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PLANSPONSOR NEWSDASH LOGO October 13th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Aon PEP Passes Assets Milestone
Aon PEP Passes Assets Milestone
Aon has accumulated $1billion in plan assets and commitments since it launched the pooled employer plan.  
Compliance
Law Firm Files Motion to Dismiss ERISA Complaint Targeting BlackRock Funds
Attorneys for the defendants have asked a federal district court to dismiss ERISA fiduciary breach claims.
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
The Producer Price Index for final demand increased 0.4% in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices declined 0.2% in August and 0.4% in July. On an unadjusted basis, the index for final demand advanced 8.5% for the 12 months ended in September.

MARKET MIRROR
Wednesday, the Dow lost 28.34 points (0.10%) to close at 29,210.85, the Nasdaq decreased 9.09 points (0.09%) to finish at 10,417.099 and the S&P 500 lost 11.81 points (0.33%) to close at 3,577.03. The Russell 2000 fell 5.15 points (0.30%) to close at 1,687.76 and the Wilshire 5000 decreased 214.57 points (0.59%) to close at 35,911.76.

The price of the 10-year Treasury note increased 3/32 bringing the yield down to 3.907%. The price of the 30-year Treasury note increased 28/32 bringing the yield up to 3.886%.
Investing
401(k) Trading in September Reflects Worst Month Since March 2020
Traders favored equities in the beginning of the third quarter as Wall Street posted gaining, but they preferred fixed-income funds in the quarter’s second half as stocks slid.
Data and Research
Funding Status of Pensions Increases Marginally Despite Equity Market Downturn
Corporate pension funding ratio improves to best rate of the year in September despite 2022’s worst month of market losses
SURVEYS
DC Survey Now Open
For more than 20 years, PLANSPONSOR’s annual Defined Contribution Survey has provided benchmarking data for nearly 50 industries/business sectors and for 401(k), 403(b), and other DC plans, as well as nonqualified plans. Represent your industry and plan type by participating, and you’ll receive a free benchmarking report.
SMALL TALK
In 1775, the Continental Congress authorized construction and administration of the first American naval force—the precursor to the United States Navy. In 1792, the cornerstone was laid for a presidential residence in the newly designated capital city of Washington, D.C, and in 1800, President John Adams became the first president to reside in the executive mansion, known as the White House. In 1897, lawyer Edith Sampson was born. She was the first black American to be appointed as a United Nations delegate and first to be elected as a U.S. circuit judge. In 1903, the Boston Americans (later Boston Red Sox) defeated the Pittsburgh Pirates to win the first modern World Series. In 1946, after being approved by French voters in a referendum, the constitution of the Fourth Republic was adopted. In 1960, the World Series ended on a home run for the first time, after Pittsburgh Pirates’ short stop Bill Mazeroski’s home run beat the New York Yankees. In 1967, the American Basketball Association debuted, with 11 teams. In 2010, the last of 33 miners trapped nearly half a mile underground for more than two months at a caved-in mine in northern Chile, were rescued. The miners survived longer than anyone else trapped underground in recorded history.
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