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PLANSPONSOR NEWSDASH LOGO February 1st, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Participants
Public Sector Gen X Workers Face More Outstanding Retirement Plan Loans
Public Sector Gen X Workers Face More Outstanding Retirement Plan Loans
Likely feeling the same financial squeeze as their private sector counterparts, the new Public Retirement Research Lab also found they are contributing less to retirement savings.
Data and Research
Americans Thinking of Reallocating Portfolios Following Election
The right messaging and access to advice can help retirement plan participants make the right decisions for their financial future.
Most Read
Compliance
The DOL Has Begun Retirement Plan Cybersecurity Audits
Research
2021 Target-Date Fund Survey

2020 Recordkeeping Survey
SPONSORED BY: AYCO
Benefit considerations—Furloughs, layoffs and voluntary separation offers
COVID-19’s economic impact has HR teams searching for creative ways to right-size their workforce.
Economic Events
Thursday, the Labor Department will issue its initial claims report. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for January.
Market Mirror
Friday, the Dow fell 620.74 points (2.03%) to 29,982.62, the NASDAQ lost 266.46 points (2.00%) to finish at 13,070.70, and the S&P 500 closed 73.14 points (1.93%) lower at 3,714.24. The Russell 2000 was down 32.97 points (1.56%) at 2,073.64, and the Wilshire 5000 decreased 730.89 points (1.82%) to 39,396.17.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.076%. The price of the 30-year Treasury bond decreased 7/32, bringing its yield up to 1.835%.

For the week ending January 29, the Dow was down 3.27%, the NASDAQ lost 3.49%, and the S&P 500 decreased 3.31%. The Russell 2000 fell 4.39%, and the Wilshire 5000 finished 3.40% lower.
Benefits
Virginia Throws Its Hat Into the State-Run Retirement Plan Ring
A bill passed by state lawmakers would direct the state’s 529 plan board to set up and administer VirginiaSaves.
Help With Emergency Savings and Caregiving Among Top Benefits Trends in 2021
Interest has also increased in enhancing workplace giving and volunteer programs, student loan debt help and health care advocacy.
Deals and People
Retirement Industry People Moves
Prudential selects CEO of U.S. Insurance & Retirement Business and OneAmerica hires regional sales director.
Small Talk
ON THIS DATE: In 1790, in the Royal Exchange Building on New York City’s Broad Street, the Supreme Court of the United States met for the first time, with Chief Justice John Jay of New York presiding. In 1862, “The Battle Hymn of the Republic,” by Julia Ward Howe was first published in the “Atlantic Monthly.” In 1884, the first portion, or fascicle, of the Oxford English Dictionary (OED), considered the most comprehensive and accurate dictionary of the English language, was published. In 1893, Thomas A. Edison completed work on the world’s first motion picture studio in West Orange, New Jersey. In 1898, the Travelers Insurance Company of Hartford, Connecticut, issued the first automobile insurance policy. Dr. Truman Martin of Buffalo, New York, paid $11.25 for the policy, which gave him $5,000 in liability coverage. In 1913, Grand Central Terminal (also known as Grand Central Station) opened in New York City. It was the largest train station in the world. In 1919, the first Miss America was crowned in New York City. In 1930, The Times published its first crossword puzzle. In 1951, the first telecast of an atomic explosion took place. In 1960, four black college students began a sit-in protest at a lunch counter in Greensboro, North Carolina. In 1978, antislavery crusader and Civil War veteran Harriet Tubman became the first African American woman to appear on a U.S. postage stamp, the first in the Post Office’s Black Heritage Series. In 2003, NASA’s space shuttle Columbia exploded while re-entering the Earth’s atmosphere. All seven astronauts on board were killed.
SURVEY SAYS RESPONSES: On February 7, the Kansas City Chiefs and the Tampa Bay Buccaneers will compete to win Super Bowl LV. Last week, I asked NewsDash readers, “Which team do you want to win?” I also asked readers to share what they think about how the Super Bowl will be different this year due to the coronavirus pandemic. More than six in 10 responding readers (60.9%) said they want the Kansas City Chiefs to win the Super Bowl. The rest were evenly split between wanting the Tampa Bay Buccaneers to win and not caring which team wins. Asked what they think about how the Super Bowl will be different this year due to the coronavirus pandemic, the majority of readers who responded to the question noted that the huge reduction in fans at the stadium will make a big difference. While some said it will make no difference to them watching at home, others lamented the inability to attend Super Bowl parties. Some thought the quality of commercials will suffer, although one reader said: “I like how some companies aren’t doing ads this year and donating that money to help the COVID cause.” I agree with the reader who said: “I’ve heard the commercials will remind us that we’re in a pandemic. Really? How about a nice distraction?” If you need fodder for more betting, one reader predicted, “For the first time in Super Bowl history we will hear the words ‘pivot’ and ‘unprecedented’ repeatedly spoken by the broadcasters. They will use these words in ways that have nothing to do with any action on the field of play.” Among readers who left general comments, many are excited about the game, but a couple said things have changed over the years to put them off. A couple are upset the Packers didn’t make it into the Super Bowl. Quite a few comments about the quarterbacks… Editor’s Choice goes to the reader who said: “Stop using Roman numerals!”
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