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Employers Prioritizing Diversity and Financial Wellness Changes
Employers Prioritizing Diversity and Financial Wellness Changes
Plan sponsors say they will concentrate on diversity, equity and inclusion improvements in their retirement plans in 2022 and examine how participants are using benefits.
Plan Sponsor of the Year Award Nominations Close Soon
Time is running out for you to nominate a plan sponsor to be recognized with our annual Plan Sponsor of the Year awards program. Nominees will be sent an entry form to complete, finalists will be announced at the beginning of March and profiles of finalists will be featured in the April/May PLANSPONSOR print magazine, so deadlines are tight. All entries must be received no later than January 24 at 11:59 p.m.
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ERISA Lawsuit Against O’Reilly Automotive Dismissed
Employers Plan to Cut Back on Benefits Amid Recession Fears
Deals and People
Smart Bolsters Tech Solutions With Acquisition of ProManage
Economic Events
Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,702,000, the Census Bureau announced. This is 1.4% above the revised November estimate of 1,678,000 and is 2.5% above the December 2020 rate of 1,661,000. Single‐family housing starts in December were at a rate of 1,172,000; this is 2.3% below the revised November figure of 1,199,000. The December rate for units in buildings with five units or more was 524,000.
Market Mirror
Wednesday, the Dow lost 339.82 points (0.96%) to finish at 35,028.65, the Nasdaq closed 166.64 points (1.15%) lower at 14,340.26, and the S&P 500 decreased 44.35 points (0.97%) to 4,532.76. The Russell 2000 was down 33.44 points (1.60%) at 2,062.78, and the Wilshire 5000 fell 467.94 points (1.01%) to 45,673.16.

The price of the 10-year Treasury note was up 2/32, decreasing its yield to 1.857%. The price of the 30-year Treasury bond increased 3/32, bringing its yield down to 2.175%.
Supreme Court Declines Review of Delphi Pension Case
Former non-union employees of the auto parts maker sought to overturn the Pension Benefit Guaranty Corporation’s decision to terminate their pension plan.
Second Struggling Union Pension Wins PBGC Financial Support
Alongside confirming that the payment has now gone out to Local 138, PBGC this week announced it has approved a second application for emergency pension funding.
Verity Launches Retirement Plan Governance Platform
The new platform for 403(b) and 457(b) retirement plans is targeted to address challenges in tax-exempt and governmental employer retirement plans. 
Small Talk
ON THIS DATE: In 1885, the roller coaster was patented by L.A. Thompson. In 1887, the Senate approved an agreement to lease Pearl Harbor in Hawaii as a naval base. In 1937, Franklin Delano Roosevelt became the first President to be inaugurated on January 20th. The 20th Amendment of the U.S. Constitution officially set the date for the swearing in of the President and Vice President. In 1945, Franklin Roosevelt, the only president to be elected to three terms in office, was inaugurated to his fourth—and final—term. In 1981, minutes after Ronald Reagan’s inauguration as the 40th president of the United States, the 52 U.S. captives held at the U.S. embassy in Teheran, Iran, were released, ending the 444-day Iran Hostage Crisis. In 1986, the U.S. observed the first federal holiday in honor of slain civil rights leader Martin Luther King Jr. In 2009, Barack Hussein Obama was sworn in as the first African American U.S. president. In 2021, Kamala Harris was sworn in as the 49th U.S. vice president, becoming the first woman, the first Black American and the first Asian American to occupy the office.

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