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November 30th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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ECONOMIC EVENTS |
The Conference Board Consumer Confidence Index decreased in November after also losing ground in October. The Index now stands at 100.2, down from 102.2 in October. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—decreased to 137.4 from 138.7 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—declined to 75.4 from 77.9.
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MARKET MIRROR |
Tuesday, the Dow increased 3.07 points (0.01%) to close at 38,852.53, the Nasdaq lost 65.72 points (0.59%) to close at 10,983.78 and the S&P 500 decreased 6.31 points (0.16%) to end trading at 3,957.63. The Russell 2000 increased 5.59 points (0.31%) to close at 1,836.55 and the Wilshire 5000 decreased 39.08 points (0.10%) to close at 39,348.53.
The price of the 10-year Treasury note increased 1/32, bringing the yield down to 3.749%. The price of the 30-year Treasury bond increased 2/32, bringing the yield down to 3.806%.
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ASK THE EXPERTS
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When Are SECURE and CARES Acts Plan Amendments Due?
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I work for a private, tax-exempt entity that sponsors 401(a), 403(b) and 457(b) plans. We were under the impression that all of our plans had to be amended for The Setting Every Community Up for Retirement Enhancement Act of 2019 and the Coronavirus Aid, Relief, and Economic Security Act by December 31, 2023, but our recordkeeper indicates that this is no longer the case. Is that correct?
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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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EVENTS
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Plan Progress Webinar: Student Loan Debt Benefits
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Join PLANPSONSOR and a panel of experts on December 15 to learn what options are available for student loan debt benefits, their structure and cost; how student loan repayment help fits into an employer’s overall financial wellness benefits; what communications employees need about student loan debt and saving for retirement, and more
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ON THIS DATE: In 1782, Britain and the U.S. signed the preliminary articles of the Treaty of Paris as part of the Peace of Paris, a collection of treaties concluding the American Revolution. In 1874, British statesman, orator and author Sir Winston Churchill, was born in Oxfordshire. In 1876, Yale defeated Princeton, 2-0, in Hoboken, N.J. in the first collegiate football game played on Thanksgiving. In 1924, politician Shirley Chisholm, the first African American woman to be elected to Congress, was born. In 1928, General Mills stock debuted on the New York Stock Exchange. In 1966, Barbados achieved independence from Britain. In 1993, during a White House ceremony attended by former attorney general James S. Brady, President Bill Clinton signed the Brady handgun-control bill into law. In 1999, Exxon and Mobil formally merged, becoming ExxonMobil. In 2018, politician George H.W. Bush, who was the 41st president of the U.S., died at the age of 94.
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Industry Intel Roundup—Featured Webinars | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. |  | SPONSORED BY: Lincoln Financial Group | February 4, 2025 | Benefits at Work: How Financial Wellness Fuels Productivity | Today’s employees seek meaningful benefits that address their holistic health and financial well-being. To meet their expectations, 80% of employers surveyed agree that a well-rounded, competitive benefits offering is critical, according to our 2024 Small Business Owner survey. More than ever, small businesses need to invest in programs that strengthen employee productivity, loyalty, and morale.
By joining this complimentary webcast, you’ll learn how to:
• Engage today's workforce, including the changing values of millennials and Gen Z, lingering financial concerns, and the key factors driving talent attraction and retention
• Gain a competitive edge for employees with comprehensive benefits, including voluntary employee benefits coverage, retirement savings plans, and financial wellness solutions
• Provide benefits education and wellness programs to help employees take full advantage of their benefits
• Deliver a holistic employee experience with simple plan administration by using a single-source benefits provider |
| |  | SPONSORED BY: Edelman | December 17, 2024 | Managed Accounts as QDIA: Which Approach Works Best for Your Participants? | Plan sponsors have multiple tools at their disposal to help deliver the right solution at the right time for their participants while maintaining their fiduciary responsibilities. Many plan sponsors have adopted managed accounts as a QDIA, whether for targeted segments of their participant population or as a broader approach. As the #1 DC managed account provider since 2008 (per Cerulli Associates), Edelman Financial Engines is excited to host this webinar and discussion.
This webinar will cover:
Different ways that plan sponsors use managed accounts as a default investment option, and the impact on participants, addressing legal and regulatory concerns with different default structures, how managed accounts and target date funds fit together in a Dual QDIA structure and insights from a leading plan sponsor that uses managed accounts as a default to understand their decision-making process and how the solution improves participant outcomes. |
| |  | December 12, 2024 | Plan Benchmarking | How do plan sponsors determine the right goals for their plans or measure plan success? What tools are available to benchmark retirement plans? What should plans be measuring and how often? What kinds of actions or improvements can measurements drive? These questions and more will be answered in PLANSPONSOR’s final editorial webinar of 2024. |
| |  | SPONSORED BY: Income America | November 19, 2024 | Changing the Conversation on Guaranteed Retirement Income | As retirement plans transition from supplemental savings vehicles to the primary income source for many retirees, plan participants’ perspectives on retirement have shifted significantly. This session will delve into the findings from American Century’s 11th Annual Retirement Survey, highlighting how these evolving views are influencing employers’ goals and strategies in designing their organizations’ plans. With income replacement becoming a critical focus for participants, plan sponsors are increasingly recognizing the need to align retirement plans with these expectations. Additionally, there is a growing emphasis on guaranteed income solutions to better meet the evolving retirement goals of employees. By adapting plans to meet participants’ needs and incorporating sought-after design features, plan sponsors can drive deeper engagement and achieve better outcomes for their participants. |
| |  | SPONSORED BY: Principal | October 30, 2024 | Rethinking Retirement: Participant Engagement Trends and Best Practices | Dive into key participant behaviors and engagement trends that can reshape how we approach retirement planning. This presentation highlights the complexities participants face in understanding their eligibility and reveals misconceptions about their enrollment. We’ll explore targeted strategies to help boost participation rates and address certain generational gaps. In today’s saturated digital environment, participants are conditioned to ignore marketing-style emails.
Discover best practices in how to refine your messaging and break through the noise. Finally, we’ll explore why the “easy button” plan features haven’t been working. By evolving messaging to meet participants where they are paired with best practice plan design features, we aim to drive deeper engagement and better outcomes.
*Principal® Retirement Security Survey—Nonparticipants, December 2023.
Intended for Plan Sponsor use only.
PLANSPONSOR is not an affiliate of any company of the Principal Financial Group®.
The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment or tax advice. You should consult with appropriate counsel, financial professionals, and other advisors on all matters pertaining to legal, tax, investment or accounting obligations and requirements.
Insurance products and plan administrative services provided through Principal Life Insurance Company®. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.
Principal®, Principal Financial Group®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and services marks of Principal Financial Services, Inc., in various countries around the world.
© 2024 Principal Financial Services, Inc.
3893943-092024 |
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