Plansponsor Logo
PLANSPONSOR NEWSDASH LOGO December 7th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
PS Coach
‘Onboard’ Education
‘Onboard’ Education
How to train new committee members during the pandemic.
Data and Research
Mercer Re-evaluates Retirement Practices for 2021
More employers are emphasizing employee needs as they look to the new year, Mercer says.
Most Read
Opinions
Democrats Take Control of the Senate: What Does That Mean for Your Retirement Plan?

2020 Recordkeeping Survey
Compliance
Takeda Pharmaceuticals Faces ERISA Lawsuit Over TDF Suite in 401(k) Plan
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
New orders for manufactured durable goods in October increased $3.0 billion or 1.3% to $240.8 billion, the U.S. Census Bureau announced. This increase, up six consecutive months, followed a 2.1% September increase. Excluding transportation, new orders increased 1.3%. Excluding defense, new orders increased 0.2%. Transportation equipment, up five of the last six months, led the increase, $0.9 billion or 1.2% to $77.1 billion.

Total nonfarm payroll employment rose by 245,000 in November, and the unemployment rate edged down to 6.7%, according to the Bureau of Labor Statistics. These improvements reflect the continued resumption of economic activity that had been curtailed due to COVID-19, though the pace of improvement has moderated in recent months, the agency said.

Wednesday, the Census Bureau will report about wholesale trade for October. Thursday, the Labor Department will issue its initial claims report, and the Bureau of Labor Statistics will reveal the consumer price index for November. Friday, the Bureau of Labor Statistics will reveal the producer price index for November.
Market Mirror
Friday, the Dow closed 248.74 points (0.83%) higher to finish at 30,218.26, the NASDAQ was up 87.05 points (0.70%) at 12,464.23, and the S&P 500 increased 32.40 points (0.88%) to 3,699.12. The Russell 2000 climbed 56.40 points (3.07%) to 1,892.45, and the Wilshire 5000 gained 397.50 points (1.04%) to finish at 38,703.01.

The price of the 10-year Treasury note decreased 6/32, bringing its yield up to 0.970%. The price of the 30-year Treasury bond fell 1 31/32, increasing its yield to 1.738%.

For the week ending December 4, the Dow was up 1.03%, the NASDAQ climbed 2.12%, and the S&P 500 increased 1.67%. The Russell 2000 gained 2.00%, and the Wilshire 5000 finished 1.70% higher.
Compliance
UPenn Will Settle ERISA Fiduciary Breach Lawsuit
The filing of a stay motion related to a forthcoming settlement represents the beginning of the end for the complicated litigation.
Union Pension Funding Crisis Solution Remains Elusive
There are plenty of ideas to address the funding crisis facing certain multiemployer union pensions, but consensus federal legislation remains out of reach.
Deals and People
Retirement Industry People Moves
Schroders adds institutional director; BPAS CEO announces retirement; Alerus to acquire Retirement Planning Services Inc.; and more.
Small Talk
ON THIS DATE: In 1787, in Dover, Delaware, the U.S. Constitution was unanimously ratified by all 30 delegates to the Delaware Constitutional Convention, making Delaware the first state of the modern United States. In 1796, John Adams was elected to be the second president of the United States. In 1836, Martin Van Buren was elected the eighth president of the United States. In 1941, Pearl Harbor, located on the Hawaiian island of Oahu was attacked by nearly 200 Japanese warplanes. The attack resulted in the U.S. entering into World War II. In 1972, Apollo 17 was launched at Cape Canaveral. It was the last U.S. moon mission. In 1996, the space shuttle Columbia returned from the longest-ever shuttle flight of 17 days, 15 hours and 54 minutes.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Assuming safety precautions are still taken, when do you think it will be safe to attend in-person conferences again?” More than one-third of responding readers said it will not be safe to attend in-person conferences again until sometime in 2022. September 2021 was selected by 12.2% of respondents as being safe to attend in-person conferences again, assuming safety precautions are taken. The majority of respondents who chose to leave comments about attending in-person conferences in 2021 said it will depend on the effectiveness of vaccines and vaccine distribution. Several people expressed a belief that businesses have seen the cost savings and ease of hosting conferences virtually and will not return to in-person conferences. Editor’s Choice goes to the reader who said: “That’s putting a lot of trust in a lot of people I don’t know… Can you tell I have trust issues?” A big thank you to all who participated in the survey!
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
©2021 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850