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ESG Bluster Leads to No Effect for Three States’ Retirement Systems
ESG Bluster Leads to No Effect for Three States’ Retirement Systems
For state pension funds considering environmental, social and governance investments, the sustainable strategies may be mightier than the letter.
Data and Research
Knot of Financial Challenges Derails Saving for Retirement
Goldman Sachs Asset Management finds a ‘financial vortex’ of challenges in competing financial priorities is preventing participants from saving sufficiently for retirement. 
Most Read
Humana Inc. Defeats Class Action Claims of Excessive 401(k) Fees
Rhode Island Becomes 20th State to Pass Retirement Savings Program
Wells Fargo Targeted in New 401(k) Forfeiture Lawsuit
In September, the Consumer Price Index for All Urban Consumers increased 0.4%, seasonally adjusted, and rose 8.2% over the last 12 months, not seasonally adjusted, the Bureau of Labor Statistics reported.  The index for all items less food and energy increased 0.6% in September and is up 6.6% over the year.

In the week ending October 8, the advance figure for seasonally adjusted initial claims for unemployment insurance was 228,000, an increase of 9,000 from the previous week’s unrevised level of 219,000, the Labor Department reported. The four-week moving average was 211,500, an increase of 5,000 from the previous week’s unrevised average of 206,500.

Interest on a 30-year fixed-rate mortgage averaged 6.92% for the week ending October 13, up from last week when it averaged 6.66%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.05%. Interest on a 15-year fixed-rate mortgage averaged 6.09%, up from last week when it averaged 5.90%. A year ago at this time, the 15-year FRM averaged 2.30%.
Thursday, the Dow gained 827.87 points (2.83%) to close at 30,038.72, the Nasdaq increased 232.05 points (2.23%) to finish trading at 10,649.15 and the S&P 500 gained 92.88 points (2.60%) to close at 3,669.91. The Russell 2000 increased 40.65 points (2.41%) to close at 1,728.41 and the Wilshire 5000 gained 863.08 points (2.41%) to close at 36,672.76.

The price of the 10-year Treasury note decreased 4/32 bringing the yield up to 3.953%. The price of the 30-year Treasury note decreased 31/32 bringing the yield up to 3.935%.
Social Security Cost-of-Living Adjustment Sees Highest Increase in 40 Years
The increase is aimed at combating rising inflation.
Investment Product and Service Launches
Vanguard announces changes for Vanguard International Explorer Fund; Transamerica program aids small businesses in employee retirement and health savings; Hearsay introduces RIA platform aimed at small firms.
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.
ON THIS DATE: In 1892, the “Adventures of Sherlock Holmes,” by Arthur Conan Doyle, was published. The book was the first collection of Holmes stories, which Conan Doyle had been publishing in magazines since 1887. In 1893, Lillian Gish, a pioneering actress of the screen and stage, and a director and writer, was born. In 1908, the Chicago Cubs beat the Detroit Tigers to win the team’s second World Series championship; they did not claim their third title until 2016. In 1926, English humorist A.A. Milne published “Winnie-the-Pooh,” a children’s book featuring the adventures of a honey-loving bear and his friends, including Eeyore and Piglet. In 1947, U.S. Air Force Captain Chuck Yeager became the first person to fly faster than the speed of sound. In 1964, Baptist minister and social activist, Reverend Dr. Martin Luther King, Jr., was named the winner of the Nobel Prize for Peace, for his civil rights and social justice work. In 2007, the reality TV series “Keeping Up with the Kardashians” premiered and the show’s huge popularity helped make various family members major celebrities, notably Kim Kardashian. In 2012, after arriving at Los Angeles International Airport, the space shuttle Endeavour reached its final destination, the California Space Center.
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