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PLANSPONSOR NEWSDASH LOGO August 21st, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Rethinking HSAs
Rethinking HSAs
With the high cost of health care, employees are using HSAs as spending, not savings, vehicles, and if more people had access to them, it might help with America’s health care crisis.
Opinions
Best Practices From Behavioral Economics: Communicating in Times of Crisis
Behavioral biases in financial decisionmaking should be considered when conveying important plan-related messages to employees.
Most Read

2020 PLANSPONSOR National Conference
Benefits
Are Employer-Sponsored DC Plans the Best Retirement Savings Vehicles?

2020 Plan Sponsor of the Year
Data and Research
GAO Explores Reasons for Women’s Retirement Insecurity
The report was requested by U.S. Senators to inform public policy to improve women's retirement security.
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.99% for the week ending August 20, up from last week when it averaged 2.96, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.55%. Interest on a 15-year fixed-rate mortgage averaged 2.54%, up from last week when it averaged 2.46%. A year ago at this time, the 15-year FRM averaged 3.03%.

In the week ending August 15, the advance figure for seasonally adjusted initial claims for unemployment insurance was 1,106,000, an increase of 135,000 from the previous week’s revised level of 971,000, the Labor Department reported. The four-week moving average was 1,175,750, a decrease of 79,000 from the previous week’s revised average of 1,254,750.
Market Mirror
Thursday, the Dow was up 46.85 points (0.17%) at 27,739.73, the NASDAQ gained 118.49 points (1.06%) to finish at 11,264.95, and the S&P 500 increased 10.66 points (0.32%) to 3,385.51. The Russell 2000 decreased 7.76 points (0.49%) to 1,564.30, and the Wilshire 5000 closed 114.85 points (0.33%) higher at 34,658.73.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 0.652%. The price of the 30-year Treasury bond increased 30/32, bringing its yield down to 1.391%.
Compliance
IRS Issues NPRM for Qualified Plan Loan Offset Amounts
The Tax Cuts and Jobs Act provided for an extension of the period a retirement plan participant has to roll over plan loan offset amounts in certain cases.
DOL Issues NPRM on PEP Provider Registration
Providers of pooled employer plans (PEPs) must first register with the DOL before plans can begin operating.
Administration
Lessons From Well-Funded Public Retirement Plans for Managing Crises
Representatives of three well-funded pension plans shared information about their contribution rate, assumed return rate and COLA strategies.
Products
Rebalance Builds 401(k) Product Aimed at Small Businesses
The tool offers investment strategies geared toward each plan participant. 
Alger Announces Move Into ETF Space
Both ETF products will be available in 2021.
ShareBuilder 401k Offers Discounts Ahead of Safe Harbor Deadline
The provider is offering discounts to businesses with employees that set up a safe harbor 401(k) before October 1.
Security Benefit Introduces Mobile App for Retirement Plan Participants
The firm says it is trying to bring the services and technological conveniences typically offered to large plans to the smaller 401(k) and 403(b) market.
Participants
401(k) Investors Light on Trades in July
The movement from equities to fixed income continues, according to the Alight Solutions 401(k) Index.
Small Talk
ON THIS DATE: In 1831, believing himself chosen by God to lead his people out of slavery, Nat Turner launched a bloody insurrection in Southampton County, Virginia. In 1841, a patent for venetian blinds was issued to John Hampton. In 1878, the American Bar Association was formed by a group of lawyers, judges and law professors in Saratoga, New York. In 1888, the adding machine was patented by William Burroughs. In 1959, Hawaii became the 50th U.S. state. In 1980, People for the Ethical Treatment of Animals (PETA) was founded. In 1984, Victoria Roche, a reserve outfielder, became the first girl to ever compete in a Little League World Series game. In 1984, Clint Eastwood was given a star on the Hollywood Walk of Fame. In 1996, the Health Insurance Portability and Accountability Act (HIPAA) of 1996 was signed by President Bill Clinton. In 1997, Cicely Tyson received a star on the Hollywood Walk of Fame. In 1998, Wesley Snipes received a star on the Hollywood Walk of Fame.
SURVEY SAYS: Most retirement plan sponsors and providers would agree that participants generally do not read disclosures sent to them. With the new Department of Labor (DOL) rule allowing electronic delivery of plan disclosures, do you think more participants will pay attention to them? Also, plan sponsors and providers have reported that the number of participants who have dipped into their retirement savings accounts for financial help is not as large as expected. But, with Congress stalled on legislation that would provide greater unemployment benefits and another stimulus check, do you think that will change? You may respond to this week’s survey by 6 p.m. Pacific Time today.
And now it’s time for FRIDAY FUN!

Inspiration for your workout.

This poor dog can’t figure out where the treats are going.

I didn’t know so many cats were there until she fell.

In Olten, Switzerland, residents saw snow of a different kind this week. The Lindt & Spruengli company confirmed local reports Tuesday that there was a minor defect in the cooling ventilation for a line for roasted “cocoa nibs” in its factory, according to the Associate Press. This resulted in a snow of particles of a fine cocoa powder in the town.

In Charlotte, North Carolina, a police report shows a mother had her son arrested for stealing her Pop Tarts. Officers arrested him on a larceny charge. A police report notes that “the known suspect stole Pop-tarts belonging to his mother at their home.” It said what was stolen was “Foodstuffs” valued at $5. That’s one way to teach a lesson.

Have a safe and healthy weekend, everyone!
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