October 12th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits PLANSPONSOR Roadmap: Check Your Demographic Mirrors Using data on participants’ attitudes about saving and investing can help plan sponsors create more tailored benefits, according to panelists. Compliance Sponsors Need Clarity on Emergency Savings Accounts, Say Industry Advocates In comment letters submitted to the Department of Labor, concerns expressed ranged from QDIAs to permitted withdrawals. Most Read Compliance Regulators Clarify Part-Time Eligibility Rules for ERISA 403(b) Plans Opinions Accumulating Differences: Why Personalization Matters More for Older Investors Products Apollo, Athene Working On Alts, Annuities in DC Investing ECONOMIC EVENTS The Producer Price Index for final demand increased 0.5% in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices rose 0.7% in August and 0.6% in July. On an unadjusted basis, the index for final demand advanced 2.2% for the 12 months ended in September, the largest increase since moving up 2.3% for the 12 months ended in April. MARKET MIRROR Tuesday, the Dow rose 65.57 points (0.19%) to close at 33,804.87, the Nasdaq rose 96.83 points (0.71%) to close at 13,659.68 and the S&P 500 rose 18.71 points (0.43%) to close at 4,376.95. The Russell 2000 lost 2.65 points (0.15%) to close at 1,773.30, and the FT Wilshire 5000 gained 168.97 points (0.39%) to close at 44,040.23. The 10-year Treasury note increased 30/32, bringing the yield to 4.564%. The 30-year Treasury bond increased 2 0/32, bringing the yield to 4.697%. Compliance PLANSPONSOR Roadmap: SECURE 2.0 GPS Experts review the road map for current and upcoming dates of the retirement legislation. Data and Research Youngest Workers Feel They Face Most Retirement Obstacles Workers from Generation Z say the cohort experiences higher financial stress than other generations, affecting their job performance, according to a Charles Schwab study. Plan Design Upgraded NQDC Plans Sponsors get creative with how they use these supplemental benefits. SMALL TALK ON THIS DATE: In 1492, the New World was “discovered” when land was sighted in the Caribbean from the Pinta, one of the three ships that participated in Christopher Columbus’s historic voyage. In 1901, President Theodore Roosevelt officially changed the name of the president’s residence at 1600 Pennsylvania Avenue in Washington, D.C. from Executive Mansion to the White House. In 1915, during World War I, English nurse Edith Cavell was executed by a German firing squad for assisting Allied soldiers in escaping from German-occupied Belgium. In 1968, Equatorial Guinea gained its independence from Spain. In 1998, American college student Matthew Shepard died in Fort Collins, Colorado, several days after being beaten by two men and left in the cold in Laramie, Wyoming; Shepard’s queer identity was believed to have motivated the attack, and his death contributed to the expansion of federal hate-crime legislation. In 1999, 7-foot-1 basketball player Wilt Chamberlain, considered one of the greatest offensive players in the history of the game, died at age 63. In 2000, while preparing to refuel in the Yemeni port of Aden, the USS Cole, a U.S. naval destroyer, was attacked by suicide bombers associated with al-Qaeda; 17 sailors were killed and 39 wounded. In 2001, the centennial Nobel Prize for Peace was awarded to the United Nations and the organization’s secretary-general, Kofi Annan. 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