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PLANSPONSOR NEWSDASH LOGO August 24th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Administration
What DC Plan Participants Should Know About Their Own ‘Funded Status’
What DC Plan Participants Should Know About Their Own ‘Funded Status’
Plan sponsors can help participants understand how interest rates and inflation affect lifetime income disclosures to help them avoid panicking and prepare for retirement.
Data and Research
Participants Prefer Socially Responsible Funds Over Traditional Investments
A Morningstar study found participants are more likely to invest in funds with high DEI or gender equality scores.
Most Read
Research
2021 Recordkeeping Survey
Benefits
Defined Benefit vs. Defined Contribution: Understanding the Costs of Each
Investing
Considering the Arguments for and Against Actively Managed Funds in DC Plans
Economic Events
Existing-home sales rose in July, marking two consecutive months of increases, according to the National Association of Realtors. Three of the four major U.S. regions recorded modest month-over-month gains, and the fourth remained level. Figures varied from a year-over-year perspective as two regions saw gains, one witnessed a decline and one was unchanged. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, grew 2.0% from June to a seasonally adjusted annual rate of 5.99 million in July. Sales inched up year-over-year, increasing 1.5% from a year ago (5.90 million in July 2020).
Market Mirror
Yesterday, the Dow gained 215.63 points (0.61%) to finish at 35,335.71, the Nasdaq climbed 227.99 points (1.55%) to 14,942.65, and the S&P 500 closed 37.86 points (0.85%) higher at 4,479.53. The Russell 2000 gained 40.70 points (1.88%) to finish at 2,208.30, and the Wilshire 5000 climbed 473.16 points (1.03%) to 46,381.82.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.255%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 1.875%.
Compliance
Court Tosses PNC Excessive Recordkeeping Fee Suit
The plaintiffs have already filed an amended complaint after a judge found that their allegations were insufficient to state a claim.
Small Talk
ON THIS DATE: In 79 A.D., Mount Vesuvius erupted in southern Italy, devastating the prosperous Roman cities of Pompeii and Herculaneum and killing thousands. In 1875, Captain Matthew Webb of Great Britain became the first man to successfully swim the English Channel without assistance. In 1932, Amelia Earhart became the first woman to fly across the U.S. non-stop. The trip from Los Angeles to Newark, New Jersey, took about 19 hours. In 1949, the North Atlantic Treaty Organization (NATO) went into effect. The agreement was that an attack against on one of the parties would be considered “an attack against them all.” In 1959, three days after Hawaiian statehood, Hiram L. Fong was sworn in as the first Chinese-American U.S. senator while Daniel K. Inouye was sworn in as the first Japanese-American U.S. representative. In 1989, the U.S. space probe, Voyager 2, sent back photographs of Neptune. In 2001, the remains of nine American servicemen killed in the Korean War were returned to the U.S. In 2006, the planet Pluto was reclassified as a “dwarf planet” by the International Astronomical Union (IAU). Pluto’s status was changed due to the IAU’s new rules for an object qualifying as a planet. Pluto met two of the three rules because it orbits the sun and is large enough to assume a nearly round shape. However, since Pluto has an oblong orbit and overlaps the orbit of Neptune it disqualified Pluto as a planet.
TUESDAY TRIVIA: What is the origin of the idiom “in spades?”
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