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Weekday news and analysis for retirement plan advisers
Monday, August 21, 2023
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Capital Group Piloting Benartzi’s PensionPlus Retirement Income Manager
PAPS-081823-CapGroup-Taps-PensionPlus-1351745814-web
The owner of American Funds adds PensionPlus to its TDF retirement series with goal of giving advisers a retirement paycheck calculator for plan sponsor clients.
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State-Sponsored Retirement Plans Now Hold More Than $1B
The pace of savings growth in state plans is accelerating, led by programs in California, Oregon and Illinois.
Today’s Most Read
1. LPL Terminates CEO Arnold for Violating “Respectful Workplace” Rules
2. Charles Schwab CEO Walt Bettinger to Retire
3. DC Plan Experts See Slow, Steady Progress in Plan Personalization
The PLANADVISER Interview: David Musto, Chair and CEO, Ascensus
The head of Ascensus discusses the importance of partnering with advisers to foster innovation in the retirement plan space.
Retirement Industry People Moves
Corebridge names Muderrisoglu head of investor and ratings relations; TIAA promotes Houser to head of institutional sales; Tifin Amp’s founder Nair steps aside, Gagliano named CEO; and more.
Maximize Plan Committee Meeting Times
Plan committee meetings are often the main face-to-face time that advisers have with their clients and are crucial times for the committee to use good plan governance in making its decisions. Thus, it is key for the adviser to help focus the meeting topics, to initiate effective discussions about needed plan changes, and to help the group discuss complex decisions constructively.
Market Mirror Market Mirror Graph

Friday, the Dow rose 25.83 points (0.07%) to close at 34,500.66, the Nasdaq fell 26.16 points (0.20%) to close at 13,290.78 and the S&P 500 fell 0.65 points (0.01%) to close at 4,369.71. The Russell 2000 rose 9.36 points (0.51%) to close at 1,859.42 and the FT Wilshire 5000 Index rose 23.90 points (0.054%) to close at 44,074.86.

The price of the 10-year Treasury note rose 2/32, bringing the yield to 4.253%. The price of the 30-year Treasury bond rose 2/32, bringing the yield to 4.380%. 

For the week ending August 18, the Dow fell 2.21%, the Nasdaq fell 2.59K% and the S&P 500 fell 2.11%. The Russell 2000 fell 3.41%, and the FT Wilshire 5000 Index ended 2.25% lower.

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