Plansponsor Logo
PLANSPONSOR NEWSDASH LOGO December 6th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Events
Plan Progress Webinar: Measuring the Success of Your DC Plan
Plan Progress Webinar: Measuring the Success of Your DC Plan
Join PLANSPONSOR and industry sources December 16 for a webinar in which they will discuss metrics plan sponsors should use to gauge the success of their DC plans; ways to measure participant outcomes, or retirement readiness; and information available to help plan sponsors measure DC plan success.
Opinions
Positioning a Multi-Manager Portfolio for Long-Term Success
DB plan sponsors need to ensure their liability-driven investing strategies are diversified and well-positioned for years to come.
Most Read
Research
2021 Recordkeeping Survey
Data and Research
Employees Cite Several Reasons for Not Participating in Financial Wellness Programs
Compliance
Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions
Economic Events
Total nonfarm payroll employment rose by 210,000 in November, and the unemployment rate fell by 0.4 percentage point to 4.2, according to the Bureau of Labor Statistics. Job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. Retail trade lost jobs.

New orders for manufactured durable goods in October decreased $1.2 billion or 0.5% to $260.1 billion, the U.S. Census Bureau announced. This decrease, down two consecutive months, followed a 0.4% September decrease. Excluding transportation, new orders increased 0.5%. Excluding defense, new orders increased 0.8%. Transportation equipment, down three of the last four months, drove the decrease, 2.0 billion or 2.6% to $75.3 billion.

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 wholesale trade for October. Friday, the Bureau of Labor Statistics will reveal the consumer price index for November.
Market Mirror
Friday, the Dow was down 59.71 points (0.17%) at 34,580.08, the Nasdaq lost 295.85 points (1.92%) to finish at 15,085.47, and the S&P 500 decreased 38.67 points (0.84%) to 4,528.43. The Russell 2000 fell 47.02 points (2.13%) to 2,159.31, and the Wilshire 5000 closed 541.84 points (1.16%) lower at 46,360.86.

The price of the 10-year Treasury note increased 31/32, bringing its yield down to 1.355%. The price of the 30-year Treasury bond climbed 1 32/32, decreasing its yield to 1.682%.

For the week ending December 3, the Dow was down 0.91%, the Nasdaq lost 2.62%, and the S&P 500 decreased 1.44%. The Russell 2000 fell 3.86%, and the Wilshire 5000 finished 2.15% lower.
Compliance
Adidas Excessive Fee Complaint Fails
The unsuccessful complaint relied heavily on tabular depictions of the Adidas plan’s fees calculated as cost per 401(k) plan participant/beneficiary and as a percentage of the total plan’s assets when compared with a representative group of plans.
Products
New PEP Features Adviser Managed Accounts
The QPA pooled employer plan will be available nationwide for employers of all sizes that desire additional fiduciary protections and fewer plan administrative responsibilities.
Deals and People
Retirement Industry People Moves
Lincoln Financial Group names new chief officers; Smart appoints merger and acquisition director; and Moneta names chief philanthropy officer.
Small Talk
ON THIS DATE: In 1735, in London, French surgeon Claudius Amyand performed the first successful appendectomy at St. George’s Hospital. In 1790, Congress moved from New York to Philadelphia. In 1865, the 13th Amendment to the U.S. Constitution, officially ending the institution of slavery, was ratified. In 1884, construction of the Washington Monument was completed. In 1921, the Catholic Irish Free State was created as a self-governing dominion of Britain when an Anglo-Irish treaty was signed. In 1923, President Calvin Coolidge became the first president to give a presidential address that was broadcast on radio. In 1947, Everglades National Park in Florida was dedicated by President Harry Truman. In 1961, Syracuse running back Ernie Davis became the first Black player to win the Heisman Trophy—college football’s top individual award. In 1973, Gerald R. Ford was sworn in as the vice-president of the United States after vice-president Spiro Agnew resigned. In 1994, Orange County, California, filed for bankruptcy protection due to investment losses of about $2 billion. The county is one of the richest in the U.S. and became the largest municipality to file for bankruptcy.
SURVEY SAYS RESPONSES: There’s no shortage of polarizing subjects in America and these topics can even divide families. To have peaceful holiday gatherings, certain subjects might be taboo. Last week, I asked NewsDash readers, “Which subjects are best avoided at your holiday gatherings?” Politics/elections and COVID-19 vaccines were the most selected taboo subjects, at 91% and 53%, respectively. In verbatim comments, a couple of readers noted how civil, respectful debate seems not as common as it previously was. There were expressions of sadness and grief about the divisions in America affecting families. Editor’s Choice goes to the reader who said: “It’s fine to not talk about politics and vaccine mandates because there are so many far more interesting topics to discuss!” A big thank you to all who participated in our survey and wishes for a peaceful and joyful holiday season for everyone!
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
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2022 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850