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PLANSPONSOR NEWSDASH LOGO December 17th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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Time to Take Stock
Time to Take Stock
How we got here, and 5 action steps to a more promising future.
Deals and People
2021 Plan Sponsor of the Year Nominations Are Open
Nominations may be made by providers, advisers, consultants, actuaries, attorneys, third-party administrators (TPAs), employees and colleagues, or, you can even nominate yourself.
Most Read
1
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
2
2020 Recordkeeping Survey
3
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
4
John Hancock Agrees to Procedural Changes in ERISA Suit Settlement
5
2021 Defined Benefit Administration Survey
SPONSORED BY: Fidelity Investments
PODCAST: The Power Of
Join Fidelity and our guests as we explore the ideas and actions that give us the power to make better decisions about our work, finances, health care, and lives.
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 $546.5 billion, a decrease of 1.1% from the previous month, but 4.1% above November 2019, the Census Bureau reported. Retail trade sales were down 0.8% from October 2020, but 7.1% above last year. Nonstore retailers were up 29.2% from November 2019, while food services and drinking places were down 17.2% 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 $1,482.3 billion, up 0.9% from September and up 2.2% from October 2019.
Market Mirror
Wednesday, the Dow fell 44.77 points (0.15%) to finish at 30,154.54, the NASDAQ closed 63.13 points (0.50%) higher at 12,658.19, and the S&P 500 was up 6.55 points (0.18%) at 3,701.17. The Russell 2000 increased 41.02 points (2.15%) to 1,952.72, and the Wilshire 5000 climbed 46.12 points (0.12%) to 38,913.04.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.921%. The price of the 30-year Treasury bond decreased 1/32, bringing its yield up to 1.660%.
Compliance
A Conversation With a Union Pension Funding Advocate
One outspoken advocate for the Butch Lewis Act says the time is ripe for addressing the funding challenges faced by union sponsored multiemployer pension plans.
UpFront
The Forecast for PRTs
While the start of the year was rocky, 2020 could close with an environment favorable to making these plan transactions.
SPONSORED BY: AYCO
Benefit considerations—Furloughs, layoffs and voluntary separation offers
COVID-19’s economic impact has HR teams searching for creative ways to right-size their workforce.
Small Talk
ON THIS DATE: In 1903, near Kitty Hawk, North Carolina, Orville and Wilbur Wright made the first successful flight in history of a self-propelled, heavier-than-air aircraft. In 1953, the Federal Communications Commission (FCC) decided to approve RCA’s color television specifications. In 1963, one of the first major pieces of environmental legislation in the United States—the Clean Air Act—became law. In 1969, the U.S. Air Force closed its Project “Blue Book” by concluding that there was no evidence of extraterrestrial spaceships behind thousands of UFO sightings. In 1975, a federal jury in Sacramento, California, sentenced Lynette Alice Fromme, also known as “Squeaky” Fromme, to life in prison for her attempted assassination of President Gerald R. Ford. In 1976, WTCG-TV in Atlanta changed its call letters to WTBS, and was uplinked via satellite, becoming the first commercial TV station to cover the entire U.S. In 1979, Hollywood stuntman Stan Barrett blasted across a dry lakebed at California’s Edwards Air Force Base in a rocket- and missile-powered car, becoming the first man to travel faster than the speed of sound on land. In 1992, President George H.W. Bush, Canadian Prime Minister Brian Mulroney and Mexican President Carlos Salinas de Gortari signed the North American Free Trade Agreement. In 2000, Terrell Owens (San Francisco 49ers) caught an NFL-record 20 passes for 283 yards and a touchdown against the Chicago Bears. In 2004, President George W. Bush signed into law the largest overhaul of U.S. intelligence gathering in 50 years. The bill aimed to tighten borders and aviation security. It also created a federal counterterrorism center and a new intelligence director position.
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