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Insight on Plan Design & Investment Strategy Every Weekday
The Future for Annuities in DC Plans
The Future for Annuities in DC Plans
The SECURE Act offered an annuity selection safe harbor for plan sponsors, but education will be the first step in getting this income protection to plan participants.
2020 PLANSPONSOR National Conference
Why Should You Attend PSNC?
Discussions and presentations by people from a cross-section of the retirement plan industry; insight and education about plan design, investments, administration and compliance; a chance to hear from peer plan sponsors; documentation of sessions attended to put into a fiduciary file; and chances to gain continuing education credits. All this at a beautiful resort in Orlando, Florida, with some fun activities included. Need we say more? You can register for the event here.
Most Read
Data and Research
Minor Saving Increases Can Achieve 75% Income Replacement
More TDF Underperformance Lawsuits Emerge Across US
Data and Research
Employers Face ‘Tension’ Between Health Care And Financial Wellness
Reasons to Consider a QSEHRA for Small Business Health Benefits
Employers can easily budget their costs, employees use their allowances for a wide range of benefits and it helps small employers compete for talent.
Economic Events
Interest rates for a 30-year fixed-rate mortgage averaged 3.47% for the week ending February 13, slightly up from last week when it averaged 3.45%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 4.37%. Interest rates for a 15-year fixed-rate mortgage averaged 2.97%, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.81%.

In January, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1% on a seasonally adjusted (SA) basis; rising 2.5% over the last 12 months, not seasonally adjusted (NSA), the Bureau of Labor Statistics reported. The index for all items less food and energy rose 0.2% in January (SA); up 2.3% over the year (NSA).

Real average hourly earnings increased 0.1% over the month in January (SA). Average hourly earnings increased 0.2% and CPI-U increased 0.1%. Real average weekly earnings increased 0.1% over the month.

In the week ending February 8, the advance figure for seasonally adjusted initial claims for unemployment insurance was 205,000, an increase of 2,000 from the previous week’s revised level of 203,000, the Labor Department reported. The four-week moving average was 212,000, unchanged from the previous week’s revised average.
Market Mirror
Thursday, the Dow lost 128.11 points (0.43%) to finish at 29,423.31, the NASDAQ decreased 13.99 points (0.14%) to 9,711.97, and the S&P 500 closed 5.51 points (0.16%) lower at 3,373.94. The Russell 2000 was up 4.36 points (0.26%) at 1,693.74, and the Wilshire 5000 was down 33.35 points (0.10%) at 34,369.88.

The price of the 10-year Treasury note fell 17/32, increasing its yield to 1.615%. The price of the 30-year Treasury bond was up 5/32, decreasing its yield to 2.071%.
Record Balances Raise the Stakes for DC Plan Investors
Both market gains and improved savings behaviors have pushed defined contribution (DC) plan balances to record levels.
Investment Product and Service Launches
iShares expands ESG initiatives; T. Rowe Price announces enhancements to TDFs; and Swan Global Investments reduces CIT fees.
Small Talk
ON THIS DATE: Around the year 270 A.D., Valentine, a holy priest in Rome in the days of Emperor Claudius II, was executed. In 1779, Captain James Cook, the great English explorer and navigator, was killed by natives of Hawaii during his third visit to the Pacific island group. In 1859, Oregon became the 33rd member of the Union. In 1876, Alexander Graham Bell filed an application for a patent for the telephone. In 1899, Congress approved voting machines for use in federal elections. In 1903, the U.S. Department of Commerce and Labor was established. In 1912, Arizona was admitted as the 48th U.S. state. In 1920, the League of Women Voters was founded in Chicago. The first president of the organization was Maude Wood Park. In 1929, the “St. Valentine’s Day Massacre” took place in Chicago. Seven gangsters who were rivals of Al Capone were killed. In 1946, ENIAC (Electronic Numerical Integrator and Computer) was unveiled. The device, built at the University of Pennsylvania, was the world’s first general purpose electronic computer. In 1980, Walter Cronkite announced his retirement from the “CBS Evening News.” In 2005, the video-sharing website YouTube was activated. In 2018, an expelled student entered Parkland, Florida’s Marjory Stoneman Douglas High School and opened fire, killing 17 people and wounding 17 others, in what became the deadliest shooting at a high school in United States history.

And now for some FRIDAY FUN!
Fix a broken zipper with a fork.

A dog with a pig snout, or an oddly turned head?

In Clearwater, Florida, a 73-year-old man told his wife, 68, he wanted a separation from marriage. You might say the wife’s reaction was over the top. As the couple argued over the separation, the wife “pulled out a taser and drive stunned him several times,” according to a criminal complaint charging her with aggravated domestic battery, the Smoking Gun reports. The court filing does not indicate whether Carr’s husband was injured as a result of the tasing.

In Marshfield, Wisconsin, a woman driving along a street crashed into a toilet left in the middle of the lane. She told police she was distracted by another toilet left in the opposite lane when she crashed. According to ONFOCUS, the investigating officer indicated he believed the two toilets were left in the road deliberately, as both were upright and intact prior to the collision.

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