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PLANSPONSOR NEWSDASH LOGO February 18th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Why Nonprofits May Prefer a 403(b) Plan Over a 401(k)
It often comes down to nondiscrimination testing.
Deals & People
Retirement Industry People Moves
Thompson Hine LLP hires attorney to EBEC practice; HealthSavings appoints senior sales VP; AllianceBernstein appoints senior officials to responsible investing; and more.
Most Read
Compliance
DOL ESG Proposal Throws a Cloud Over Prior Guidance
Compliance
Lawsuit Says Plan Fiduciaries Should Have Chosen Less Expensive CITs
Opinions
COVID-19 Compliance Corner: IRS Expands CRD Eligibility and Clarifies Loan Rules
SPONSORED BY: Ayco
Tax Matters: An executive guide to navigating year-end tax planning
Insights to help navigate the implications of the current tax environment on your finances.
Economic Events
The combined value of distributive trade sales and manufacturers’ shipments for December, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,461.0 billion, down 0.1% from November 2019, but up 1.7% from December 2018, the Census Bureau reported.

Advance estimates of U.S. retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $529.8 billion, an increase of 0.3% from the previous month, and 4.4% above January 2019. Retail trade sales were up 0.1% from December 2019, and 4.0% from last year. Gasoline stations were up 10.4% from January 2019, and nonstore retailers were up 8.4% from last year.

Wednesday, the Bureau of Labor Statistics will reveal the producer price index for January, and the Census Bureau will report about housing starts for January. Thursday, the Labor Department will issue its initial claims report. Friday, the National Association of Realtors will report about existing home sales for January.
Market Mirror
Friday, the Dow was down 25.23 points (0.09%) at 29,398.08, the NASDAQ closed 19.21 points (0.20%) higher at 9,731.18, and the S&P 500 increased 6.22 points (0.18%) to 3,380.16. The Russell 2000 decreased 6.15 points (0.36%) to 1,687.58, and the Wilshire 5000 was up 58.48 points (0.17%) at 34,428.34.

The price of the 10-year Treasury note was up 25/32, lowering its yield to 1.585%, and the price of the 30-year Treasury bond was up 23/32, decreasing its yield to 2.040%.

For the week ending February 14, the Dow was up 1.02%, the NASDAQ climbed 2.21%, and the S&P 500 increased 1.58%. The Russell 2000 gained 1.86%, and the Wilshire 5000 finished 1.77% higher.
Compliance
Trump’s 2021 Budget Proposes Increasing Multiemployer PBGC Premiums
The premiums would increase by $26 billion over 10 years.
Investing
DB Plan Sponsors Turn to Private Markets for Return
It is critical to choose the right investments and managers.
Small Talk
ON THIS DATE: In 1564, the artist Michelanglelo died in Rome. In 1841, the first continuous filibuster in the Senate began. It lasted until March 11th. In 1861, in Montgomery, Alabama, Jefferson Davis was inaugurated as the president of the Confederate States. In 1885, Mark Twain’s “Adventures of Huckleberry Finn” was published in the U.S. for the first time. In 1929, The Academy of Motion Picture Arts and Sciences announced the winners of the first Academy Awards. In 1930, Pluto was discovered by Clyde Tombaugh. In 1972, the California Supreme Court struck down the state’s death penalty. In 2001, NASCAR driver Dale Earnhardt, Sr., was killed in a crash during the Daytona 500 race.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Do you hit a slump during your work day, and if so, what do you do to rejuvenate yourself?” The vast majority (91.7%) of responding readers said they do hit a slump during their workday. The most popular way to rejuvenate themselves, according to the survey, is to take a walk (78.8%). Nearly four in 10 (39.4%) said they drink coffee and one-third take time to socialize with coworkers. Readers shared other ways they rejuvenate themselves during the work day. A big thank you to the readers who said in verbatim comments that they take time to read the NewsDash to rejuvenate themselves. Other ideas for rejuvenating were also left in the comments. A couple of readers talked about how “resting your eyes” can end up being a longer pick-me-up than planned. Editor’s Choice goes to the reader who said: “Getting out of the building at lunch is priceless.” Thank you to all who participated in our survey!
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