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Insight on Plan Design & Investment Strategy Every Weekday
Factors That Determine Whether the Time Is Right for PRT
Factors That Determine Whether the Time Is Right for PRT
Pension risk transfer activity is picking up, and plan sponsors have several considerations when implementing transactions.
Review of Oral Arguments in Northwestern University ERISA Case
Two attorneys say things so far look good for Northwestern University, meaning the court could raise pleading standards for plaintiffs in excessive fee lawsuits.
Most Read
2021 Recordkeeping Survey
Data and Research
Employees Cite Several Reasons for Not Participating in Financial Wellness Programs
Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions
Economic Events
October sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $620.5 billion, up 2.2% from the revised September level and up 22.2% from the revised October 2020 level, the Census Bureau announced. The August to September percent change was revised from the preliminary estimate of up 1.1% to up 1.7%.

In the week ending December 4, the advance figure for seasonally adjusted initial claims for unemployment insurance was 184,000, a decrease of 43,000 from the previous week’s revised level of 227,000, the Labor Department reported. This is the lowest level for initial claims since September 6, 1969, when it was 182,000. The four-week moving average was 218,750, a decrease of 21,250 from the previous week’s revised average of 240,000. This is the lowest level for this average since March 7, 2020, when it was 215,250.

Interest on a 30-year fixed-rate mortgage (FRM) averaged 3.10% for the week ending December 9, down slightly from last week when it averaged 3.11%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.71%. Interest on a 15-year FRM averaged 2.38%, down slightly from last week when it averaged 2.39%. A year ago at this time, the 15-year FRM averaged 2.26%.
Market Mirror
Thursday, the Dow was virtually unchanged at 35,754.69, the Nasdaq lost 269.62 points (1.71%) to finish at 15,517.37, and the S&P 500 decreased 33.76 points (0.72%) to 4,667.45. The Russell 2000 fell 51.50 points (2.27%) to 2,220.21, and the Wilshire 5000 closed 515.44 points (1.07%) lower at 47,636.12.

The price of the 10-year Treasury note was up 2/32, decreasing its yield to 1.501%. The price of the 30-year Treasury bond increased 27/32, bringing its yield down to 1.874%.
Industry Analysis
Movement in the NQDC Space
Broader nonqualified plan eligibility can be a deal-maker when a company is competing to hire new talent.
Investment Product and Service Launches
Nasdaq to offer Alpha Peer Universes; OneAmerica launches adviser managed account service; PGIM Investments launches new bond funds; and more.
Small Talk
ON THIS DATE: In 1690, the Massachusetts Bay Colony issued the first paper currency in the history of the Western Hemisphere. In 1817, Mississippi was admitted to the Union as the 20th state. In 1869, women were granted the right to vote in the Wyoming Territory. In 1898, in France, the Treaty of Paris was signed, formally ending the Spanish-American War and granting the United States its first overseas empire. In 1901, the first Nobel Prizes were awarded in Stockholm, Sweden, in the fields of physics, chemistry, medicine, literature and peace. In 1906, President Theodore Roosevelt became the first American to be awarded the Nobel Peace Prize, for helping mediate an end to the Russo-Japanese War. In 1931, Jane Addams became a co-recipient of the Nobel Peace Prize. She was the first American woman to do so. In 1948, the United Nations General Assembly adopted its Universal Declaration on Human Rights. In 1950, for his peace mediation during the first Arab-Israeli war, American diplomat Ralph Joseph Bunche received the Nobel Peace Prize in Oslo, Norway. He was the first African-American to receive the award. In 1958, the first domestic passenger jet flight took place in the U.S. when 111 passengers flew from New York to Miami on a National Airlines Boeing 707. In 1964, in Oslo, Norway, Dr. Martin Luther King Jr. received the Nobel Peace Prize. He was the youngest person to receive the award. In 1996, South Africa President Nelson Mandela signed into law a new democratic constitution, completing the country’s transition from white-minority rule to a non-racial democracy.

And now it’s time for some FRIDAY FUN!
A dizzying way to put lights on the Christmas tree.

Did the neighbors steal your decorations idea?

Anyone lose their luggage at the Dallas/Fort Worth International Airport?

A dream literally came true for a man in Edwardstown, South Australia. He said he has been using the same set of numbers to play the lottery for several years, after they came to him in a dream. According to UPI, those numbers recently won him a jackpot of nearly $3.4 million.

A Guinness World Record was recently broken at the Toronto Zoo. A conservation group collected 2,190 paper snowflakes made by children across Canada to make a chain in the zoo’s polar bear exhibit. According to UPI, Guinness World Records confirmed that Earth Rangers broke the world record with the chain of paper snowflakes that measured 1,324.34 feet.

In Syracuse, New York, the fire department responded to the Landmark Theatre after employees heard someone banging on the wall of a bathroom and yelling for help. Rescuers drilled a hole in the wall and used a fiber-optic camera to find the person’s exact location, Fox News reports. They found a naked man was trapped. After determining the best way to extract the man, officials said firefighters carefully cut through several layers of drywall and structural clay tile to reach him. It was not clear how the man got into the wall, but fire officials said it was believed he had entered the theatre two or three days prior.

Officials responding to a house fire in Longmont, Colorado, were told by a man there that he accidentally set the fire to his mom’s house when he used a blowtorch to try to clear cobwebs from a crawlspace under the house. Fox News reports that the man was arrested on suspicion of first-degree arson and criminal mischief causing $20,000 to $100,000 in damages, among other things.

Wishing everyone a safe and happy weekend!
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