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November 30th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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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. |  | | September 19, 2024 | | Financial Wellness | | Plan sponsors, advisers and policy experts will offer suggestions for how best to define and measure the financial wellness of participants and drive financial confidence. The panel will also review how they evaluate the myriad new offerings appearing as a result of the voluntary benefits provisions of SECURE 2.0. Attendees will come away with tangible metrics for determining which programs will offer the most useful and valuable programs for their employees. |
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| | | 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. |
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|  | | SPONSORED BY: Principal Financial Group | June 26, 2024 | | Best practices to manage defined benefit plan costs and risks | | Defined benefit plan sponsors are faced with a myriad of challenges when assessing the impact of plan costs and risks across their organization. Join our panel of pension specialists and learn about the:
- strategies to reduce Pension Benefit Guaranty Corporation (PBGC) premiums.
- value of accurate data. - benefits of consolidating service providers.
- importance of re-examining the DB plan formula.
- advantages of hedging risk before and after a pension risk transfer. |
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|  | | SPONSORED BY: Corebridge Financial | June 20, 2024 | | The Future of Work in an Aging World | | A combination of longer life expectancy and plunging birth rates has created a very different demographic future, especially in industrialized countries. In the US, we are entering Peak 65®, the period when most of the Baby Boom generation will have already retired, and by the end of this decade, people over the age of 65 in the US will outnumber people under the age of 18 for the first time ever. Over the last century, the population over the age of 65 has grown at a rate five times faster than the total population and will continue to do so for the foreseeable future.
Other countries have begun to feel the consequences of aging long before the US. In Japan, 30% of the population is already over 65, and 10% is over 80. Countries like Japan, South Korea and Singapore have already begun to reshape work, retirement, health care, and housing rules to prepare for the “silver tsunami”.
These changes will have profound implications on everything from how we work to how and when we retire to how we think about healthy aging.
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|  | | SPONSORED BY: Newport, an Ascensus company | June 13, 2024 | | Gain the Edge: Navigating NQDC Trends | |
Recent changes in the nonqualified deferred compensation (NQDC) plan landscape present new opportunities for employers. Tap into the latest trends—and use them to your advantage.
Newport, an Ascensus company, and PLANSPONSOR have partnered to bring you the 2024 Newport/PLANSPONSOR NQDC Trends Survey. Don’t miss this year’s webinar, where our experts will share critical insights from the report.
Leveraging data from over 268 of the country’s leading employers, this report is the retirement industry’s broadest and most comprehensive employer view of NQDC plans. |
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