December 20th, 2021 Insight on Plan Design & Investment Strategy Every Weekday Administration Measuring DC Plan Success Requires Going Beyond Common Metrics Greater engagement and education from plan sponsors and recordkeepers are key, but they need more information from participants about employee retirement readiness to form a clearer picture. Administration Retirement Income Solutions Have Slowly Progressed in 2021 Despite employers, plan participants, retirees and near-retirees showing greater interest in lifetime income options, adoption by plan sponsors has remained muted. Most Read Benefits Social Security COLA Increase to Add About $50 per Month in 2025 Administration Many Taxpayers Dodged Penalty Tax for Early Retirement Withdrawals Administration Bills to Ban Arbitration Clauses Reappear in House, Senate Economic Events Wednesday, the Conference Board will release its Consumer Confidence Index for December, and the National Association of Realtors will report about existing home sales for December. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average mortgage rates for the week, and the Census Bureau will report about durable goods orders for November and new home sales for November. Market Mirror Friday, the Dow fell 532.20 points (1.48%) to 35,365.44, the Nasdaq was down 10.75 points (0.07%) at 15,169.68, and the S&P 500 lost 48.03 points (1.03%) to finish at 4,620.64. The Russell 2000 closed 21.48 points (1.00%) higher at 2,173.93, and the Wilshire 5000 decreased 297.51 points (0.63%) to 47,028.32. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.408%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 1.817%. Compliance Lawsuit Claims Voya Impermissibly Favored Its Own TDFs in DC Plan Participants in Voya’s defined contribution retirement plan suggest certain funds were not selected and retained for the plan as the result of an impartial or otherwise prudent process. Data and Research ‘Historically Tight’ Labor Market Stresses Employers Job openings are at record highs, fast food and retail outfits are offering hiring bonuses, and large corporations from retail to banking have substantially raised their minimum wages. Deals and People, 2022 Plan Sponsor of the Year Award Nominations Are Open Award recipients across all categories will be honored at the PLANSPONSOR Awards for Excellence celebration at the PLANSPONSOR National Conference on June 8, 2022. Retirement Industry People Moves Hub International makes new acquisition; Carillon Tower Advisers names head of sustainable investing and corporate responsibility; K&L Gates adds employee benefits partner; and more. Small Talk ON THIS DATE: In 1606, the “Susan Constant,” “Godspeed” and “Discovery” set sail from London. Their landing at Jamestown, Virginia, was the start of the first permanent English settlement in America. In 1860, South Carolina became the first state to secede from the American Union. In 1864, Confederate forces evacuated Savannah, Georgia, as Union Gen. William T. Sherman continued his “March to the Sea.” In 1946, the Frank Capra film “It’s A Wonderful Life” had a preview showing for charity at New York City’s Globe Theatre, a day before its “official” world premiere. In 1957, while spending the Christmas holidays at Graceland, his newly purchased Tennessee mansion, rock-and-roll star Elvis Presley received his draft notice for the United States Army. In 1963, the Berlin Wall was opened for the first time to West Berliners. It was only for the holiday season. It closed again on January 6, 1964. In 1968, author John Steinbeck died at the age of 66. In 1990, the world’s first website and server went live at CERN. The first website was http://info.cern.ch/hypertext/WWW/TheProject.html. In 1998, in Houston, Texas, a 27-year-old woman gave birth to the only known living set of octuplets. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850