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Weekday news and analysis for retirement plan advisers
Monday, March 06, 2023
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Senators Propose Repealing Social Security Cuts to Public Pensioners
PA-030323-Social-Security-Fairness-Act-1355130689-web
The Social Security Fairness Act would repeal two provisions that reduce payments to many retirees collecting public pensions.
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529 College Savings Plans Reach Record Amid Student Loan Forgiveness Debate
529 college savings plans reach $411 billion as Supreme Court and private industry considers how to manage student loan burdens.
Today’s Most Read
1. It’s Time We Stopped Evaluating Managed Accounts from 2006
2. Hub Launches Retirement Select PEP
3. The Expansive Reach of the DOL’s Proposed Fiduciary Rule
John Hancock Promotes Brooks Tingle to Replace Marianne Harrison as CEO
Harrison will retire after 20 years at investing, insurance and retirement firm, replaced by insurance head Tingle.
Retirement Industry People Moves
CastleKeep names Mike Benevento partner; Snowden Lane Partners adds Eduardo Alvarez Andreu; Matt Berman named president at Foresters Financial; and more.
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.  Join us as we explore the prospective role of DB plans in American’s retirement security on March 8 and 9. 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

Friday, the Dow gained 387.40 points (1.17%) to close at 33,390.97, the Nasdaq gained 226.02 points (1.97%) to close at 11,689.01 and the S&P 500 gained 64.29 points 1.61% to close at 4,045.64. The Russell 2000 increased 25.60 points (1.35%) to close at 1,928.26 and the Wilshire 5000 increased 638.71 points (1.60%) to close at 40,450.95.

The price of the 10-year Treasury note increased 30/32, bringing the yield to 3.960%. The price of the 30-year Treasury bond increased 1 32/32, bringing the yield to 3.880%.

For the week ending March 3, the Dow gained 1.75%, the Nasdaq gained 2.58% and the S&P 500 increased 1.90%. The Russell 2000 increased 2.00% and the Wilshire 5000 finished 1.92% higher.

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