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PLANSPONSOR NEWSDASH LOGO January 13th, 2022
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Data and Research
Student Debt Derails Millennials’ Savings
Student Debt Derails Millennials’ Savings
A significant number of college-educated Millennials feel student debt has affected their ability to save for retirement and to buy a home.
Data and Research
DB Plans Retain Cost Advantage Over DC Plans
New research by the National Institute on Retirement Security reaffirms earlier findings on the greater cost savings and efficiencies provided by pensions as compared to defined contribution plans.

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Research
2021 Best in Class DC Providers
Research
2021 Recordkeeping Survey
Administration
Participants Will Need Support to Understand Lifetime Income Projections
Economic Events
In December, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.5%, seasonally adjusted (SA), and rose 7.0% over the last 12 months, not seasonally adjusted (NSA), the Bureau of Labor Statistics revealed. The index for all items less food and energy increased 0.6% in December (SA); up 5.5% over the year (NSA).

Real average hourly earnings for all employees increased 0.1% in December, SA. Average hourly earnings increased 0.6% and CPI-U increased 0.5%. Real average weekly earnings increased 0.1% over the month.
Market Mirror
Wednesday, the Dow was up 38.30 points (0.11%) at 36,290.32, the Nasdaq gained 34.94 points (0.23%) to 15,188.39, and the S&P 500 increased 13.28 points (0.28%) to 4,726.35. The Russell 2000 closed 17.95 points (0.82%) lower at 2,176.06, and the Wilshire 5000 gained 56.27 points (0.12%) to finish at 47,807.07.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.748%. The price of the 30-year Treasury bond decreased 4/32, bringing its yield up to 2.094%.
Compliance
Agreement Reached in T. Rowe Price Proprietary Funds Lawsuit
The firm has agreed to pay $7 million and offer a brokerage window providing participants with access to nonproprietary funds.
Settlement Agreement Filed in Another Excessive Fee Lawsuit
The defendants in a lawsuit against Bronson Healthcare will pay $3 million to settle charges of ERISA violations.
Small Talk
ON THIS DATE: In 1128, Pope Honorius II granted a papal sanction to the military order known as the Knights Templar. He declared it to be an army of God. In 1854, Anthony Faas of Philadelphia was granted the first U.S. patent for the accordion. He made improvements to the keyboard and enhanced the sound. In 1942, Henry Ford patented the plastic automobile referred to as the “Soybean Car.” The car was 30% lighter than the average car. In 1966, Robert C. Weaver became the first black Cabinet member when he was appointed Secretary of Housing and Urban Development by President Lyndon Johnson. In 1986, the National Collegiate Athletic Association (NCAA) schools voted to adopt Proposition 48, a controversial regulation that mandates minimum high school grades and scores on standardized college entrance exams for student-athletes to participate in sports as freshmen. In 1990, Douglas Wilder of Virginia became the nation’s first African American governor. In 1997, Debbie Reynolds received a star on the Hollywood Walk of Fame. In 1999, Michael Jordan (Chicago Bulls) announced his retirement from the NBA. In 2002, the exhibit “In the Spirit of Martin: The Living Legacy of Dr. Martin Luther King, Jr.” opened at the Charles H. Wright Museum of African American History. More than 100 artists supplied the collection of 120 works of art.
SURVEY SAYS: There are some who believe employees should have their day-to-day financial lives in order before they save for retirement, and there are some who believe employees can manage day-to-day financial issues and save for retirement at the same time. Which camp to you belong in? And, do you feel employers have a responsibility to help employees get their financial lives in order? You may respond to this survey by 6 p.m. Pacific time today.
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