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2021 PLANSPONSOR 403(b) Market Survey
2021 PLANSPONSOR 403(b) Market Survey
403(b) plans are in many ways the same as traditional corporate 401(k) plans, but they also have many unique challenges. The PLANSPONSOR 403(b) Market Survey covers the providers who service this market, what they focus on in terms of market segment, and the services they provide to 403(b) plan sponsors.
Data and Research
GAO Makes Recommendations to Help Participants Better Understand Fee Disclosures
The agency found 45% of participants are not able to use the information they are given and 41% erroneously believe they don’t pay any fees.
Most Read
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
2021 Recordkeeping Survey
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
Participants Will Need Support to Understand Lifetime Income Projections
DB Plans Retain Cost Advantage Over DC Plans
Economic Events
Tomorrow, the Conference Board will release its Consumer Confidence Index for August. Wednesday, the Census Bureau will report about construction spending for July. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average mortgage rates for the week, and the Census Bureau will report about factory orders for July. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for August.
Market Mirror
Friday, the Dow was up 242.68 points (0.69%) at 35,455.80, the Nasdaq gained 183.69 points (1.23%) to finish at 15,129.50, and the S&P 500 increased 39.37 points (0.88%) to 4,509.37. The Russell 2000 climbed 63.17 points (2.85%) to 2,277.15, and the Wilshire 5000 closed 497.14 points (1.07%) higher at 46,877.86.

The price of the 10-year Treasury note was up 5/32, decreasing its yield to 1.307%. The price of the 30-year Treasury bond increased 31/32, bringing its yield down to 1.908%.

For the week ending August 27, the Dow was up 0.96%, the Nasdaq gained 2.82%, and the S&P 500 increased 1.52%. The Russell 2000 climbed 5.05%, and the Wilshire 5000 finished 2.11% higher.
Chamber of Commerce Says Cookie-Cutter Excessive Fee Suits Harm Participants
After pointing out the flaws in excessive fee allegations and what it says is the real motivation for the lawsuits, the agency asked the court in a case against the Red Cross to use careful scrutiny.
Deals and People
Retirement Industry People Moves
Rebalance hires retirement services director; Cuna Mutual Group selects new leadership; and TRA adds regional sales consultant.
Small Talk
ON THIS DATE: In 1862, the Confederates defeated Union forces at the second Battle of Bull Run in Manassas, Virginia. In 1905, Ty Cobb made his major league batting debut with the Detroit Tigers. In 1945, General Douglas MacArthur set up Allied occupation headquarters in Japan. In 1963, John F. Kennedy became the first U.S. president to have a direct phone line to the Kremlin in Moscow. The “hotline” was designed to facilitate communication between the president and Soviet premier. In 1967, Thurgood Marshall became the first African American to be confirmed as a Supreme Court justice. In 1983, U.S. Air Force Lieutenant Colonel Guion S. Bluford became the first African American to travel into space when the space shuttle Challenger lifted off on its third mission. In 1984, President Ronald Reagan, and several others, were inducted into the Sportscasters Hall of Fame. In 1994, the largest U.S. defense contractor was created when the Lockheed and Martin Marietta corporations agreed to a merger.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Does your company have a vaccine mandate?” I also asked if they are required to wear a mask in the office. The vast majority of responding readers (85%) said their company does not have a COVID-19 vaccine mandate, 12% said their company does, and 3% reported that their company has a vaccine mandate, with regular testing required for the unvaccinated. Responding readers were more likely to be required to wear a mask in the office. Nearly one-quarter (24%) indicated that masks are required in all areas of the office, and 29% said masks are required in some areas. The comments left by readers who chose to do so reflect that office rules about vaccines and masks are all over the place. Many indicated different rules about masks and returning to the office for the vaccinated than for the unvaccinated. Opinions about vaccine mandates vary as well; some like the idea in general, while others don’t, and some feel mandates should only apply in certain industries. Editor’s Choice goes to the reader who said, “Since we can all work from home, if anyone is apprehensive about going into the office, they should be able to continue to work from home.” A big thank you to all who participated in our survey.
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