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PLANSPONSOR NEWSDASH LOGO August 4th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Employee Engagement Strategy Greatly Increases Benefit Usage, Including HSAs
Fidelity Investments reports the more an employer communicates with workers on benefits, the likelier they are to use them.
Data and Research
Signs of Small Employer Recovery Seen in Survey Data
The effects of the coronavirus pandemic are still clearly being felt by small employers across the U.S., but many of those who earlier suspended retirement plan matches have reconsidered the decision.
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2020 PLANSPONSOR National Conference
Benefits
Are Employer-Sponsored DC Plans the Best Retirement Savings Vehicles?
Investing
The Future for ESG Investing in Retirement Plans
SPONSORED BY: PLANSPONSOR
Don’t let the urgent crowd out the important
Benefits
EBRI Says CARES Act Distributions Could Have Lasting Consequences
The report highlights how a loan or distribution option under the CARES Act can affect employees.
Economic Events
Construction spending during June was estimated at a seasonally adjusted annual rate of $1,355.2 billion, 0.7% below the revised May estimate of $1,364.7 billion, the Census Bureau reported. The June figure is 0.1% above the June 2019 estimate of $1,354.1 billion. During the first six months of this year, construction spending amounted to $667.9 billion, 5.0% above the $636.0 billion for the same period in 2019.
Market Mirror
Monday, the Dow was up by 236.08 points (0.89%) to reach 26,664.40, the NASDAQ climbed 157.52 points (1.47%), and the S&P 500 took on 23.49 additional points 0.72%) for a 3,294.61 close. The Russell 2000 was up by 26.38 points (1.78%) to reach 1,506.80, and the Wilshire 5000 gained 297.12 points (0.89%) to reach 33,690.51.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 0.554%, and the price of the 30-year Treasury bond was down 30/32, increasing its yield to 1.230%.
Compliance
No ‘Earth-Shattering’ Retirement Proposals in Biden Platform
Building on Social Security and Medicare are key components of the presumptive Democratic presidential nominee’s promised agenda—though if Congress swings left in November, more progressive policies could emerge.
Investing
Volatility Brings Focus on Sustainable Retirement Income
Participants are looking to their employers to offer a retirement income solution, while interest in ESG investing among retirement plan participants continues to increase.
Small Talk
ON THIS DATE: In 1790, the Revenue Cutter Service was formed. This U.S. naval task force was the beginning of the U.S. Coast Guard. In 1821, “The Saturday Evening Post” was published for the first time as a weekly. In 1944, Nazi police raided a house in Amsterdam and arrested eight people. Anne Frank, a teenager at the time, was one of the people arrested. Her diary would be published after her death. In 1957, Florence Chadwick set a world record by swimming the English Channel in 6 hours and 7 minutes. In 1958, Billboard Magazine introduced its “Hot 100” chart, which was part popularity and a barometer of the movement of potential hits. The first number one song was Ricky Nelson’s “Poor Little Fool.” In 1977, U.S. President Jimmy Carter signed the measure that established the Department of Energy. In 1987, the Fairness Doctrine was rescinded by the Federal Communications Commission. The doctrine had required that radio and TV stations present controversial issues in a balanced fashion. In 1997, teamsters began a 15-day strike against UPS (United Parcel Service). The strikers eventually won an increase in full-time positions and defeated a proposed reorganization of the company’s pension plan. In 2007, NASA’s Phoenix spacecraft was launched on a space exploration mission of Mars.
TUESDAY TRIVIA: The word unfriend was first used as a verb in print in 1659. The Oxford English Dictionary cites its usage in a letter from Thomas Fuller in 1659: ‘I Hope, Sir, that we are not mutually Un-friended by this Difference which hath happened betwixt us.’
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