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PLANSPONSOR NEWSDASH LOGO August 14th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Are Employer-Sponsored DC Plans the Best Retirement Savings Vehicles?
Are Employer-Sponsored DC Plans the Best Retirement Savings Vehicles?
The coronavirus pandemic and other factors have called into question the value of DC plans, but experts say they’re still good savings vehicles.
Benefits
It’s Back to Basics for Benefits Priorities
Prior to the pandemic, ultra-low unemployment put a spotlight on ‘lifestyle benefits’ for employees. The COVID-19 downturn has already shifted the focus of many plan sponsors.
Most Read
Compliance
MGM Resorts Hit With 401(k) Plan Excessive Fee Suit
Deals and People
Empower to Acquire Retirement Plan Clients from Fifth Third Bank

2020 Recordkeeping Survey
Products
Bloomberg Announces Latest ESG Offering
The offering is broken into two sectors: Environmental and Social, and Board Composition.
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.96% for the week ending August 13, up from last week when it averaged 2.88%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.60%. Interest on a 15-year fixed-rate mortgage averaged 2.46%, up from last week when it averaged 2.44%. A year ago at this time, the 15-year FRM averaged 3.07%.

In the week ending August 8, the advance figure for seasonally adjusted initial claims for unemployment insurance was 963,000, a decrease of 228,000 from the previous week’s revised level of 1,191,000, the Labor Department reported. The four-week moving average was 1,252,750, a decrease of 86,250 from the previous week’s revised average of 1,339,000.
Market Mirror
Thursday, the Dow lost 80.12 points (0.29%) to finish at 27,896.72, the NASDAQ increased 30.27 points (0.27%) to 11,042.50, and the S&P 500 was down 6.92 points (0.20%) at 3,373.43. The Russell 2000 decreased 3.46 points (0.22%) to 1,579.79, and the Wilshire 5000 was down 33.27 points (0.10%) at 34,492.59.

The price of the 10-year Treasury note decreased 12/32, bringing its yield up to 0.718%. The price of the 30-year Treasury bond fell 1 2/32, increasing its yield to 1.426%.
Compliance
The SEC’s Retail Mutual Fund Disclosure Framework Is Changing
A new Securities and Exchange Commission proposal takes a sensible, layered approach to disclosure that takes advantage of today’s ubiquitous digital communications technologies, one attorney says.
Gannett Co. ERISA Lawsuit Revived by 4th Circuit
Helping to explain the break with the post-Dudenhoeffer tradition of courts rejecting similar stock-drop suits, the majority opinion in this matter seems to draw a distinction based on the fact that Gannett Co. and Tegna Inc. are two different companies.
Opinions
How Times of Turbulence Can Show What Your Plan Is Really Made Of
Ben Lewis, with TIAA, discusses why it may be a good time for plan sponsors to review their plans and how to do so.
Small Talk
ON THIS DATE: In 1848, the Oregon Territory was established. In 1935, President Franklin D. Roosevelt signed into law the Social Security Act. In 1945, it was announced by President Harry Truman that Japan had surrendered unconditionally, ending World War II. In 1953, the whiffle ball was invented. In 1959, the first meeting was held to organize the American Football League. In 1980, People for Ethical Treatment of Animals (PETA) was incorporated. In 2003, a major outage knocked out power across the eastern United States and parts of Canada.

And now it’s time for FRIDAY FUN!
After all her hard work…

It’s scary to wake up with yourself. (Warning: The music in this is loud.)

In Centerville, Tennessee, a woman who recently renewed her license online couldn’t complain about how her photo looked when she received it—the photo was of an empty chair. The chair ended up being the focal point of the license because it was the last photo taken and saved to Dodd’s file, the Tennessee Department of Safety and Homeland Security told WKRN-TV. The photo was taken accidentally, the department said.

In Paterson, New Jersey, residents in one neighborhood spotted an unusual visitor running through the streets—an emu. According to the Associated Press, animal control officers were able to catch it and took it to an animal shelter. Officials were not sure whether the bird had escaped from a farm or was just running out in the wild. (Or maybe it just needed a break from Doug.)

Wishing everyone a safe and happy weekend!
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