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Plan Progress: Benchmarking Your Recordkeeper
Plan Progress: Benchmarking Your Recordkeeper
Join PLANSPONSOR August 19 for a webinar in which industry sources will discuss what plan and participant needs to take into consideration when benchmarking recordkeepers; the differences between a request for information (RFI) and a request for proposals (RFP) and when plan sponsors need to issue one; and where to find information to help plan sponsors benchmark their recordkeeper.
Ask the Experts
Can ERISA Accounts Be Used to Pay for Fiduciary Liability Insurance?
“We currently sponsor an Employee Retirement Income Security Act (ERISA) 403(b) plan with an ERISA expense reimbursement account that we use to pay permissible plan expenses. Can we pay for our fiduciary liability insurance coverage from that account?”
Most Read
2021 Recordkeeping Survey
Defined Benefit vs. Defined Contribution: Understanding the Costs of Each
Considering the Arguments for and Against Actively Managed Funds in DC Plans
Get Rid of All the Jargon
Learn how to speak to DC retirement plan participants on their own terms, and how better communications could boost participation.
Economic Events
New orders for manufactured durable goods in June increased $2.1 billion or 0.8% to $257.6 billion, the U.S. Census Bureau announced. This increase, up thirteen of the last fourteen months, followed a 3.2% May increase. Excluding transportation, new orders increased 0.3%. Excluding defense, new orders increased 1.0%. Transportation equipment, up two consecutive months, led the increase, $1.6 billion or 2.1% to $77.5 billion.
Market Mirror
Tuesday, the Dow gained 278.24 points (0.80%) to finish at 35,116.40, the Nasdaq closed 80.23 points (0.55%) higher at 14,761.30, and the S&P 500 increased 35.99 points (0.82%) to 4,423.15. The Russell 2000 was up 8.09 points (0.36%) at 2,223.58, and the Wilshire 5000 climbed 309.62 points (0.68%) to 45,957.97.

The price of the 10-year Treasury note was unchanged, with its yield at 1.178%. The price of the 30-year Treasury bond increased 23/32, bringing its yield down to 1.847%.
Data and Research
CITs Overcoming Mutual Funds in 401(k)s
Collective investment trusts are the most used investment vehicle in the largest plans and are a close second among large 401(k) plans overall, suggesting they are worth consideration.
Keys to Facilitating Retirement Success
Guaranteed sources of income, low debt, a clear spend-down strategy and advisory services are four drivers of financial security in retirement, according to EBRI’s Retirement Security Research Center.
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 1944, acting on tip from a Dutch informer, the Nazi Gestapo captured 15-year-old Jewish diarist Anne Frank and her family in a sealed-off area of an Amsterdam warehouse. In 1957, Florence Chadwick set a world record by swimming the English Channel in 6 hours and 7 minutes. In 1977, President Jimmy Carter signed the measure that established the Department of Energy. In 1987, the Fairness Doctrine was rescinded by the Federal Communications Commission (FCC). The doctrine had required that radio and TV stations present controversial issues in a balanced fashion.
WEDNESDAY WISDOM: “Think of all the beauty still left around you and be happy.”—Anne Frank
Industry Intel Roundup—Featured Webcasts
PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
PLANSPONSOR 2021 Plan Progress Series: Considerations for Pension Risk Transfer
Sponsored by Securian Financial Pension risk transfer (PRT) activity has been increasing year over year, although it slowed somewhat during the COVID-19 pandemic. PRT can be an effective tool for plan sponsors to reduce risk and eliminate some liabilities, but it should be done in a cost-effective way.
SPONSORED BY: Charles Schwab
Post-COVID Insights From 401(K) Participants
In the wake of the pandemic, what are 401(k) participants’ specific wants and needs? How are they changing their approach to spending and saving? What are their top five must-have benefits? Tune in to a webinar hosted by Schwab Retirement Plan Services, Inc. for firsthand knowledge gleaned from an exclusive 401(k) Participant Survey. Register now – it’s an insightful 45 minutes you don’t want to miss
SPONSORED BY: Morningstar
Designing the Modern Retirement Plan During the COVID-19 Pandemic
The past 18 months have altered the workplace in ways we could never have anticipated. With the ongoing effects of the COVID-19 pandemic, increasingly tight labor market, and remote working environment, plan sponsors have been posed with the challenge of closely evaluating their retirement plan in order to help attract and retain talent. As we continue to navigate the pandemic and adapt to the long-term impacts of remote work, employees who no longer work from the office are seeking greater holistic, personalized financial advice from their employers.1 In this webinar, we’re going to discuss how the needs of employees are evolving and the implications this may have on the way you design and structure your retirement plan. Key discussion points include: Challenges plan sponsors have faced with engaging a remote workforce The growing trend of offering holistic financial solutions and personalized advice Designing retirement plans to be more effective decumulation vehicles
PLANSPONSOR 2021 Plan Progress Series: Benchmarking Your Recordkeeper
Selecting the best recordkeeper for retirement plan participants and monitoring that recordkeeper are part of a plan sponsor’s fiduciary duties. Consolidation in the industry has continued at a steady pace and recordkeepers compete with technology and other services, so it is getting more difficult for plan sponsors to discern the best choice for their plan from others.
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