|
December 14th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
UpFront
|
|
Student Loan Debt by the Numbers
|
A TIAA-MIT AgeLab study finds student loan debt significantly affects retirement savings longevity planning and family relationships. One-quarter of those not saving for retirement cite student loans as to why. Parents and grandparents who borrow for loved ones are the hardest hit, according to the study. U.S. student loan borrowers owed a collective $1.67 trillion... 
|
|
|
|
|
SPONSORED BY: PIMCO
|
|
The Time Has Come to Build the Retirement Tier
|
It’s time for defined contribution plans to create a retirement tier. Participants want control, flexibility and spending that matches income. Liquid, income-oriented strategies may best meet these preferences. 
|
|
|
| Economic Events |
The Producer Price Index for final demand advanced 0.1% in November, as prices for final demand goods increased 0.4%, and the index for final demand services was unchanged, the Bureau of Labor Statistics reported. The final demand index increased 0.8% for the 12 months ended in November.
Wednesday, the Census Bureau will report about retail sales for November and business trade for October. Thursday, the Labor Department will release its initial claims report, and the Census Bureau will report about housing starts in November.
|
|
|
|
| Market Mirror |
Friday, the Dow was up 47.11 points (0.16%) at 30,046.37, the NASDAQ closed 27.94 points (0.23%) lower at 12,377.87, and the S&P 500 was down 4.64 points (0.13%) at 3,663.46. The Russell 2000 lost 11.01 points (0.57%) to finish at 1,911.70, and the Wilshire 5000 decreased 71.33 points (0.19%) to 38,481.01.
The price of the 10-year Treasury note was up 2/32, decreasing its yield to 0.887%. The price of the 30-year Treasury bond was unchanged, bringing its yield down to 1.627%.
For the week ending December 11, the Dow was down 0.57%, the NASDAQ finished 0.69% lower, and the S&P 500 lost 0.96%. The Russell 2000 climbed 1.02%, and the Wilshire 5000 decreased 0.57%.
|
|
|
|
Compliance
|
|
DOL Announces Final Proxy Voting Rule
|
|
The DOL says it settled upon the final rule after reviewing approximately 300 written comments and 6,700 form letters from a diverse set of stakeholders.
|
|
|
|
|
Deals and People
|
|
Retirement Industry People Moves
|
|
NTSA hires executive director; retirement services SVP joins PlanMember; and McGinnis Lochridge brings in Dallas partner.
|
|
|
|
|
|
ON THIS DATE: In 1799, George Washington, the American revolutionary leader and first president of the United States, died at his estate in Mount Vernon, Virginia, at the age of 67. In 1819, Alabama joined the Union as the 22nd state. In 1900, Professor Max Planck of Berlin University revealed his revolutionary Quantum Theory. In 1909, workers placed the last of the 3.2 million 10-pound bricks that pave the Indianapolis Motor Speedway. In 1911, Norwegian Roald Amundsen became the first explorer to reach the South Pole. In 1962, the U.S. space probe Mariner II approached Venus. It transmitted information about the planet’s atmosphere and surface temperature. In 1984, Howard Cosell retired from the NFL’s Monday Night Football. In 1985, Wilma Mankiller became the first woman to lead a major American Indian tribe as she formally took office as principal chief of the Cherokee Nation of OKlahoma. In 1988, the first transatlantic underwater fiber-optic cable went into service. In 1999, U.S. and German negotiators agreed to establish a $5.2 billion fund for Nazi-era slave and forced laborers. In 1999, Charles M. Schulz announced he was retiring the “Peanuts” comic strip.
|
|
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
|
|
