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August 6th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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2020 Recordkeeping Survey
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The top 20 recordkeeping providers account for 92% of DC plan assets, 64% of DC plans, and 86% of DC plan participants. See more details about the DC plan marketplace, as well as individual recordkeeping provider data, in the 2020 PLANSPONSOR Recordkeeping Survey. (You must be registered on the PLANSPONSOR website to view.) 
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| Market Mirror |
Wednesday, the Dow was up by 373.05 points (1.39%) to reach 27,201.52, the NASDAQ climbed 57.23 points (0.52%) to finish at 10,998.40, and the S&P 500 gained 21.26 points (0.64%) for a 3,327.77 close. The Russell 2000 was up by 39.43 points (2.62%) to reach 1,546.24, and the Wilshire 5000 gained 253.24 points (0.75%) to reach 34,076.88.
The price of the 10-year Treasury note was down 25/32, increasing its yield to 0.544%, and the price of the 30-year Treasury bond was down 30/32, increasing its yield to 1.220%.
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Compliance
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DOL’s Proposed ESG Restrictions Panned in Public Comments
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The clear trend among investment managers, retirement industry professionals and members of the public is skepticism about the need for the proposed environmental, social and governance (ESG) investing restrictions for retirement plans.
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ON THIS DATE: In 1914, Austria-Hungary declared war against Russia. Serbia declared war against Germany. In 1926, Gertrude Ederle became the first American woman to swim the English Channel. She was 19 years old at the time. The swim took her 14-1/2 hours. In 1926, Warner Brothers premiered its Vitaphone system in New York. The movie was “Don Juan,” starring John Barrymore. In 1945, the American B-29 bomber, known as the Enola Gay, dropped the first atomic bomb on an inhabited area. The bomb named “Little Boy” was dropped over the center of Hiroshima, Japan. An estimated 140,000 people were killed. In 1952, Satchel Paige, at age 46, became the oldest pitcher to complete a major league baseball game. In 1960, nationalization of U.S. and foreign-owned property in Cuba began. In 1965, the Voting Rights Act, ensuring state and local governments do not pass laws or policies that deny American citizens the equal right to vote based on race, was signed by President Lyndon B. Johnson. In 1993, the Senate confirmed Louis Freeh to be the director of the FBI. In 1996, NASA announced the discovery of evidence of primitive life on Mars. The evidence came in the form of a meteorite that was found in Antarctica. The meteorite was believed to have come from Mars and contained a fossil.
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