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Wilmington Trust Launches CIT Onboarding Tool
Wilmington Trust Launches CIT Onboarding Tool
The tool for employer-sponsored plans seeks ‘democratization’ of the use of collective investment trusts. 
Deals and People
EBRI CEO Lori Lucas Announces Pending Retirement
Lucas will stay at the helm through the end of the year while helping the research group source its next leader.
Most Read
Is the UAW’s Demand for Return of Pensions a Realistic Ask?
Deals and People
Voya Keeps Building Government Markets Team With Rehire
Data and Research
Unplanned Financial Challenges Continue to Plague US Workers’ Retirement Savings
U.S. total business end-of-month inventories for July were $2,434.3 billion, up 0.6% from last month. U.S. total business sales were $1,839.5 billion, down 0.9% from last month, the Census bureau reported. 

Advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $683.3 billion, an increase of 0.3% from the previous month, and 9.1% above August 2021, the Census Bureau reported. Total sales for June through August were up 9.3% from the same period a year ago. The June to July percent change was revised from virtually unchanged to down 0.4%. Retail trade sales were up 0.2% from July, and up 8.9% above last year. Sales at gasoline stations were up 29.3% from August 2021, while sales by nonstore retailers were up 11.2% from last year.

In the week ending September 10, the advance figure for seasonally adjusted initial claims for unemployment insurance was 213,000, a decrease of 5,000 from the previous week’s revised level, the Department of Labor reported. The previous week’s level was revised down by 4,000 from 222,000 to 218,000. The four-week moving average was 224,000, a decrease of 8,000 from the previous week’s revised average. The previous week’s average was revised down by 1,000 from 233,000 to 232,000.

Interest on a 30-year fixed-rate mortgage averaged 6.02% for the week ending September 15, up from last week when it averaged 5.89%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.86%. Interest on a 15-year fixed-rate mortgage averaged 5.21%, up from last week when it averaged 5.16%. A year ago at this time, the 15-year FRM averaged 2.12%.
Thursday, the Dow sagged 173.27 points (0.56%) to close at 30,961.82, the Nasdaq decreased 167.32 points (1.43%) to end trading at 11,552.357 and the S&P 500 lost 44.66 points (1.13%) to settle at 3,901.35. The Russell 2000 dwindled 13.23 points (0.72%) to finish at 1,825.23 and the Wilshire 5000 dropped 423.07 points (1.07%) to close at 39,122.18.

The price of the 10-year Treasury note decreased 4/32, bringing the yield up to 3.453%. The price of the 30-year Treasury bond fell 2/32, bringing the yield to 3.473%.
Vestwell Announces Vestwell Flex for 401(k) TPAs
The firm offers a recordkeeping product that combines the Vestwell platform with the services of third-party administrator partners.
Investment Product and Service Launches
MSCI’s new analytics platform aims to streamline investors’ risk management processes; BrightPlan launches equity compensation planner; and more.
What to Expect From a Retirement Plan Adviser
Join PLANSPONSOR and a panel of experts for a webinar on September 22 as they discuss what services advisers offer to retirement plans; how plan sponsors determine the role they want their advisers to play; and questions to ask when searching for a plan adviser. Panelists will also talk about the fiduciary roles advisers can take on for the plan and the relationship between advisers and plan providers. 
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 1620, English colonists aboard the Mayflower set sail for America, where they founded Plymouth, Massachusetts, after 41 men, including William Bradford and Myles Standish, signed the Mayflower Compact. In 1810, Miguel Hidalgo y Costilla, a Catholic priest, launched the Mexican War of Independence by issuing his Grito de Dolores, or “Cry of Dolores.” The revolutionary tract called for the end of 300 years of Spanish rule in Mexico, redistribution of land and racial equality. In 1908, Buick Motor Company head William Crapo Durant paid $2,000 to incorporate General Motors in New Jersey. 1953, Major League Baseball’s St. Louis Browns were allowed to move to Baltimore, where they became the Baltimore Orioles. In 1975, Papua New Guinea achieved full independence from Australia. In 1994, Exxon Corporation was ordered by a federal jury to pay $5 billion in punitive damages to the people harmed by the 1989 Exxon Valdez oil spill in Prince William Sound, Alaska.
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