December 21st, 2020 Insight on Plan Design & Investment Strategy Every Weekday Participants Despite Challenging Year, CRDs and Plan Leakage Were Sparse Recordkeepers say they saw low uptake for coronavirus-related distributions and loans, a stark contrast from what was predicted when the CARES Act was passed in March. Data and Research Pandemic Puts a Damper on Workers’ Retirement Outlook More than half say their employment prospects have been hampered by one or more negative impacts, be it a furlough, a layoff, a pay cut or other measure. Most Read Administration Participants Will Need Support to Understand Lifetime Income Projections Data and Research DB Plans Retain Cost Advantage Over DC Plans Compliance Milliman Accused of Failing to Prune Bad Investments From 401(k) Economic Events Tomorrow, the Consumer Confidence Board will release its Consumer Confidence Index for December, and the National Association of Realtors will report about existing home sales for November. Wednesday, the Census Bureau will report about new home sales in November. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders for November. Market Mirror Friday, the Dow fell 124.32 points (0.41%) to 30,179.05, the NASDAQ was down 9.11 points (0.07%) at 12,755.64, and the S&P 500 closed 13.07 points (0.35%) lower at 3,709.41. The Russell 2000 lost 8.06 points (0.41%) to finish at 1,969.99, and the Wilshire 5000 decreased 89.93 points (I0.23%) to 39,130.65. The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.946%, and the price of the 30-year Treasury bond was down 3/32, increasing its yield to 1.693%. For the week ending December 18, the Dow was up 0.44%, the NASDAQ climbed 3.05%, and the S&P 500 increased 1.25%. The Russell 2000 gained 3.05%, and the Wilshire 5000 finished 1.69% higher. Industry Analysis How Will PEPs Develop? Pooled employer plans’ appeal may be that they ease administration. Deals and People Retirement Industry People Moves Raymond James Financial acquires NWPS; Vestwell names retirement services president; and more. Small Talk ON THIS DATE: In 1937, Walt Disney debuted the first, full-length, animated feature in Hollywood. The movie was “Snow White and the Seven Dwarfs.” In 1945, U.S. Gen. George S. Patton died in Heidelberg, Germany, of injuries from a car accident. In 1951, Joe DiMaggio announced his retirement from major league baseball. In 1971, the United Arab Emirates was formed. In 1968, Apollo 8, the first manned mission to the moon, was successfully launched from Cape Canaveral, Florida, with astronauts Frank Borman, James Lovell, Jr. and William Anders aboard. In 2012, the music video for “Gangnam Style,” a song by the Korean artist Psy, became the first YouTube video to garner one billion views. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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