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Weekday news and analysis for retirement plan advisers
Wednesday, October 18, 2023
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Data & Research
US Retirement System Matches Worldwide Average With C+ Grade
PAPS-101723-US-Retirement-System-Matches-Worldwide-Average-Mercer-Reports-1293980330-web
The US scored 63 on an overall index for pension coverage value, 23 points behind the No. 1 spot held by the Netherlands, according to a Mercer and CFA Institute report.
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Compliance
OMB Begins Holding Stakeholder Meetings for New Fiduciary Rule
The proposal will likely address compensation structures and IRA rollovers, though no draft is available yet.
Today’s Most Read
1. LPL Terminates CEO Arnold for Violating “Respectful Workplace” Rules
2. LPL’s Arnold Has Settlement Chance as Steinmeier Called Worthy Successor
3. Charles Schwab CEO Walt Bettinger to Retire
Inflation Is Reshaping Retirement Outlooks, MFS Reports
Meanwhile, Morgan Stanley finds investors are bearish on the market, with inflation topping the list of concerns.
The PLANADVISER Interview: Kourtney Gibson, Chief Institutional Client Officer, TIAA
The head of the firm’s retirement solutions group talks guaranteed income, the savings gap and treating consultants and advisers as clients.
PLANSPONSOR's DC Survey Closes Soon - Alert Your Clients!
PLANSPONSOR’s annual DC Survey is the most widely used benchmarking data for the defined contribution retirement plan marketplace. Please encourage your clients to participate in the survey. They will get a free copy of an industry report that can be useful in your plan benchmarking conversations with them. Share this link with your clients today: https://bit.ly/3tnSF4D.
Market Mirror Market Mirror Graph

Tuesday, the Dow rose 13.11 points (0.04%) to close at 33,997.65, the Nasdaq fell 34.24 points (0.25%) to close at 13,533.75 and the S&P 500 fell 0.43 points (0.01%) to close at 4,373.20. The Russell 2000 gained 18.98 points (1.09%) to close at 1,766.05, and the FT Wilshire 5000 Index gained 49.11 points (0.11%) to close at 43,987.32.

The 10-year Treasury note decreased 31/32, bringing the yield to 4.839%. The 30-year Treasury bond decreased 1 2/32, bringing the yield to 4.934%. 

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