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Weekday news and analysis for retirement plan advisers
Monday, October 24, 2022
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IRS Reveals 2023 Contribution Caps for 401(k) and IRAs
PA-101121-IRS-Snapshot-Special-415-Limits-403b-1268668066-web
The contribution limit changes reflect cost of living changes from this year.
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Advisers are Adopting Technology, Model Portfolios
More practices are looking to upgrade their technology and implement direct indexing and model portfolios as they look to spend more time on client service.
Today’s Most Read
1. Legislation Introduced That Would Reverse Retirement Security Rule
2. Do Managed Accounts Need a Rebrand?
3. BlackRock’s Retirement Lead Ackerley Moving to Senior Adviser Role
Think Again: When Should Workers Begin Saving for Retirement?
A new study in the Journal of Retirement argues that if one’s goal for retirement saving is to keep their income as level as possible through their life, then they should postpone retirement saving at least into their 30s.
Retirement Industry People Moves

FIS names president and CEO; Aon names fiduciary services practice leader; CAPTRUST adds Massachusetts-based Patriot Pension Advisors; and more.

Millennials and Gen Z Wealth Rises 25%, Outpacing Gen X and Boomers
The growing wealth of younger generations brings more challenges – and opportunities – to the investing and retirement planning sector, according to a report from Cerulli. 
Market Mirror Market Mirror Graph

Friday, the Dow increased 748.97 points (2.47%) to finish trading at 31,082.56, the Nasdaq gained 244.87 points (2.31%) to close at 10,859.72 and the S&P 500 increased 86.97 points (2.37%) to close at 3,752.75. The Russell 2000 gained 37.85 points (2.22%) to close at 1,724.24 and the Wilshire 5000 increased 829.60 points (2.27%) to end trading at 37,419.45.

 

The price of the 10-year Treasury note increased 1/32 bringing the yield down to 4.224%. The price of the 30-year Treasury bond decreased 1 28/32 bringing the yield up to 4.335%.

 

For the week ending October 21, the Dow increased 4.89%, the Nasdaq gained 5.22% and the S&P 500 was up 4.74%. The Russell 2000 increased 2.49% and the Wilshire 5000 finished 4.59% higher.

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