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PLANSPONSOR NEWSDASH LOGO January 24th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Awards
Last Day for Plan Sponsor of the Year Award Nominations
Today is the final day 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.
Deals and People
Retirement Industry People Moves
LeafHouse Financial announces new transitions; CalPERS board elects new leaders; Creative Planning acquires Reilly Financial Advisors; and more.
Most Read
Data and Research
The Growing Interest in Guaranteed Income Options
Research
2021 Recordkeeping Survey
Data and Research
Emergency Savings Programs Boost Retirement Outcomes
Economic Events
Tomorrow, the Conference Board will release its Consumer Confidence Index for January. Wednesday, the Census Bureau will report about new home sales for December. Thursday, the Labor Department will release its initial claims report, Freddie Mac will update average mortgage rates for the week, and the Census Bureau will report about durable goods orders for December.
Market Mirror
Friday, the Dow lost 450.02 points (1.30%) to finish at 34,265.37, the Nasdaq closed 385.10 points (2.72%) lower at 13,768.92, and the S&P 500 decreased 84.79 points (1.89%) to 4,397.94. The Russell 2000 was down 36.12 points (1.78%) at 1,987.92, and the Wilshire 5000 fell 922.32 points (2.04%) to 44,219.82.

The price of the 10-year Treasury note increased 4/32, bringing its yield down to 1.768%. The price of the 30-year Treasury bond climbed 30/32, decreasing its yield to 2.082%.

For the week ending January 21, the Dow fell 4.58%, the Nasdaq was down 7.55%, and the S&P 500 decreased 5.68%. The Russell 2000 lost 8.07%, and the Wilshire 5000 finished 6.12% lower.
Compliance
Plaintiff Must Arbitrate 403(b) ERISA Claims
An order filed in an excessive fee lawsuit against Baptist Health South Florida says the 403(b) plan in question effectively agreed to arbitration on behalf of the plaintiff.
401(k) Plan Trustees Sue John Hancock Over Retention of Foreign Tax Credits
A federal court certified a class of trustees, sponsors and administrators of all ERISA employee benefit plans that owned variable annuity contracts via John Hancock’s Signature platform.
Small Talk
ON THIS DATE: In 1908, in England, the first Boy Scout troop was organized by Robert Baden-Powell. In 1922, Christian K. Nelson patented the Eskimo Pie. In 1935, canned beer made its debut. In partnership with the American Can Company, the Gottfried Krueger Brewing Company made 2,000 cans of Krueger’s Finest Beer and Krueger’s Cream Ale available for sale in Richmond, Virginia. In 1965, Sir Winston Leonard Spencer Churchill, the British leader who guided Great Britain and the Allies through the crisis of World War II, died in London at the age of 90. In 1985, Penny Harrington became the first woman police chief of a major city when she assumed the duties as head of the Portland, Oregon, force of 940 officers and staff. In 2003, the U.S. Department of Homeland Security began operations under Secretary Tom Ridge. In 2006, Pixar, the company that brought the world the blockbuster hits Toy Story (1995), A Bug’s Life (1998), Monsters, Inc. (2001), Finding Nemo (2003) and The Incredibles (2004) was sold to the Walt Disney Company, its longtime distributor, for $7.4 billion.
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