analysis from the New School finds. Compliance Bechtel Faces ERISA Litigation Over Default Managed Accounts The retirement plan committee for the engineering firm’s $5.1 billion plan is sued over the fees participants paid after being defaulted into managed accounts. Most Read Opinions Don’t Forget Decumulation: 3 Key Pillars for an Effective Retirement Income Solution Deals and People Financial Finesse Appoints New President Compliance 5th Circuit Grants DOL 60 More Days on Fiduciary Rule Lawsuit ECONOMIC EVENTS The Conference Board Consumer Confidence rose in May to 102.0 from 97.5 in April (a slight upward revision). The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased to 143.1 in May from 140.6 in April. Meanwhile, the Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—rose to 74.6 from 68.8 last month. Despite this improvement, for the fourth consecutive month, the Expectations Index was below 80, the threshold which usually signals a recession ahead. MARKET MIRROR Wednesday, the Dow fell 411.32 points (1.06%) to close at 38,441.54, the Nasdaq fell 99.30 points (0.58%) to close at 16,920.58 and the S&P 500 fell 39.09 points (0.74%) to close at 5,266.95. The Russell 2000 fell 30.66 points (1.48%) to close at 2,036.19, and the FT Wilshire 5000 Index fell 419.25 points (0.79%) to close at 52,733.63. The 10-year Treasury note decreased 5/32, bringing the yield to 4.619%. The 30-year Treasury bond decreased 1 1/32, bringing the yield to 4.739%. Data and Research Participant Spending Behavior Plays Role in Selecting QDIA, Guaranteed Income Solutions New J.P. Morgan research finds that participants experience spending surges and volatility at different points of retirement. Administration Industry Groups Recommend Fewer and Staggered Retirement Plan Disclosures Retirement plan and benefit disclosures should only be given to participants if they contain actionable information, industry groups say. SMALL TALK ON THIS DATE: In 1909, jazz musician and bandleader Benny Goodman, known as the “King of Swing,” was born. In 1911, the first Indianapolis 500 automobile race was run in Indianapolis, Indiana, and it was won by Ray Harroun in about six hours and 22 minutes. In 1922, the Lincoln Memorial—honoring Abraham Lincoln, the 16th president of the U.S.—was dedicated in Washington, D.C. In 1925, in the May Thirtieth Incident, some 12 labor demonstrators were killed by British police in Shanghai, sparking nationwide strikes and protests in China. In 1942, during World War II, the British Royal Air Force dispatched more than 1,000 bombers against Cologne, Germany. In 1961, Rafael Trujillo, an army office who had become dictator of the Dominican Republic following a military revolt in 1930, was assassinated. In 2012, Charles Taylor, the former president of Liberia, was sentenced to 50 years in prison after being convicted of crimes against humanity and war crimes that were committed during Sierra Leone’s civil war. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 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