Market Commentary:
April 2008
April 2008
The Government’s preliminary estimate of first quarter Gross Domestic Product (GDP) indicated that the economy grew 0.6%, which was equal to that of the fourth quarter last year. Most of the positive economic effects came from the buildup of domestic inventories, as well as the continued rise in exports due to the fall in the U.S. dollar (making U.S. goods relatively cheap). With the easing of interest rates and unprecedented injection of liquidity into the markets on the part of the Federal Reserve, it remains to be seen how much inflation will rise in the coming months...
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Best Practices for 403(b) Plans
In words of the Internal Revenue Service (IRS) on July 23, 2007, a momentous event occurred in the world of 403(b) plans with the issuance of the first comprehensive set of regulations in 43 years...
...For the first time, IRS rules require 403(b) plans to operate according to a written plan document--similar to that of an ERISA 401(k) plan...
...For the first time, IRS rules require 403(b) plans to operate according to a written plan document--similar to that of an ERISA 401(k) plan...
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