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Weekday news and analysis for retirement plan advisers
Friday, February 24, 2023
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Top Economist: Recession Coming, But Boomer Retirees to Mitigate Job Cuts
The US is expected to enter a “short and shallow” recession in 2023, according to the Conference Board’s top economist.
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Fidelity: Gen Z Savers Pour Into IRAs
For all age groups, however, average 401(k) balances were down 23% in 2022 due to declines in both stocks and bonds.
Today’s Most Read
1. 2023 PLANADVISER Top Retirement Plan Advisers
2. 2023 PLANADVISER Top Retirement Plan Advisers
3. Why 529 Education Savings Plans Are More Valuable Than Ever
Legal Complaint Says DOL’s ESG Rule “Jeopardizes” Retirement Savers
A second lawsuit in less than a month has been brought challenging the legality of the DOL’s rule concerning ESG in retirement plans.
AON Boosts Staff to Further $1B Pooled Employer Plan
Aon continues pooled employer plan push, adding headcount to keep adding beyond over $1B in reported assets and commitments in its PEP.
Register Now to Attend Our Virtual DB Summit
The DB Summit is designed to help plan sponsors that have or are considering adding a DB plan make the important decisions. Discussions and presentations on March 8 and 9 will focus on whether the future environment is conducive to more pension risk transfers, to keeping plans active or to reopening closed plans, as well as what investing strategies can help plan sponsors reach their plan goals. Join us as we explore the prospective role of DB plans in American’s retirement security. Receive a $10 coffee card if you are among the first 100 registrants who log into the event each day.    
Market Mirror Market Mirror Graph

Thursday, the Dow increased 108.82 points (0.33%) to close at 33,153.91, the Nasdaq increased 83.33 points (0.72%) to close at 11,590.40 and the S&P 500 gained 21.27 points (0.53%) to close at 4,012.32. The Russell 2000 increased 13.42 points (0.71%) to close at 1,908.09 and the Wilshire 5000 gained 194.00 points (0.49%) to close at 40,120.14.

The price of the 10-year Treasury note decreased 1/32, bringing the yield to 3.883%. The price of the 30-year Treasury bond decreased 1/32, bringing the yield to 3.888%.

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