September 1st, 2022 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Public Pension Funds Overwhelmingly Favor ESG Resolutions State and local defined benefit pension funds support environmental, social and governance shareholder resolutions at higher rates than do general shareholders, Morningstar research shows.   Compliance Puerto Rico Hospitality Union Pension Latest to Get PBGC Relief The stressed union pension plan will receive more than $28 million in special financial assistance, including interest to the expected date of payment to the plan.  Most Read Participants Is the UAW’s Demand for Return of Pensions a Realistic Ask? Benefits Delay on Catch-Up Provision Allows Employers to Explore Optional SECURE 2.0 Features Data and Research Unplanned Financial Challenges Continue to Plague US Workers’ Retirement Savings MARKET MIRROR Wednesday, the Dow lost 280.44 points (0.88%) to close at 31,510. 43, the Nasdaq sagged 66.93 points (0.56%) to 11,816.20 and the S&P 500 slipped 31.16 points (0.78%) to 3,955.00. The Russell 2000 decreased 11.48 points (0.62%) to 1,844.12 and the Wilshire 5000 sagged 295.14 points (0.74%) to 39,560.86. The price of the 10-year Treasury note was unchanged and the yield decreased to 3.113%. The price of the 30-year Treasury bond increased 1/32 bringing the yield down to 3.214%. UpFront A Look at How 2 Types of DC Plans Differ 403(b) plans once lagged far behind 401(k)s in preparing employees for retirement, but the gap has been narrowing. 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 ON THIS DATE: In 1799, the Bank of Manhattan Company opened in New York City. It was the forerunner of Chase Manhattan Bank. In 1838, frontiersman William Clark, who shared with Meriwether Lewis the leadership of the epic Lewis and Clark Expedition, died. In 1864, the Charlottetown Conference, the first of a series of meetings that ultimately led to the formation of the Dominion of Canada, convened at Charlottetown, Prince Edward Island. In 1897, the first section of Boston’s subway system opened. In 1939, the NAZI Army under German forces controlled by Adolf Hitler bombarded Poland on land and from the air to begin World War II. In 1942, a federal judge in Sacramento, upheld the wartime detention of Japanese Americans as well as Japanese nationals. In 1985, 73 years after it sank to the North Atlantic ocean floor, a joint U.S.-French expedition located the wreck of the RMS Titanic. In 2001, five years of lobbying came to fruition, as the U.S. Postal Service released the first American stamp celebrating Muslim holidays. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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