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PLANSPONSOR NEWSDASH LOGO April 23rd, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Administration
As More Retirees Remain in Plans, Retirement Income Solutions Follow
As More Retirees Remain in Plans, Retirement Income Solutions Follow
Sponsors also say the fiduciary oversight and lower fees that come with staying in the plan help participants.
Data and Research
Americans Remain Confident About Retirement, Even in the Face of the Pandemic
Plus, their confidence in Medicare and Social Security benefits is at an all-time high.
Most Read
1
What Participants Want From Employers’ Retirement Plan Websites
2
2021 Recordkeeping Survey
3
DOL’s Next Moves
4
Allowing for After-Tax Contributions in a 401(a) Plan
5
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.97% for the week ending April 22, down from last week when it averaged 3.04%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.33%. Interest on a 15-year fixed-rate mortgage averaged 2.29%, down from last week when it averaged 2.35%. A year ago at this time, the 15-year FRM averaged 2.86%.

In the week ending April 17, the advance figure for seasonally adjusted initial claims for unemployment insurance was 547,000, a decrease of 39,000 from the previous week’s revised level of 586,000, the Labor Department reported. This is the lowest level for initial claims since March 14, 2020, when it was 256,000. The four-week moving average was 651,000, a decrease of 27,750 from the previous week’s revised average of 678,750. This is the lowest level for this average since March 14, 2020, when it was 225,500.
Market Mirror
Thursday, the Dow lost 321.41 points (0.94%) to finish at 33,815.90, the Nasdaq closed 131.81 points (0.94%) lower at 13,818.41, and the S&P 500 decreased 38.44 points (0.92%) to 4,134.98. The Russell 2000 was down 7.01 points (0.31%) at 2,232.61, and the Wilshire 5000 fell 331.39 points (0.76%) to 43,342.23.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.552%. The price of the 30-year Treasury bond increased 28/32, bringing its yield down to 2.227%.
Compliance
Another Appeals Court Rejects Stock Drop Claims
The 9th U.S. Circuit Court of Appeals has sided with the defendants in a stock drop lawsuit after applying stringent pleading standards established by the Supreme Court.
Products
Investment Product and Service Launches
Ubiquity Retirement + Savings makes ESG options available to 401(k) plans, and HSBC launches AI powered multi asset index.
Small Talk
SURVEY SAYS: Five years ago, I asked NewsDash readers to share their favorite mobile applications (apps). New apps are introduced all the time, and there might have been some that are helpful during the pandemic. So, this week, I’d like to know, how many apps do you have downloaded on your Smartphone, and what are your top three favorites? You may respond to this survey by 6 p.m. Pacific time today.
ON THIS DATE: In 1564, according to tradition, William Shakespeare was born in Stratford-upon-Avon. In 1789, President George Washington moved into the Samuel Osgood House at 3 Cherry Street in Manhattan, New York. It was the first executive mansion. In 1791, future President James Buchanan was born in Cove Gap near Mercersburg, Pennsylvania. In 1872, Charlotte E. Ray became the African-American woman lawyer. In 1896, the Vitascope system for projecting movies onto a screen was demonstrated in New York City. In 1908, President Theodore Roosevelt signed an act creating the U.S. Army Reserve. In 1954, Hank Aaron knocked out the first home run of his Major League Baseball career. In 1968, the Methodist Church and the Evangelical United Brethren Church merged to form the United Methodist Church. In 2005, the first video was uploaded to YouTube.com.

And now it’s time for some FRIDAY FUN!
Helpful features of tape measures.

It is said about little dogs that their “bark is bigger than their bite,” but this bear wasn’t waiting around to find out.

In California, he says he doesn’t know what exactly inspired him, but a man has dressed up in a bear suit, as a character he has named Bearsun, and started walking more than 400-miles from Los Angeles to San Francisco. The journey began on April 12 has drawn fans from all over. The man started a GoFundMe account, which has so far raised $7,100, according to Reuters. Upon reaching San Francisco, he said, he plans to hold an online vote to determine where to donate the money.

In Krakow, Poland, a woman was concerned about a weird-looking animal she saw hanging from a lilac tree outside her home, so she called for help, according to the BBC. Animal welfare officers were able to easily help because it turned out that the “animal” was actually a croissant.

Hope everyone has an enjoyable weekend!
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