November 4th, 2024 Insight on Plan Design & Investment Strategy Every Weekday Benefits Personalization Push Persists Increased data availability has led to many more ways to customize the management of retirement portfolios. Administration IRS Increases 401(k) Limit to $23,500 for 2025, IRA Limit Stays $7,000 The announcement comes with guidance on all the cost-of-living adjustments affecting limitations for pension plans and other retirement-related items for tax year 2025. Most Read Benefits Rothification, AI Advancements Among Expected Retirement Plan Trends for 2025 Data and Research State Auto-IRA Challenges Demonstrate Need for Federal Retirement Program, per BPC Data and Research Cryptocurrency Assets Make Up Small Part of 401(k) Market, GAO Finds ECONOMIC EVENTS Friday, the U.S. Bureau of Labor Statistics reported total nonfarm payroll employment increased by 12,000 October, and the unemployment rate was unchanged at 4.1%. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. MARKET MIRROR Friday, the Dow rose 288.73 points (0.69%) to close at 42,052.19, the Nasdaq rose 144.77 points (0.80%) to close at 18,239.92 and the S&P 500 rose 23.35 points (0.41%) to close at 5,728.80. The Russell 2000 rose 13.48 points (0.61%) to close at 2,210.13, and the FT Wilshire 5000 Index rose 231.78 points (0.41%) to close at 57,410.46. The 10-year Treasury note decreased 29/32, bringing the yield to 4.388%. The 30-year Treasury bond decreased 1 28/32, bringing the yield to 4.582%. In the week ending November 1, the Dow fell 0.15%, the Nasdaq fell 1.50% and the S&P 500 fell 1.37%. The Russell 2000 rose 0.10%, and the FT Wilshire 5000 Index finished 1.15% lower. Investing With Election Nearing, How Should Plan Sponsors Communicate With Participants? As uncertainty looms ahead of the upcoming presidential election, many expect volatility in the stock market. Deals and People Retirement Industry People Moves Wagner Law Group adds Schloss; Schroders expands US pensions team with Schechter as senior client director; The Standard hires Mulquin as regional vice president; and more. SMALL TALK ON THIS DATE: In 1924, politician Nellie Tayloe Ross became the first woman to be elected governor of a U.S. state (Wyoming). In 1979, a hostage crisis in Iran began as the U.S. embassy in Tehran was seized by Iranian militants in a move sanctioned by Ayatollah Ruhollah Khomeini. In 1980, conservative Republican Ronald Reagan was elected the 40th president of the U.S. In 1995, Israeli Prime Minister Yitzhak Rabin, corecipient with Shimon Peres and Yasir Arafat of the Nobel Prize for Peace in 1994, was assassinated while attending a peace rally. In 2001, the first film adaptation of J.K. Rowling’s best-selling Harry Potter series, Harry Potter and the Sorcerer’s Stone, premiered in London. In 2008, Democratic politician Barack Obama became the first African American elected president of the U.S. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850