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November 22nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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Opinions
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3 Data-Driven Trends in Retirement Plan Management
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Plan sponsors are interested in restructuring consultant relationships, expanding investment lineups, and enhancing participant education, writes Morgan Stanley's head of institutional consulting. 
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| ECONOMIC EVENTS |
In the week ending November 16, the advance figure for seasonally adjusted initial claims was 213,000, a decrease of 6,000 from the previous week’s revised level of 219,000, the Department of Labor announced. The four-week moving average was 217,750, a decrease of 3,750 from the previous week’s revised average of 221,500.
Interest on a 30-year fixed-rate mortgage averaged 6.84% for the week ending November 21, up from last week when it averaged 6.78%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 7.29%. Interest on a 15-year fixed-rate mortgage averaged 6.02%, up from last week when it averaged 5.99%. A year ago at this time, the 15-year FRM averaged 6.67%.
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| MARKET MIRROR |
Thursday, the Dow rose 461.88 points (1.06%) to close at 43,870.35, the Nasdaq rose 6.28 points (0.03%) to close at 18,972.42 and the S&P 500 rose 31.60 points (0.53%) to close at 5,948.71. The Russell 2000 rose 38.48 points (1.65%) to close at 2,364.02, and the FT Wilshire 5000 Index rose 405.48 points (0.68%) to close at 59,950.62.
The 10-year Treasury note decreased 1/32, bringing the yield to 4.425%. The 30-year Treasury bond increased 1/32, bringing the yield to 4.603%.
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PRODUCTS
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Product & Service Launches
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Oppenheimer partners with Pontera for client 401(k) management; SEI adds separately managed account options; AssetMarket adds TIFIN AI capabilities for advisers; and more.
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UPFRONT
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Income Solution Fees: A Primer
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As more plan sponsors consider incorporating lifetime income options into their retirement offerings—and more such options come to market—these sponsors have a range of considerations, including as to fees.
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ON THIS DATE: In 1819, the Victorian English novelist known by the pen name George Eliot—who developed the method of psychological analysis characteristic of modern fiction and was known for such works as “Middlemarch”—was born as Mary Ann Evans. In 1943, Lebanon proclaimed its independence from France; however, it did not become wholly independent until 1946. In 1963, John F. Kennedy, the 35th president of the U.S., was shot and killed in Dallas while riding in an open car. In 1975, Juan Carlos I became king of Spain, two days after the death of Francisco Franco. In 1986, with a second-round knockout of Trevor Berbick, 20-year-old Mike Tyson became the youngest heavyweight champion in boxing history. In 1990, Margaret Thatcher announced her resignation as British prime minister after a split occurred in the ranks of the Conservative Party, ending Thatcher’s 11-year run, the longest of any post-1900 prime minister. In 1994, Mount Merapi, on the island of Java, in Indonesia, erupted, killing 64 people. In 1995, Pixar’s “Toy Story,” the first entirely computer-animated feature-length film, was released and became a critical and commercial hit. In 2005, German politician Angela Merkel was sworn in as the country’s chancellor, becoming the first woman to hold the post.
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