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PLANSPONSOR NEWSDASH LOGO December 17th, 2021
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Plan Benchmarking | Investment Strategies
The Evergreen Discussion
The Evergreen Discussion
Still no winner when it comes to passively vs. actively managed funds.
Products
Investment Product and Service Launches
BNY Mellon Investment Management launches active sustainable ETFs; Northern Trust partners with Accelex on alternative asset data; Ninety One rolls out international franchise fund; and more.
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
Interest on a 30-year fixed-rate mortgage (FRM) averaged 3.12% for the week ending December 16, up from last week when it averaged 3.10%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.67%. Interest on a 15-year FRM averaged 2.34%, down from last week when it averaged 2.38%. A year ago at this time, the 15-year FRM averaged 2.21%.

Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,679,000, the Census Bureau reported. This is 11.8% above the revised October estimate of 1,502,000 and is 8.3% above the November 2020 rate of 1,551,000. Single‐family housing starts in November were at a rate of 1,173,000; this is 11.3% above the revised October figure of 1,054,000. The November rate for units in buildings with five units or more was 491,000.

In the week ending December 11, the advance figure for seasonally adjusted initial claims for unemployment insurance was 206,000, an increase of 18,000 from the previous week’s revised level of 188,000, the Labor Department reported. The four-week moving average was 203,750, a decrease of 16,000 from the previous week’s revised average of 219.750. This is the lowest level for this average since November 15, 1969, when it was 202,750.
Market Mirror
Thursday, the Dow was down 29.79 points (0.08%) at 35,897.64, the Nasdaq fell 385.15 points (2.47%) to 15,180.44, and the S&P 500 decreased 41.18 points (0.87%) to 4,668.67. The Russell 2000 lost 42.75 points (1.95%) to finish at 2,152.46, and the Wilshire 5000 closed 541.09 points (1.13%) lower at 47,325.74.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.429%. The price of the 30-year Treasury bond was down 2/32, increasing its yield to 1.873%.
Compliance
2022 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan. An updated downloadable PDF has been added.
Plan Fiduciary Sentenced for 401(k) Plan Embezzlement
He pleaded guilty after the DOL found he fraudulently collected between $15,000 and $40,000 from plan participants’ accounts.
SEC Proposes New Money Market Fund Rules
The proposed amendments are designed to address potential runs on money market funds during times of market stress.
Small Talk
ON THIS DATE: In 1892, the first issue of “Vogue” was published. 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 1944, during World War II, U.S. Major General Henry C. Pratt issued Public Proclamation No. 21, declaring that, effective January 2, 1945, Japanese American “evacuees” from the West Coast could return to their homes, ending the internment of Japanese Americans. 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 became law. The Clean Air Act empowers federal and state agencies to research and regulate air pollution, marking a major expansion of government efforts to fight back against the damage being done to the climate. 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, Atlanta, changed its call letters to WTBS, and was uplinked via satellite. The station became the first commercial TV station to cover the entire U.S. 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.

And now it’s time for some FRIDAY FUN!
Something to think about when tying the Christmas tree to the car roof.

Decorate much?

A special “Christmas Vacation” light show.

A drug scandal has plagued a beauty contest in Riyadh, Saudi Arabia. The country’s popular King Abdulaziz Camel Festival, which kicked off earlier this month, invites the breeders of the most beautiful camels to compete for some $66 million in prize money. This year, authorities discovered dozens of breeders had stretched out the lips and noses of camels, used hormones to boost the beasts’ muscles, injected camels’ heads and lips with Botox to make them bigger, inflated body parts with rubber bands and used fillers to relax their faces, the Associated Press reports. More than 40 camels were disqualified from the pageant.

Have a great weekend, everyone!
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