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PLANSPONSOR NEWSDASH LOGO February 8th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Actions to Address Retirement Savings Shortfalls for Military Spouses
Actions to Address Retirement Savings Shortfalls for Military Spouses
Spouses of service members face unique challenges in the workforce, including unemployment and relocations, that can make it difficult to save in retirement plans.
Webinar
Complying With New Regulations/Legislation
Join PLANSPONSOR for a webinar in which industry sources will review provisions of the SECURE Act; review new regulations and legislation that will affect retirement plan sponsors; anddiscuss steps to comply with new regulations and legislation.
Most Read

2021 Plan Sponsor of the Year
Administration
A Checklist for Retirement Plan Committees
Administration
How to Effectively Measure Retirement Plan Success
SPONSORED BY: Pacific Life
Pacific Life's Newest Podcast: The Wave Strength
Click to listen as Ahmet Kamil discusses The Secure Act and the provisions within this important piece of legislation. Catch the wave today!
Economic Events
The unemployment rate fell by 0.4 percentage point to 6.3% in January, while nonfarm payroll employment changed little (+49,000), the Bureau of Labor Statistics reported. The labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic and efforts to contain it.

Wednesday, the Bureau of Labor Statistics will reveal the consumer price index for January, and the Census Bureau will report about wholesale trade in December. Thursday, the Labor Department will issue its initial claims report.
Market Mirror
Friday, the Dow was up 92.38 points (0.30%) at 31,148.24, the Nasdaq closed 78.55 points (0.57%) higher at 13,856.30, and the S&P 500 increased 15.09 points (0.39%) to 3,886.83. The Russell 2000 climbed 73.62 points (3.41%) to 2,233.33, and the Wilshire 5000 gained 233.81 points (0.57%) to finish at 41,448.75.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.167%. The price of the 30-year Treasury bond decreased 7/32, bringing its yield up to 1.973%.

For the week ending February 5, the Dow was up 3.89%, the Nasdaq gained 6.01%, and the S&P 500 increased 4.65%. The Russell 2000 climbed 7.70%, and the Wilshire 5000 finished 5.21% higher.
Administration
Provider Choice Shown to Help K-12 Employees Save More for Retirement
Relationships are important, especially considering the differences between the K-12 403(b) market and other DC plan markets.
Benefits
More Plan Sponsors Executing Financial Wellness Programs
In addition, program topics that were once a rarity have now become commonplace, and financial well-being offerings are expanding into nontraditional benefits.
Rules/Regs
Mortality Tables Reflect Longer Life
Updated IRS regulations let retirement plan participants leave their account untouched longer.
Small Talk
ON THIS DATE: In 1693, a charter was granted for the College of William and Mary in Williamsburg, Virginia. In 1861, the Confederate States of America was formed. In 1896, the Western Conference, a Division I collegiate athletic conference, was formed by representatives of Midwestern universities. The group changed its name to the Big 10 Conference. In 1910, William D. Boyce incorporated the Boy Scouts of America. In 1922, the White House began using radio after U.S. President Harding had it installed. In 1952, Queen Elizabeth II ascended to the British throne. Her father, George VI, had died on February 6. In 1963, the Kennedy administration prohibited travel to Cuba and made financial and commercial transactions with Cuba illegal for U.S. citizens. In 1963, Lamar Hunt, owner of the American Football League franchise in Dallas, moved the operation to Kansas City. The new team was named the Chiefs. In 1971, the Nasdaq stock-market index debuted. In 1985, “The Dukes of Hazzard” ended its 6-1/2 year run on CBS television.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Do you think working remotely has affected your career success? In what ways?” Among respondents, 84% are currently working remotely, and 12% reported they are not working remotely now but have done so at some point since the pandemic started. Forty-eight percent said they do not think working remotely has affected their career success, but more than one-third (36%) said they think it has. Asked in which ways working remotely has affected their career success, nearly one-third (32%) each selected “I am less visible to managers/leaders,” and “I am suffering from burnout and a lack of motivation.” More than one-quarter (28%) selected “I do not have all the tools I need to do my best work.” Asked for comments about the effect of working remotely on employees’ careers, some readers said it depends very much on how employees react and behave. While some agreed remote work would have some negative effects, readers also offered tips for overcoming the limitations and negative effects. Editor’s Choice goes to the reader who said: “If there’s a will, there’s a way! If you’re too apprehensive about reaching out for help (tools, resources, guidance, etc.) or not disciplined enough to focus on putting out your best work (which a good manager/leader will notice), you’re probably the one who festers in their cube or is distracting others in the office. Yes, burnout is real; but that’ll happen anywhere. Know yourself and your limits.” A big thank you to all who participated in our survey!
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