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Ensuring a Clean Recordkeeper Conversion
Ensuring a Clean Recordkeeper Conversion
There are steps retirement plan sponsors can take before converting to a new recordkeeper to minimize any “clean up” afterwards; however, there is always follow up to do.
Understanding Roth Conversions
What is an in-plan Roth conversion, and what should plan sponsors consider before implementing the feature?
Most Read
2021 Recordkeeping Survey
Data and Research
The Growing Interest in Guaranteed Income Options
Data and Research
Employers Feel the Strain of Rising Labor Costs
Economic Events
October sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $494.3 billion, down 0.7% from the revised September level and down 1.4% from the October 2018 level, the Census Bureau announced.

Total nonfarm payroll employment rose by 266,000 in November, and the unemployment rate was little changed at 3.5%, according to the Bureau of Labor Statistics. Notable job gains occurred in health care and in professional and technical services. Employment rose in manufacturing, reflecting the return of workers from a strike.

THE ECONOMIC WEEK AHEAD: Wednesday, the Bureau of Labor Statistics will reveal the consumer price index for November. Thursday, the Labor Department will issue its initial claims report, and the Bureau of Labor Statistics will reveal the producer price index for November. Friday, the Census Bureau will report about retail sales for November and business trade for October.
Market Mirror
Friday, the Dow climbed 337.27 points (1.22%) to 28,015.06, the NASDAQ closed 85.83 points (1.00%) higher at 8,656.53, and the S&P 500 increased 28.48 points (0.91%) to 3,145.91. The Russell 2000 gained 19.00 points (1.18%) to finish at 1,633.84, and the Wilshire 5000 was up 281.05 points (0.88%) at 32,038.98.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.841%. The price of the 30-year Treasury bond was down 8/32, increasing its yield to 2.281%.

WEEK’S WORTH: For the week ending December 6, the Dow decreased 0.13%, the NASDAQ increased 0.16%, and the S&P 500 was down 0.10%. The Russell 2000 finished 0.57% higher, and the Wilshire 5000 was up 0.04%.
10 Action Steps for DB Sponsors in 2020
Willis Towers Watson says the pension plan landscape is quickly changing, as returns will be lower while volatility is likely to increase.
Deals and People
Retirement Industry People Moves
Pantheon announces appointment of partner and other hires; Millennium Trust acquires Liberty Trust assets; and Mercer announces recent hires to global and U.S. market.
Small Talk
ON THIS DATE: In 1803, the 12th Amendment to the U.S. Constitution was passed by Congress. With the amendment Electors were directed to vote for a President and for a Vice-President rather than for two choices for President. In 1926, the United States Golf Association legalized the use of steel-shafted golf clubs. In 1955, Sugar Ray Robinson knocked out Carl Olson and regained his world middleweight boxing title. In 1960, Sperry Rand Corporation unveiled a new computer known as “Univac 1107.” In 1978, the first game of the Women’s Pro Basketball League (WBL) was played between the Chicago Hustle and the Milwaukee Does. In 1979, a commission of scientists declared that smallpox has been eradicated. In 2002, United Airlines filed for Chapter 11 bankruptcy after losing $4 billion in the previous two years. It was the sixth largest bankruptcy filing.
SURVEY SAYS: Last week, I asked NewsDash readers, “What is your favorite holiday movie?” Die Hard, Holiday Inn, Miracle on 34th Street and Rudolph the Red Nosed Reindeer each received 4.8% of votes. Fifth place goes to Elf, with 5.9% of readers selecting it as their favorite holiday movie. A Charlie Brown Christmas and White Christmas tied for fourth place, receiving 7.1% of votes. A Christmas Story and Christmas Vacation, with 8.3% of readers selecting each, tied for the third spot. And No. 2 goes to A Christmas Carol, at 10.7%.
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