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PLANSPONSOR NEWSDASH LOGO November 4th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Women Have Significantly Less Wealth than Men at Retirement
Women Have Significantly Less Wealth than Men at Retirement
In the U.S., the gender wealth gap at retirement mirrors the global average. 
Compliance
Excessive Fee Complaint Filed Against Large Freight Transporter
The Phoenix-based company is alleged to have breached its fiduciary duty to plan participants.
Most Read
Compliance
Senator Cardin Worried SECURE 2.0 Won’t Pass This Year
Investing
Morgan Stanley Expands Robo-Advising Tech with Blooom Purchase
Compliance
Republicans Move to Prevent SEC Climate Disclosure Requirements
ECONOMIC EVENTS
In the week ending October 29, the advance figure for seasonally adjusted initial claims for unemployment insurance was 217,000, a decrease of 1,000 from the previous week’s revised level, the Labor Department reported. The previous week’s level was revised up by 1,000 from 217,000 to 218,000. The four-week moving average was 218,750, a decrease of 500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 219,000 to 219,250.

Interest on a 30-year fixed-rate mortgage averaged 6.95% for the week ending November 3, down from last week when it averaged 7.08%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.09%. Interest on a 15-year fixed-rate mortgage averaged 6.29%, down from last week when it averaged 6.36%. A year ago at this time, the 15-year FRM averaged 2.35%.
MARKET MIRROR
Thursday, the Dow lost 146.51 points (0.46%) to close at 32,001.25, the Nasdaq decreased 181.86 points (1.73%) to finish trading at 10,342.94 and the S&P 500 was down 39.80 points (1.06%) to close at 3,719.89. The Russell 2000 lost 9.41 points (0.53% ) to close at 1,779.73 and the Wilshire 5000 decreased 368.89 points (0.98%) to close at 37,195.03.

The price of the 10-year Treasury note decreased 25/32, bringing the yield up to 4.152%. The price of the 30-year Treasury bond decreased 29/32, bringing the yield up to 4.186%. 
EVENTS
Exploring ESG Investing Conference
Join us Thursday, November 10, for a virtual conference to learn about regulations for environmental, social and governance investing in retirement plans; the debate over whether ESG factors are financial/performance factors; and what allocators, plan sponsors and advisers should consider when deciding whether and how to use ESG investments. 
PRODUCTS
Investment Product and Service Launches
BNY Mellon Investment Management launches active global infrastructure income ETF; FTSE Russell introduces Russell 3000 Fixed Income Index; Vanguard environmental fund now available for investment; and more.
SMALL TALK
ON THIS DATE: In 1842, Abraham Lincoln married Mary Anne Todd, in Springfield, IL. In 1922, British archaeologist Howard Carter discovered the tomb of the Egyptian pharaoh Tutankhamen. In 1924, Nellie T. Ross of Wyoming was elected America’s first woman governor. In 1979, the Iran hostage crisis started after student followers of the Ayatollah Khomeini stormed the U.S. embassy in Tehran. In 1980, Republican Ronald Reagan was elected the 40th president of the U.S. In 1995, Israeli Prime Minister Yitzhak Rabin, was assassinated. In 2008, then-U.S. Senator Barack Obama of Illinois defeated Senator John McCain of Arizona to become the 44th U.S. president, and the first African American elected to the White House.
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