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PLANSPONSOR NEWSDASH LOGO February 22nd, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Participants Are Saving More With ‘TDF-Plus’ Strategies
Participants Are Saving More With ‘TDF-Plus’ Strategies
A new study finds participants who blended funds were on track to replace more of their pre-retirement income than those who did not.
Deals and People
Retirement Industry People Moves
Reams selects fixed income professional as portfolio manager; Schroders announces recent hires in New York and Denver; ERISA attorney joins Jackson Lewis P.C.; and more.
Most Read
Compliance
Another Schlichter Suit Targets Sponsor and Providers

2020 Recordkeeping Survey
Administration
Could There Be a Renewed Interest in DB Plans?
SPONSORED BY: E*TRADE
Considering Provider Support During a Challenging Year
Stock plan sponsors reflect on provider response as they navigate administration during the pandemic.
Economic Events
Tomorrow, the Conference Board will release its Consumer Confidence Index. Wednesday, the Census Bureau will report about new home sales in January. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders in January.
Market Mirror
Friday, the Dow was virtually unchanged at 31,494.32, the Nasdaq was up 9.11 points (0.07%) at 13,874.46, and the S&P 500 decreased 7.26 points (0.19%) to 3,906.71. The Russell 2000 gained 48.30 points (2.18%) to finish at 2,266.69, and the Wilshire 5000 closed 72.89 points (0.17%) higher at 41,747.19.

The price of the 10-year Treasury note was down 4/32, increasing its yield to 1.341%. The price of the 30-year Treasury bond decreased 32/32, bringing its yield up to 2.134%.

For the week ending February 19, the Dow was up 0.11%, the Nasdaq fell 1.57%, and the S&P 500 decreased 0.71%. The Russell 2000 lost 0.99%, and the Wilshire 5000 finished 0.84% lower.
Compliance
Proposed Settlement Reached in Cerner ERISA Suit
The parties are asking a judge to approve the settlement, which includes monetary and non-monetary terms.
Another Schlichter Suit Targets Sponsor and Providers
Even cases that allege potential wrongdoing on the part of a service provider are often targeted exclusively at the plan sponsor. Not so in the latest suit filed by the law firm Schlichter Bogard & Denton.
Small Talk
ON THIS DATE: In 1819, Spanish minister Do Luis de Onis and U.S. Secretary of State John Quincy Adams signed the Florida Purchase Treaty, in which Spain agrees to cede the remainder of its old province of Florida to the United States. In 1860, organized baseball’s first game was played in San Francisco, California. In 1865, Tennessee adopted a new constitution that abolished slavery. In 1879, in Utica, New York, Frank W. Woolworth opened his first 5- and 10-cent store. In 1885, the Washington Monument was officially dedicated in Washington, D.C. In 1924, President Calvin Coolidge delivered the first presidential radio broadcast from the White House. In 1980, in one of the most dramatic upsets in Olympic history, the underdog U.S. hockey team, made up of college players, defeated the four-time defending gold-medal winning Soviet team at the XIII Olympic Winter Games in Lake Placid, New York. In 1997, Scottish scientist Ian Wilmut and colleagues announced that an adult sheep had been successfully cloned. Dolly was born on July 5, 1996. She was the first mammal to have been successfully cloned from an adult cell.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Has the pandemic changed your retirement date?” Nearly two-thirds (64%) of respondents said the pandemic has not changed their retirement date. Less than one in 10 (8.3%) reported that the pandemic has changed their retirement date to later than they planned, and 16.7% said they will be retiring earlier than planned. Among respondents who left comments, several expressed gratitude that they are well-prepared and can make the decision to change their retirement date. There are some who have decided to retire earlier than planned, but for the most part, it seems respondents who commented are sticking with their retirement dates. One reader said, “I know of individuals who have worked longer now due to the pandemic because there’s nothing else to do except for work at home.” What’s interesting to read is the reasons for respondents’ decisions. Editor’s Choice goes to the reader who said: “Ready to focus on things I enjoy and make me happy. Will be doing the little yippee skippee dance on May 20!” A big thank you to everyone who participated in our survey!
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