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PLANSPONSOR NEWSDASH LOGO April 9th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Investing
What to Know Before Adding an SDBA to Your Plan
What to Know Before Adding an SDBA to Your Plan
Self-directed brokerage accounts offer a multitude of options to the hands-on investor, but there are pros and cons of allowing retirement plan participants to use them.
Data and Research
Vanguard Report Underscores the Power of Automatic Enrollment
Over time, 90% of participants who are automatically enrolled in their retirement plan increase their deferral rates, either through automatic escalation or on their own.
Most Read

2021 Health Savings Account Survey

2020 Recordkeeping Survey
Compliance
403(b) Plan Sponsor Sued Over Excessive Fees and Underperforming Investments
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 3.13% for the week ending April 8, down from last week when it averaged 3.18%. A year ago at this time, the 30-year FRM averaged 3.33%, according to Freddie Mac. Interest on a 15-year fixed-rate mortgage averaged 2.42%, down from last week when it averaged 2.45%. A year ago at this time, the 15-year FRM averaged 2.77%.

In the week ending April 3, the advance figure for seasonally adjusted initial claims for unemployment insurance was 744,000, an increase of 16,000 from the previous week’s revised level of 728,000, the Labor Department reported. The four-week moving average was 723,750, an increase of 2,500 from the previous week’s revised average of 721,250.
Market Mirror
Thursday, the Dow was up 57.31 points (0.17%) at 33,503.57, the Nasdaq climbed 140.47 points (1.03%) to 13,829.31, and the S&P 500 increased 17.22 points (0.42%) to 4,097.17. The Russell 2000 gained 19.54 points (0.88%) to finish at 2,242.60, and the Wilshire 5000 closed 240.85 points (0.56%) higher at 43,019.71.

The price of the 10-year Treasury note was up 4/32, decreasing its yield to 1.635%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 2.315%.
Compliance
IRS Reveals Retirement Plan Compliance Initiatives
The agency plans to examine worker classifications, RMDs in large DB plans and participant loans, as well as do a compliance check about partial plan termination and partial vesting, among other things.
Products
Investment Product and Service Launches
Vanguard lowers fees for Target Retirement Trusts; State Street Global Advisors announces new bond ETF; Bernstein Research launches Alphalytics; and more.
Small Talk
ON THIS DATE: In 1833, Peterborough, New Hampshire, opened the first municipally supported public library in the United States. In 1865, at Appomattox Court House in Virginia, Robert E. Lee surrendered his 28,000 Confederate troops to Union General Ulysses S. Grant, effectively ending the American Civil War. In 1881, after a one-day trial, Billy the Kid was found guilty of murdering the Lincoln County, New Mexico, sheriff and was sentenced to hang. In 1913, the Brooklyn Dodgers’ Ebbets Field opened. In 1950, Bob Hope made his first television appearance on “Star-Spangled Review” on NBC-TV. In 1959, the National Aeronautics and Space Administration (NASA) introduced America’s first astronauts to the press: Scott Carpenter, L. Gordon Cooper Jr., John H. Glenn Jr., Virgil “Gus” Grissom, Walter Schirra Jr., Alan Shepard Jr. and Donald Slayton. In 1962, Puerto Rican actress Rita Moreno became the first Hispanic woman to win an Oscar, for her role of Anita in “West Side Story.” In 1963, Winston Churchill became the first honorary U.S. citizen.

And now it’s time for some FRIDAY FUN!
A giant spider in West Palm Beach, Florida.

The mailman didn’t just almost lose the mail.

In Anchorage, Alaska, several Costco shoppers have reported that ravens have stolen their groceries while they were in the parking lot. On reported a raven grabbing a short rib and flying away with it, and another had a steak stolen out of a pack. A third person said two ravens stood by her car and tried to steal fruit out of a bag. A former wildlife biologist with the state Department of Fish and Game said hundreds of ravens fly to Anchorage in the winter for food and that stories of the birds stealing groceries in parking lots have been told for years, according to the Associated Press. “They know what they’re doing; it’s not their first time,” one Costco shopper said. “They’re very fat so I think they’ve got a whole system there.”

Wishing everyone a safe and happy weekend!
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