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November 1st, 2019
Insight on Plan Design & Investment Strategy Every Weekday
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SPONSORED BY: BlackRock
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Income Reimagined: Building income solutions into default options
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62% of DC participants worry about retirement income. Then why do so few take advantage of guaranteed solutions? It may be that offering a solution is only the first step. Our latest paper explores how plan sponsors may need to use behavioral finance, plan design and default options to reframe how participants think about retirement income. 
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| Economic Events |
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In the week ending October 26, the advance figure for seasonally adjusted initial claims for unemployment insurance was 218,000, an increase of 5,000 from the previous week’s revised level of 213,000, the Labor Department reported. The four-week moving average was 214,750, a decrease of 500 from the previous week’s revised average of 215,250.The average interest rate for a 30-year fixed-rate mortgage is 3.78%, up from 3.75% one week ago. The average interest rate for a 15-year fixed-rate mortgage is 3.19%, up from 3.18%.
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| Market Mirror |
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Thursday, the Dow lost 140.46 points (0.52%) to finish at 27,046.23, the NASDAQ was down 11.62 points (0.14%) at 8,292.36, and the S&P 500 decreased 9.21 points (0.30%) to 3,037.56. The Russell 2000 fell 10.40 points (0.66%) to 1,562.45, and the Wilshire 5000 closed 117.23 points (0.38%) lower at 30,945.76.The price of the 10-year Treasury note increased 31/32, bringing its yield down to 1.682%. The price of the 30-year Treasury bond climbed 1 30/32, decreasing its yield to 2.175%.
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ON THIS DATE: In 1512, Michelangelo’s paintings on the ceiling of the Sistine Chapel were first exhibited to the public. In 1765, the British Parliament enacted The Stamp Act in the American colonies. In 1800, President John Adams became the first president to live in the White House. In 1848, the first medical school for women, founded by Samuel Gregory, opened in Boston. In 1870, the U.S. Weather Bureau made its first meteorological observations using 24 locations that provided reports via telegraph. In 1894, “Billboard Advertising” was published for the first time. It later became known as “Billboard.” In 1950, two Puerto Rican nationalists tried to assassinate President Harry Truman. One of the men was killed when they tried to force their way into Blair House in Washington, D.C. In 1952, the United States exploded the first hydrogen bomb on Eniwetok Atoll in the Marshall Islands. In 1989, tens of thousands of refugees to fled to the West when East Germany reopened its border with Czechoslovakia. In 1994, the Amazon.com domain name was registered. In 1998, Iridium inaugurated the first handheld, global satellite phone and paging system.
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