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November 16th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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The Producer Price Index for final demand increased 0.2% in October, the Bureau of Labor Statistics reported. Prices for final demand goods advanced 0.6%, and the index for final demand services decreased 0.1%. The index for final demand rose 8.0% for the 12 months concluding with October.
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| MARKET MIRROR |
Tuesday, the Dow gained 56.22 points (0.17%) to close at 33,592.92, the Nasdaq increased 162.19 points (1.45%) to close at 11,358.41 and the S&P 500 increased 34.48 points (0.87%) to close at 3,991.73. The Russell 2000 increased 27.96 points (1.50%) to close at 1,889.20 and the Wilshire 5000 gained 405.54 points (1.03%) to close at 39,844.30.
The price of the 10-year Treasury note increased 7/32, bringing the yield down to 3.779%. The price of the 30-year Treasury bond increased 1 4/32, bringing the yield down to 3.960%.
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ASK THE EXPERTS
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What Responsibilities and Liabilities Come With Signing The Form 5500?
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I am the new general manager of our 501(c)(4) homeowners association, an employer eligible to sponsor an ERISA plan and have been asked to sign the 5500 for our 401(k) plan for our employees. The association is small and has nowhere near 100 participants, so I’ve been asked to sign the 5500-SF. However, even in signing that form, I am concerned about any responsibilities and liabilities that go along with signing the forms. Can the Experts provide some clarification? Thanks! 
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SURVEYS
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CIO’s Transition Management Survey
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Are you a provider of transition management services and want to make your services known to institutional investors? If so, you are invited to respond to CIO’s Transition Management Survey.
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ON THIS DATE: In 1776, during the American Revolution British forces captured Fort Washington, which was situated at the northern tip of the island of Manhattan. In 1907, Oklahoma became the 46th U.S. state. In 1952, the Peanuts comic strip first depicted Lucy holding and then removing a football for Charlie Brown. In 1957, Cleveland Browns running back, Jim Brown set an N.F.L. season rushing record of 1163 yards after eight games. In 1973, the Trans-Alaska Pipeline Authorization Act was signed by President Richard Nixon; the pipeline—which connects the oil fields of Prudhoe Bay in northern Alaska with the harbor at Valdez—became operational four years later. In 2004, economist Milton Friedman, who was a leading proponent of monetarism and won the 1976 Nobel Prize for Economics, died at age 94.
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| Industry Intel Roundup—Thought Leadership | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring content from thought leadership authorities. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. |
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