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PLANSPONSOR NEWSDASH LOGO January 3rd, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Considerations for Implementing a Phased Retirement Program
Considerations for Implementing a Phased Retirement Program
Employers must decide whether to have a formal or informal program, as well as what benefits to offer those employees making the transition.
Products
Lincoln PathBuilder Income Solution Goes Live on SS&C Platform
The firm says there is significant consumer interest in an in-plan investment option that guarantees lifetime income in retirement.
Most Read
Research
2021 Recordkeeping Survey
Data and Research
Employees Cite Several Reasons for Not Participating in Financial Wellness Programs
Compliance
Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions
Economic Events
Interest on a 30-year fixed-rate mortgage (FRM) averaged 3.11% for the week ending December 30, up from last week when it averaged 3.05%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.67%. Interest on a 15-year FRM averaged 2.33%, up from last week when it averaged 2.30%. A year ago at this time, the 15-year FRM averaged 2.17%.

In the week ending December 25, the advance figure for seasonally adjusted initial claims for unemployment insurance was 198,000, a decrease of 8,000 from the previous week’s revised level of 206,000, the Labor Department reported. The four-week moving average was 199,250, a decrease of 7,250 from the previous week’s revised average of 206,500. This is the lowest level for this average since October 25, 1969, when it was 199,250.

Today, the Census Bureau will report about construction spending for November. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average mortgage rates for the week, and the Census Bureau will report about factory orders for November. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for November.
Market Mirror
Market updates will resume tomorrow.
Compliance
DOL Publishes Informational Copies of 2021 Form 5500
Among other notable changes, the Form 5500 instructions have been amended to make clear that a pooled employer plan is a multiple employer plan that files a single Form 5500 Annual Return/Report.
Data and Research
Demand for Supplemental Health and Other Voluntary Benefits Has Grown
LIMRA finds increased sales for workplace life, disability and supplemental health products, and that COVID-19 increased employees’ interest in accessing additional voluntary benefits.  
Increasing DC Plan Default Deferral Rates a Better Driver of Higher Savings
New research evaluates whether a higher default savings rate or a higher match has a greater impact on retirement savings outcomes.  
Small Talk
ON THIS DATE: In 1825, the first engineering college in the U.S., Rensselaer School, opened in Troy, New York. It is now known as Rensselaer Polytechnic Institute. In 1888, the drinking straw was patented by Marvin C. Stone. In 1924, two years after British archaeologist Howard Carter and his workmen discovered the tomb of the Pharaoh Tutankhamen near Luxor, Egypt, they uncovered the greatest treasure of the tomb—a stone sarcophagus containing a solid gold coffin that holds the mummy of Tutankhamen. In 1938, the March of Dimes was established by U.S. President Franklin Delano Roosevelt. In 1953, Frances Bolton and her son, Oliver from Ohio, became the first mother-son combination to serve at the same time in Congress. In 1957, Dalip Singh Saund assumed office as the first Asian American and the first Sikh elected to Congress. In 1959, Alaska became the 49th U.S. state. In 1973, a 12-member group headed by George Steinbrenner purchased the New York Yankees for $10 million from Columbia Broadcasting System, which had owned the team since 1964. 1983 – Tony Dorsett (Dallas Cowboys) made the longest run from scrimmage in NFL history. Dorsett ran 99 yards in a game against the Minnesota Vikings. In 1993, President George H.W. Bush and Russian President Boris Yeltsin signed the second Strategic Arms Reduction Treaty (START) in Moscow. In 2000, Charles M. Schulz’s final original daily comic strip appeared in newspapers. In 2004, NASA’s Spirit rover landed on Mars. The craft was able to send back black and white images three hours after landing.
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