September 28th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Data and Research Student Loan Repayments Expected to Derail Employees’ Retirement Savings Nearly 75% of student loan borrowers expect that resuming payments will impact their ability to save for retirement, and some say they plan to reduce their contributions, new data shows.  Benefits Senate Committee Passes Bill Permitting Marijuana Industry Employers to Sponsor Retirement Plans The SAFER Banking Act would permit marijuana firms to access banking and financial services, including retirement plans. Most Read Deals and People Voya Announces Acquisition of OneAmerica's Retirement Plan Business Benefits ERISA Advisory Council Delves Into QDIA Retirement Income Offerings Benefits Social Security COLA for 2025 Projected at 2.5% ECONOMIC EVENTS New orders for manufactured durable goods in August, up five of the last six months, increased $500 million or 0.2% to $284.7 billion, the Census Bureau reported. This followed a 5.6% July decrease. Excluding transportation, new orders increased 0.4%. Excluding defense, new orders decreased 0.7%. Machinery, up four of the last five months, led the increase, $0.2 billion or 0.5% to $37.8 billion. MARKET MIRROR Wednesday, the Dow fell 68.61 points (0.20%) to close at 33,550.27, the Nasdaq rose 29.24 points (0.22%) to close at 13,092.85 and the S&P 500 rose 0.98 points (0.02%) to close at 4,274.51. The Russell 2000 rose 17.29 points (0.98%) to close at 1,778.90, and the FT Wilshire 5000 Index rose 60.09 points (0.14%) to close at 43,086.38. The 10-year Treasury note fell 6/32, bringing the yield to 4.616%. The 30-year Treasury bond fell 28/32, bringing the yield to 4.721%.  Benefits Plan Sponsors Offering Wellness Resources See Increased Worker Satisfaction Bank of America recommends plan sponsors act to promote greater employee retirement readiness.   Participants If the Goal Is Engagement Steps to better outcomes for the plan next year. EVENTS Debunking Mighty Powerful Medicare Myths During this webinar, scheduled for October 5, you’ll find out more than you thought you needed to know about Medicare so you can better help your employees who will need to start Medicare soon. And you’ll see why offering a high-deductible health plan with an HSA may be a key to debunking these myths. SMALL TALK ON THIS DATE: In 1911, using the pretext of infringement of Italian interests in the Turkish provinces of Tripolitana and Cyrenaica (Libya), the Italian government issued an ultimatum to Turkey and declared war the next day. In 1920, in what became known as the Black Sox Scandal, eight members of the Chicago White Sox baseball team were indicted by a grand jury on charges that they had thrown the 1919 World Series to the Cincinnati Reds in return for a bribe. In 1958, Madagascar voted for autonomy within the French Community. In 1960, at Boston’s Fenway Park, Red Sox star Ted Williams hit a home run in the last at-bat of his 21-year career. In 2003, tennis player Althea Gibson—the first African American to win singles titles at the French Open 1956; Wimbledon 1957 and 1958; and the U.S. Open 1957 and 1958—died at age 76. In 2008, SpaceX successfully launched Falcon 1, becoming the first privately owned company to send a liquid-fueled rocket into orbit. 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