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PLANSPONSOR NEWSDASH LOGO December 2nd, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Investing
Reasons to Offer a Mix of Passive and Active Investments in DC Plans
Reasons to Offer a Mix of Passive and Active Investments in DC Plans
Investment experts say it provides diversification and the potential for better outcomes, and it can provide fiduciary protection for plan sponsors.
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
Research
2021 Target-Date Fund Survey
Compliance
The DOL Has Begun Retirement Plan Cybersecurity Audits
Compliance
Rush of Litigation Against Retirement Plans Expected to Continue
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
Construction spending during October was estimated at a seasonally adjusted annual rate of $1,438.5 billion, 1.3% above the revised September estimate of $1,420.4 billion, the Census Bureau reported. The October figure is 3.7% above the October 2019 estimate of $1,386.8 billion. During the first ten months of this year, construction spending amounted to $1,189.6 billion, 4.3% above the $1,140.4 billion for the same period in 2019.
Market Mirror
Tuesday, the Dow gained 185.28 points (0.63%) to finish at 29,823.92, the NASDAQ closed 156.37 points (1.28%) higher at 12,355.11, and the S&P 500 increased 40.82 points (1.13%) to 3,662.45. The Russell 2000 was up 16.23 points (0.89%) at 1,836.05, and the Wilshire 5000 climbed 354.73 points (0.94%) to 38,194.37.

The price of the 10-year Treasury note decreased 31/32, bringing its yield up to 0.931%. The price of the 30-year Treasury bond fell 2 28/32, increasing its yield to 1.682%.
Ask the Experts
Deadline to Amend Plan for CARES Act Loan Provision
Our 403(b) plan did not allow for loans until the Coronavirus Aid, Relief and Economic Security (CARES) Act was passed and we decided to allow employees to take advantage of the CARES Act loan expansion by allowing loans under that provision. I thought that we had to amend our plan by the end of the 2022 plan year (12/31/2022 in our case), but our recordkeeper insists that we must amend the plan by the end of this year. Is our recordkeeper correct?”
Benefits
Pandemic Lowers Employer Health Care Costs for First Time in Decades
It’s uncertain what will happen with costs going forward, however.
Products
Plan Start-Up Fees Waived by ShareBuilder 401k
Plans set up in December can also include an initial 401(k) contribution from the business owner.
Small Talk
As with practically every other tradition this year, the coronavirus pandemic is affecting company holiday parties. One year after nearly 76% of companies said they planned to hold holiday parties, just 23% of companies are planning a year-end celebration this year, according to a survey by global outplacement and business and executive coaching firm Challenger, Gray & Christmas Inc. Nearly three-fourths (74%) of those will be virtual events.
ON THIS DATE: In 1823, during his annual address to Congress, President James Monroe proclaimed a new U.S. foreign policy initiative that bacome known as the “Monroe Doctrine.” Primarily the work of Secretary of State John Quincy Adams, the Monroe Doctrine forbade European interference in the American hemisphere but also asserted U.S. neutrality in regard to future European conflicts. In 1901, Gillette patented the KC Gillette Razor. It was first razor to feature a permanent handle and disposable double-edge razor blades. In 1954, the U.S. Senate voted to condemn Sen. 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 2001, the Enron Corporation filed for Chapter 11 bankruptcy protection in a New York court, sparking one of the largest corporate scandals in U.S. history.
WEDNESDAY WISDOM: “It is amazing how complete is the delusion that beauty is goodness.”—Leo Tolstoy
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