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PLANSPONSOR NEWSDASH LOGO August 6th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Strong Savings Persist Despite Financial Strains
Workers should be encouraged to improve their fiscal health by creating a financial plan and gaining a full understanding of their situation—especially if their outlook is challenging.
Data and Research
Gen Z Workers Get a Jumpstart on Savings
At the median, Generation Z workers started saving for retirement at age 19—significantly earlier than Millennials, who started saving on average at 25.
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
Interest on a 30-year fixed-rate mortgage (FRM) averaged 2.77% for the week ending August 5, down from last week when it averaged 2.80%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.88%. Interest on a 15-year FRM averaged 2.10%, unchanged from last week. A year ago at this time, the 15-year FRM averaged 2.44%.

In the week ending July 31, the advance figure for seasonally adjusted initial claims for unemployment insurance was 385,000, a decrease of 14,000 from the previous week’s revised level of 399,000, the Labor Department reported. The four-week moving average was 394,000, a decrease of 250 from the previous week’s revised average of 394,250.
Market Mirror
Thursday, the Dow gained 271.58 points (0.78%) to finish at 35,064.25, the Nasdaq closed 114.58 points (0.78%) higher at 14,895.12, and the S&P 500 was up 26.44 points (0.60%) at 4,429.10. The Russell 2000 increased 39.69 points (1.81%) to 2,236.01, and the Wilshire 5000 climbed 343.16 points (0.75%) to 46,105.67.

The price of the 10-year Treasury note decreased 25/32, bringing its yield up to 1.217%. The price of the 30-year Treasury bond fell 29/32, increasing its yield to 1.864%.
Products
OneDigital and Ascensus Partner on Small-Market DC Plan Solution
OneDigital Complete Retirement Solution is meant to bring institutional-quality services to plan participants working at small businesses.
Tool Helps Plan Sponsors Keep Track of Their Fiduciary Duties
The FORT tool helps plan sponsors understand what fiduciary responsibilities they retain when they delegate some duties to an adviser or service provider.
LT Trust Launches Mobile App for Participants
It includes all the features available through the new participant website, plus push notifications, such as alerting participants when a new contribution is posted to their account.
Small Talk
SURVEY SAYS: Whether from your experience with hiring employees or with getting hired by an employer, this week I’d like to know, what do you think makes a job resume stand out? If you haven’t already responded to the survey, please do so by 6 p.m. Pacific time today.
ON THIS DATE: In 1787, at the Constitutional Convention in Philadelphia, debate began on the first draft of the U.S. Constitution. 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 1945, a U.S. bomber dropped an atomic bomb on the Japanese city of Hiroshima. In 1948, American diver Vicki Draves won gold at the London Olympics, becoming the first Asian American to win an Olympic gold medal for the U.S. Two days later, fellow diver Sammy Lee, also an Asian American, took gold as well. In 1952, Satchel Paige, at age 46, became the oldest pitcher to complete a major league baseball game. In 1965, the Voting Rights Act, which outlawed discriminatory voting practices, was signed by President Lyndon B. Johnson. In 1986, Timothy Dalton became the fourth actor to be named “James Bond.” In 1990, the U.N. Security Council ordered a worldwide trade embargo with Iraq to punish the country for invading Kuwait.

And now it’s time for some FRIDAY FUN!
What does E-Y-E-S spell?

A sign to discourage solicitors at your door.

In Nags Head, North Carolina, a picture of a sheepshead fish caught off Jennette’s Pier and posted on the pier’s Facebook page is drawing surprise and humor from people on social media because of its human-like teeth. [pic]

In Clearwater, Florida, a couple have been arrested for a pasta assault. According to The Smoking Gun, police say the couple was eating dinner when a verbal argument turned violent. During the physical confrontation, police allege, each shoved a plate of spaghetti in the other’s face. When a Clearwater police officer arrived at the residence, the duo was “still covered in spaghetti upon officer’s arrival.” The two were arrested for domestic battery.

Wishing everyone a safe and happy weekend!
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