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Crane 100 Money Fund Index
4.19%
unch.
annualized 7-day current yield as of 1/19
Jan. MFI Features Yields Bottom at 4.20%; ICI Worldwide; MFI Awards
Money Fund Assets Break Over $7.0 Trillion Says Crane's MFI Daily
Join us for Crane's Bond Fund Symposium in Newport Beach, Calif., March 27-28
ICI Opposes Move to Include Stable Value Funds as 401k Default
Jun 05
07
ICI Opposes Move to Include Stable Value Funds Among 401k Defaults
. The
Investment Company Institute
has written a letter to the
Office of Management and Budget (
OMB)
opposing the
American Council of Life Insurer'
s (
ACLI)
request to return
stable value funds to a list of automatically selected default options for 401k plan participants
. Companies may now designate balanced, lifecycle, and asset allocation funds for automatic enrollment in 401k plans, but
money funds and stable value funds are currently excluded from the "
default" options list
. The ICI letter says that "
approximately $
83 billion of 401(
k) assets is invested in money market mutual funds" and "
money market funds are equally inappropriate as default investments for retirement savings." For more, see
WSJ'
s "
Funds Argue Against 401(
k) Insurance Options"
and
Investment News' "
Trade groups facing off over stable-
value funds"
.
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