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Weekday news and analysis for retirement plan advisers
Friday, June 16, 2023
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Great Resignation Drives 20% Jump in Forgotten 401(k) Accounts
PA-061523-Forgotten-401k-Accounts-1447245140-web
The left-behind 401(k) accounts are estimated to hold about $1.65 trillion in assets, as of May.
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Investment Product and Service Launches
Aptus Capital Advisors Launches New Enhanced Yield ETF; MetLife and Lyra Health Expand Workplace Mental Health Access; Alight Expands Global Employee Benefits Solution.
Today’s Most Read
1. Vestwell Adds TIAA Lifetime Income Offering
2. Salesforce Settles 401(k) Suits for $1.35M
3. Alera Group Acquires $24B Advanced Capital Group
DOL Says to Expect Fiduciary Proposal in August
The new rule would seek to redefine when investment advisers for plans and IRAs are 3(21) fiduciaries.
Retirement Advisory NFP Promotes Keeling to CIO
NFP Retirement continues to build its team under new president Joel Shapiro, who started in May.
Retirement Income Today: How Advisers Can Leverage GLWBs
In-plan annuity products are proliferating, but if advisers want an option today, they should know about the guaranteed lifetime withdrawal benefit.
Market Mirror Market Mirror Graph

Thursday, the Dow rose 428.73 points (1.26%) to close at 34,408.06, the Nasdaq rose 156.34 points (1.15%) to close at 13,782.82 and the S&P 500 rose 53.25 points (1.22%) to close at 4,425.84. The Russell 2000 gained 15.18 points (0.81%) to close at 1,889.28, and the FT Wilshire 5000 Total Market Index gained 534.43 points (1.21%) to close at 44,656.48. 

The price of the 10-year Treasury note increased 27/32, bringing the yield to 3.723%. The price of the 30-year Treasury bond increased 30/32, bringing the yield to 3.839%.

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