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Weekday news and analysis for retirement plan advisers
Monday, July 31, 2023
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House Spending Bill Would Block EBSA’s ESG Rule, but Senate’s Would Not
CIOPA-07272023-DOL-budget-items-1449296710-web
Congress has until September 30 to pass a budget bill.
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Vestwell Acquires Student Loan Benefits Firm Gradifi From Morgan Stanley

The move adds student loan-related tools such as employee payment management and debt refinancing to the digital 401(k) provider’s platform.

Today’s Most Read
1. Ascensus to Acquire AmericanTCS
2. PLANADVISER 2026 Retirement Plan Adviser of the Year Winners
3. Steve Scanlon, Bryan Pinsky to Lead Retirement Divisions Following Equitable-Corebridge Merger
Retirement Industry People Moves
AdvicePay names Suaickie CEO as Moore shifts to board; Plan Sponsor University brings on Kelleher as consultant; Ascensus names retirement sales regional VPs; and more.
Voya Brings Pooled Employer Plan Option to 403(b) Plans
The firm calls its Secure Retirement 403(b) PEP the first to market, following a years-long push for PEPs in the private 401(k) space.
Learn About the Latest Litigation Threats at the 2023 PLANADVISER National Conference
At the 2023 PLANADVISER National Conference, Hugh O’Toole, CEO of Innovu, will discuss how the fiduciary standard and process now apply to health care plans (thanks to the Consolidated Appropriations Act of ’21), and howplan advisers may be able to help keep sponsors out of harm’s way for lawsuits and fines.  
Market Mirror Market Mirror Graph

Friday, the Dow fell 237.40 points (0.67%) to close at 35,282.72 the Nasdaq fell 77.18 points (0.55%) to close at 14,050.11 and the S&P 500 fell 29.34 points (0.64%) to close at 4,537.41 The Russell 2000 lost 25.46 points (1.29%) to close at 1,954.90 and the FT Wilshire 5000 Index rose 489.30 points (1.07%) to close at 46,324.81.

The price of the 10-year Treasury note rose 26/32, bringing the yield to 3.954%. The price of the 30-year Treasury bond rose 27/32, bringing the yield to 4.013%.

For the week ending July 28, the Dow rose 6.18%, the Nasdaq rose 0.12% and the S&P 500 rose 0.02%. The Russell 2000 fell 0.27%, and the FT Wilshire 5000 Index finished 0.98% higher.

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