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PLANSPONSOR NEWSDASH LOGO August 16th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Parents in Great Need of Education and Help for Student Loans
Parents in Great Need of Education and Help for Student Loans
Employees are underestimating the amount of student loan debt they will have to carry and worry about its effect on achieving future financial goals.
Deals and People
Retirement Industry People Moves
Jennison Associates announces senior hires; U.S. institutional services head joins Franklin Templeton; Amundi US appoints fixed income head; and more.
Most Read
Participants
What Participants Want From Employers’ Retirement Plan Websites
Research
2021 Recordkeeping Survey
Inside Angle
DOL’s Next Moves
SPONSORED BY: Vanguard
All In: Understanding the Total Cost of Your Retirement Plan
As fiduciaries, plan sponsors must be aware of the fees their participants are paying—and the impacts those fees have on participant outcomes.
Economic Events
Tomorrow, the Census Bureau will report about retail sales for July and business trade for June. Wednesday, the Census Bureau will report about housing starts for July. Thursday, the Labor Department will issue its initial claims report, and Freddie Mac will update average mortgage interest rates for the week.
Market Mirror
Friday, the Dow closed 15.53 points (0.04%) higher at 35,515.38, the Nasdaq was up 6.64 points (0.04%) at 14,822.90, and the S&P 500 increased 7.17 points (0.16%) to 4,468.00. The Russell 2000 lost 20.96 points (093%) to finish at 2,223.11, and the Wilshire 5000 closed 12.35 points (0.03%) higher at 46,378.57.

The price of the 10-year Treasury note increased 29/32, bringing its yield down to 1.289%. The price of the 30-year Treasury bond climbed 1 26/32, decreasing its yield to 1.931%.

For the week ending August 13, the Dow gained 0.87%, the Nasdaq was down 0.09%, and the S&P 500 finished 0.71% higher. The Russell 2000 fell 1.10%, and the Wilshire 5000 increased 0.51%.
Compliance
Groups File Recommendations to PBGC on Multiemployer Plan Assistance
The most common concern is that permissible investments for the funds will not earn the rate used for calculation of assistance payments.
Amway ERISA Lawsuit Gets Green Light
The defense’s dismissal motion has been met with skepticism by the presiding district court.
Products
HSA Bank Offers Retiree Reimbursement Arrangements
RRAs are a way for employers to provide employees with tax-free money to help them pay for Medicare premiums and other qualified medical expenses incurred during retirement.
Small Talk
ON THIS DATE: In 1896, while salmon fishing near the Klondike River in Canada’s Yukon Territory, George Carmack reportedly spotted nuggets of gold in a creek bed. His discovery sparked the last great gold rush in the American West. In 1923, Carnegie Steel Corporation put into place the eight-hour workday for its employees. In 1948, baseball legend George Herman “Babe” Ruth died from cancer in New York City, at the age of 53. In 1954, “Sports Illustrated” magazine debuted. In 1977, music icon Elvis Presley died in Memphis, Tennessee, at the age of 42. In 1984, the U.S. Jaycees voted to admit women to full membership in the organization.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Did you receive at least one stimulus payment, and how did you use the money?” More than six in 10 respondents (61%) said they received at least one stimulus payment. Among those who received at least one stimulus payment, 47% reported they saved some or all of it, 17% used it to cover bills or essential items for themselves or family member, and 17% splurged on non-essential items. Respondents who chose to leave comments mentioned specific items they used the funds for and expressed concern about whether the payments were used as intended and about government spending. A big thank you to all who participated in the survey!
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