Plansponsor Logo
Insight on Plan Design & Investment Strategy Every Weekday
Updating TDFs to Provide Better Retirement Income
Three ideas for a qualified default investment alternative (QDIA) design that will better serve participants ready to retire.
Deals and People
Retirement Industry People Moves
Ascensus to acquire employee benefits consulting firm; Multiple hires and promotions at Mutual of Omaha Retirement Services; and Unified Trust Company adds retirement consultant.
Most Read
2021 DC Plan Benchmarking Survey
Data and Research
Working Past Age 65 May Seem Like a Great Idea …
Data and Research
2022 Retirement Industry Trends to Follow
Economic Events
New orders for manufactured durable goods in October increased $1.5 billion or 0.6% to $248.7 billion, the U.S. Census Bureau announced. This increase, up four of the last five months, followed a 1.4% September decrease. Excluding transportation, new orders increased 0.6%. Excluding defense, new orders increased 0.1%. Fabricated metal products, up two of the last three months, led the increase, $0.6 billion or 1.8% to $34.1 billion.

In the week ending November 23, the advance figure for seasonally adjusted initial claims for unemployment insurance was 213,000, a decrease of 15,000 from the previous week’s revised level of 228,000, the Labor Department reported. The four-week moving average was 219,750, a decrease of 1,500 from the previous week’s revised average of 221,250.

The average interest rate for a 30-year fixed-rate mortgage is 3.68%, up from 3.66% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.15%, the same as last week.

THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about construction spending for October. Thursday, the Labor Department will release its initial claims report and the Census Bureau will report about factory orders for October. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for November, and the Census Bureau will report about wholesale trade for October.
Market Mirror
Friday, the Dow lost 112.59 points (0.40%) to finish at 28,051.41, the NASDAQ closed 39.70 points (0.46%) lower at 8,665.47, and the S&P 500 decreased 12.65 points (0.40%) to 3,140.98. The Russell 2000 was down 9.60 points (0.59%) at 1,624.50, and the Wilshire 5000 fell 141.38 points (0.44%) to 32,025.86.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.782%. The price of the 30-year Treasury bond decreased 24/32, bringing its yield up to 2.202%.
What U.S. Retirement Plans Should Know About GDPR
It’s not just multinational employers that need to understand and potentially comply with the European Union’s strict data privacy laws.
Puerto Rico Retirement Plans Will See Tax Provisions Reinstated
Certain provisions regarding plan distributions and loans were erroneously eliminated by a previous bill, a law firm says.
Settlement Announced in Invesco Self-Dealing Suit
Though Invesco previously prevailed in the lawsuit, the plaintiff was in the process of filing an amended complaint.
Small Talk
ON THIS DATE: In 1816, the first savings bank in the U.S., the Philadelphia Savings Fund Society, opened for business. In 1823, President James Monroe outlined his doctrine opposing European expansion in the Western Hemisphere. In 1917, during World War I, hostilities were suspended on the eastern front. In 1954, the Senate voted to condemn Senator Joseph R. McCarthy for what it called “conduct that tends to bring the Senate into dishonor and disrepute.” The censure was related to McCarthy’s controversial investigation of suspected communists in the U.S. government, military and civilian society. In 1970, the Environmental Protection Agency began operations. In 1982, doctors at the University of Utah implanted a permanent artificial heart in the chest of retired dentist Barney Clark. He lived 112 days with the device. The operation was the first of its kind. In 1995, NASA launched a U.S.-European observatory on a $1 billion dollar mission intended to study the sun. In 2001, Enron Corp. filed for Chapter 11 reorganization. The filing came five days after Dynegy walked away from a $8.4 billion buyout. It was the largest bankruptcy in U.S. history.
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
rss icon twitter icon linkedin-in icon facebook icon
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2021 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850