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January 13th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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Data and Research
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DB Plans Retain Cost Advantage Over DC Plans
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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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| 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.
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| 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%.
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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.
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