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PLANSPONSOR NEWSDASH LOGO December 16th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
2022 ERISA Plan Compliance Calendar
2022 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan
Events
Plan Progress Webinar: Measuring the Success of Your DC Plan
Join PLANSPONSOR and industry sources TODAY for a discussion about metrics plan sponsors should use to gauge the success of their DC plans; ways to measure participant outcomes, or retirement readiness; and information available to help plan sponsors measure DC plan success.
Most Read
Research
2021 Recordkeeping Survey
Data and Research
Employees Cite Several Reasons for Not Participating in Financial Wellness Programs
Compliance
Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions
Economic Events
Advance estimates of U.S. retail and food services sales for November, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $639.8 billion, an increase of 0.3% from the previous month, and 18.2% above November 2020, the Census Bureau reported. Total sales for the September through November period were up 16.2% from the same period a year ago. Retail trade sales were up 0.2% from October, and up 16.1% from last year. Gasoline stations were up 52.3% from November 2020, while food services and drinking places were up 37.4% from last year.

The combined value of distributive trade sales and manufacturers’ shipments for October, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,709.1 billion, up 2.1% from September and up 16.7% from October 2020.
Market Mirror
Wednesday, the Dow gained 383.25 points (1.08%) to finish at 35,927.43, the Nasdaq closed 327.94 points (2.15%) higher at 15,565.58, and the S&P 500 increased 75.76 points (1.63%) to 4,709.85. The Russell 2000 was up 35.56 points (1.65%) at 2,195.21, and the Wilshire 5000 climbed 751.02 points (1.59%) to 47,866.83.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.450%. The price of the 30-year Treasury bond decreased 30/32, bringing its yield up to 1.861%.
Benefits
Addressing Employee Financial Wellness Needs in 2022
Their concerns have shifted, and some priorities have become more important during the pandemic, defining areas of focus for the coming year.
Compliance
Delta Air Line’s Interest Rate and Mortality Assumptions Challenged in Court
The plaintiffs in a new ERISA lawsuit suggest Delta Air Line’s pension plans’ annuity conversion factors were set decades ago, when mortality rates were significantly higher, and were never updated.
Lawmakers Introduce Legislation Regarding Retirement Account Withdrawals for Natural Disasters
The bipartisan bill automatically triggers tax relief if the president issues a federal disaster declaration.
Small Talk
ON THIS DATE: In 1773, in Boston Harbor, a group of Massachusetts colonists disguised as Mohawk Indians boarded three British tea ships and dumped 342 chests of tea into the harbor. The midnight raid, popularly known as the “Boston Tea Party,” was in protest of the British Parliament’s Tea Act of 1773. In 1901, “The Tale of Peter Rabbit,” by Beatrix Potter, was printed for the first time. In 1905, Sime Silverman published the first issue of “Variety”. In 1944, during World War II, the Battle of the Bulge began in Belgium. It was the final major German counteroffensive in the war. In 1972, the Miami Dolphins became the first NFL team to go unbeaten and untied in a 14-game regular season. The Dolphins went on to defeat the Washington Redskins in Super Bowl VII. In 1998, Eric Michelman filed the earliest patent for a scroll wheel for a computer mouse. In 1999, Sigourney Weaver received a star on the Hollywood Walk of Fame.

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