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Insight on Plan Design & Investment Strategy Every Weekday
Recordkeeper Consolidation Can Be a Good Thing
Recordkeeper Consolidation Can Be a Good Thing
The pool of options may be shrinking, but recordkeepers have to focus on meeting participant and plan sponsor needs to keep business going.
Kroger Takes More Action to Secure Retirement Benefits for Employees
The grocer has withdrawn from a multiemployer pension plan, and a new variable annuity pension plan will provide benefits for future service of Kroger and Stop & Shop employees.
Most Read
EARN Act Clears Senate Finance Committee
2021 Recordkeeping Survey
Plaintiffs Rebuffed by Appeals Court in Active Management Lawsuit
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.71% for the week ending December 3, down from last week when it averaged 2.72, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.68%. Interest on a 15-year fixed-rate mortgage averaged 2.26%, down from last week when it averaged 2.28%. A year ago at this time, the 15-year FRM averaged 3.14%.

In the week ending November 28, the advance figure for seasonally adjusted initial claims for unemployment insurance was 712,000, a decrease of 75,000 from the previous week’s revised level of 787,000, the Labor Department reported. The four-week moving average was 739,500, a decrease of 11,250 from the previous week’s revised average of 750,750.
Market Mirror
Thursday, the Dow closed 85.73 points (0.29%) higher at 29,969.52, the NASDAQ increased 27.82 points (0.23%) to 12,377.18, and the S&P 500 was down 2.29 points (0.06%) at 3,666.72. The Russell 2000 gained 12.66 points (0.69%) to finish at 1,848.70, and the Wilshire 5000 was up 80.00 points (0.21%) at 38,304.54.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 0.905%. The price of the 30-year Treasury bond increased 29/32, bringing its yield down to 1.657%.
Industry Analysis
How Will PEPs Develop?
Pooled employer plans’ appeal may be that they ease administration.
BoA Planning Retirement Plan Managed Account Service for 1Q21
While Bank of America had offered a managed account solution with Morningstar as the investment manager, this is the first time it is using a retirement planning solution from its chief investment office.
Investment Product and Service Launches
Domini Impact Investments releases mutual fund and ASI launches several ESG-focused funds.
Small Talk
ON THIS DATE: In 1783, Gen. George Washington said farewell to his officers at Fraunces Tavern in New York. In 1812, Peter Gaillard patented the power mower. In 1943, Baseball Commissioner Kenesaw Mountain Landis announced that any club was free to employ Black players. In 1945, the Senate approved American participation in the United Nations. In 1986, both houses of Congress moved to establish special committees to conduct their own investigations of the Iran-Contra affair. In 1991, Islamic militants in Lebanon released kidnapped American journalist Terry Anderson after 2,454 days in captivity. In 1991, Pan American World Airways ceased operations. In 1992, President George H.W. Bush ordered American troops to lead a mercy mission to Somalia.

And now it’s time for FRIDAY FUN!
Is this really a cat?

Dog’s first attempt at catching a treat confuses her.

In Cleveland, Ohio, a man went to a restaurant that is voluntarily closing due to the coronavirus pandemic. He ordered a beer and when he left he handed money to the employee and told the employee to share the tip with the four employees working the brunch shift. The employee looked down and saw that the tip was $3,000.

In Prague, Czech Republic, hunters encountered a deer, but it turned the tables on them, running away with one of the hunter’s rifle. Police said the deer, frightened by a dog, ran toward the hunters, tore one man’s sleeve and caught the strap of the hunter’s rifle on his antlers, Reuters reports. Another hunter later spotted the deer still carrying the gun. Police are looking for the public’s help with finding the weapon.

Wishing everyone a healthy and happy weekend!
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