September 29th, 2023 Insight on Plan Design & Investment Strategy Every Weekday Benefits Social Security Administration Cannot Calculate 2024 COLA if Government Shuts Down The Bureau of Labor Statistics, which would shut down completely, produces the data necessary to update the COLA. Compliance Plaintiffs File Dueling Motion in NYC Pension Funds ESG Lawsuit Plaintiffs seek to add former U.S. Labor Secretary Eugene Scalia to their legal team. Most Read Benefits Social Security COLA Increase to Add About $50 per Month in 2025 Administration Many Taxpayers Dodged Penalty Tax for Early Retirement Withdrawals Administration Bills to Ban Arbitration Clauses Reappear in House, Senate ECONOMIC EVENTS In the week ending September 23, the advance figure for seasonally adjusted initial claims was 204,000, an increase of 2,000 from the previous week’s revised level of 202,000, the Department of Labor reported. The four-week moving average was 211,000, a decrease of 6,250 from the previous week’s revised average of 217,250. Interest on a 30-year fixed-rate mortgage averaged 7.31% for the week ending September 28, up from last week when it averaged 7.19%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 6.70%. Interest on a 15-year fixed-rate mortgage averaged 6.72%, up from last week when it averaged 6.54%. A year ago at this time, the 15-year FRM averaged 5.96%.  MARKET MIRROR Thursday, the Dow rose 116.07 points (0.35%) to close at 33,666.34, the Nasdaq rose 108.43 points (0.83%) to close at 13,201.28 and the S&P 500 rose 25.19 points (0.59%) to close at 4,299.70. The Russell 2000 gained 15.41 points (0.87%) to close at 1,794.31, and the FT Wilshire 5000 gained 271.21 points (0.63%) to close at 43,357.59. The 10-year Treasury note decreased 1/32, bringing the yield to 4.578%. The 30-year Treasury bond decreased 1/32, bringing the yield to 4.704%. Benefits Setting Your Plan Up for Success During Open Enrollment Season By making health benefits more affordable for employees and ensuring there is time to explore all offerings, one midsize employer saw increased engagement during open enrollment season.  PRODUCTS Investment Product & Service Launches Vanguard expand active fixed-income lineup; Brandywine announces suite of new investment strategies; RiXtrema launches AI tools for 401(k) plan; and more. SMALL TALK ON THIS DATE: In 1833, King Ferdinand VII of Spain died, and his 2-year-old daughter, Isabella II, was proclaimed queen. In 1906, the U.S. occupied Cuba after a rebellion surrounding the reelection of President Tomas Estrada Palma. In 1923, the British mandate for the establishment of a Jewish homeland in Palestine was approved by the Council of the League of Nations and came into force. In 1938, Poland demanded, and later received, the cession of Teschen, a rich region that had been contested and then divided between Poland and Czechoslovakia following World War I. This occurred concurrently with the Munich Agreement, in which Czechoslovakia ceded the Sudetenland to Nazi Germany. In 1961, Julia Gillard, who in 2010 became Australia’s first female prime minister, was born in Wales, the U.K. In 1962, Canada launched its first satellite. In 1988, the space shuttle Discovery was launched from Cape Canaveral, Florida, marking a resumption of NASA’s space shuttle program, which had been suspended following the explosion of another shuttle, Challenger, during a 1986 launch. In 2005, American jurist John G. Roberts, Jr. was sworn in as the 17th chief justice of the U.S. Supreme Court. 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