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Insight on Plan Design & Investment Strategy Every Weekday
Could There Be a Renewed Interest in DB Plans?
Could There Be a Renewed Interest in DB Plans?
There are plan designs that decrease the risk and volatility for plan sponsors, and defined benefit plans offer the guaranteed lifetime income participants desire.
Why Retirement and Emergency Savings Need to Go Hand in Hand
Nearly 30% of workers have no emergency savings fund, leading many to raid their retirement accounts.
Most Read
IRS Updates Life Expectancy Tables for Retirees
Recent TDF Performance Lawsuits Raise Insurer Ire
Ask the Experts
Should Each Recordkeeper Use Its Own Plan Document?
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.81% for the week ending February 18, up from last week when it averaged 2.73%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.49%. Interest on a 15-year fixed-rate mortgage averaged 2.21%, up from last week when it averaged 2.19%. A year ago at this time, the 15-year FRM averaged 2.99%.

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,580,000. This is 6.0% below the revised December estimate of 1,680,000 and is 2.3% below the January 2020 rate of 1,617,000, the Census Bureau reported. Single-family housing starts in January were at a rate of 1,162,000; this is 12.2% below the revised December figure of 1,323,000. The January rate for units in buildings with five units or more was 402,000.

In the week ending February 13, the advance figure for seasonally adjusted initial claims for unemployment insurance was 861,000, an increase of 13,000 from the previous week’s revised level of 848,000, the Labor Department announced. The four-week moving average was 833,250, a decrease of 3,500 from the previous week’s revised average of 836,750.
Market Mirror
Thursday, the Dow was down 119.68 points (0.38%) at 31,493.34, the Nasdaq lost 100.14 points (0.72%) to finish at 13,865.36, and the S&P 500 decreased 17.36 points (0.44%) to 3,913.97. The Russell 2000 fell 37.72 points (1.67%) to 2,218.39, and the Wilshire 5000 closed 257.98 points (0.62%) lower at 41,674.30.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.298%. The price of the 30-year Treasury bond decreased 32/32, bringing its yield up to 2.085%.
Deals and People
Calling All PLANSPONSOR Plan Adviser of the Year Nominations
Does your retirement plan adviser go above and beyond for your plan and participants? Tells us their story by nominating them for the 2021 PLANSPONSOR Plan Adviser of the Year awards.
Settlement Published in Raytheon ‘Actuarial Equivalence’ ERISA Suit
The text of the settlement agreement and its accompanying exhibitory documents stretches to nearly 300 pages, underscoring the complexity of the fiduciary issues at hand.
Investment Product and Service Launches
Vanguard releases international bond index fund; Putnam Investments will launch active ETF strategies; and Alger expands CIT offerings.
Small Talk
ON THIS DATE: In 1473, Nicolaus Copernicus was born in Torun, a city in north-central Poland on the Vistula River. The father of modern astronomy, he was the first modern European scientist to propose that Earth and other planets revolve around the sun. In 1807, Aaron Burr, a former U.S. vice president, was arrested in Alabama on charges of plotting to annex Spanish territory in Louisiana and Mexico to be used toward the establishment of an independent republic. In 1847, the first rescuers reached surviving members of the Donner Party, a group of California-bound emigrants stranded by snow in the Sierra Nevada Mountains. In 1878, Thomas Alva Edison patented a music player (the phonograph). In 1942, President Franklin Roosevelt signed an executive order giving the military the authority to relocate and intern Japanese-Americans. In 1945, Operation Detachment, the U.S. Marines’ invasion of Iwo Jima, was launched. In 1985, William Schroeder became the first artificial-heart patient to leave the confines of the hospital. In 1985, Cherry Coke was introduced by the Coca-Cola Company. In 2004, Former Enron Corp. chief executive Jeffrey Skilling was charged with fraud, insider trading and other crimes in connection with the energy trader’s collapse. Skilling was later convicted and sentenced to more than 24 years in prison. In 2005, the USS Jimmy Carter was commissioned at Groton, Connecticut. It was the last of the Seawolf class of attack submarines.

No FRIDAY FUN this week, but here’s wishing everyone a safe, healthy and happy weekend!
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