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PLANSPONSOR NEWSDASH LOGO January 4th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Reducing DC Plan Costs During Financially Challenging Times
Reducing DC Plan Costs During Financially Challenging Times
There are several options for changing benefits and shifting costs, and proper communications can help avoid participant backlash.
Compliance
2021 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan
Most Read
Research
2021 Recordkeeping Survey

2021 Plan Sponsor of the Year
Data and Research
Most DB Plan Sponsors Seeking an Exit
SPONSORED BY: American Century Investments
The Decumulation Conundrum: Income In Retirement
A record number of Americans are currently in retirement, and people are living longer.
Economic Events
In the week ending December 26, the advance figure for seasonally adjusted initial claims for unemployment insurance was 787,000, a decrease of 19,000 from the previous week’s revised level of 806,000, the Labor Department reported. The four-week moving average was 836,750, an increase of 17,750 from the previous week’s revised average of 819,000.

Interest on a 30-year fixed-rate mortgage averaged 2.67% for the week ending December 31, up slightly from last week when it averaged 2.66%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.72%. Interest on a 15-year fixed-rate mortgage averaged 2.17%, down from last week when it averaged 2.19%. A year ago at this time, the 15-year FRM averaged 3.16%.

Today, the Census Bureau will report about construction spending for November. Wednesday, the Census Bureau will report about factory orders for November. Thursday, the Labor Department will release its initial claims report. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for December, and the Census Bureau will report about wholesale trade for November.
Market Mirror
Thursday, the Dow gained 196.92 points (0.65%) to finish at 30,606.48, the NASDAQ was up 18.28 points (0.14%) at 12,888.28, and the S&P 500 closed 24.03 points (0.64%) higher at 3,756.07. The Russell 2000 fell 29.09 points (1.45%) to 1,974.86, and the Wilshire 5000 increased 155.39 points (0.40%) to 39,456.63.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 0.919%. The price of the 30-year Treasury bond increased 2/32, bringing its yield down to 1.649%.

For the week ending December 31, the Dow finished 1.35% higher, the NASDAQ was up 0.65%, and the S&P 500 gained 1.43%. The Russell 2000 fell 1.45%, and the Wilshire 5000 increased 0.72%.
Compliance
Partial Plan Termination Relief Provided in New Stimulus Bill
The legislation also includes rules for qualified disaster relief payments and extends some provisions of the CARES Act. (The article includes a correction from its original version.)
Benefits
Congress Extends Time Employers Can Help Pay Employee Student Loans
It is expected that employers are now more likely to implement the tax-free payments toward employees' student loans.
Financial Wellness Programs Need to Include a Way to Measure Success
There are specific metrics that can be measured via data and employee and employer surveys.
The Changing Attitude Toward HSAs
Considering the need for effective health care in 2020 due to COVID-19, health savings accounts took on new value.
Deals and People
TSA Consulting Group Joins USRBP
U.S. Retirement & Benefits Partners specializes in K-12, governmental, corporate and nonprofit retirement plans.
Small Talk
ON THIS DATE: In 1896, Utah became the 45th U.S. state. In 1936, the first pop music chart based on national sales was published by “Billboard” magazine. In 1962, New York City introduced a train that operated without conductors and motormen. In 1999, 11 European nations adopted a single currency, the euro. In 1999, former professional wrestler Jesse Ventura was sworn in as Minnesota’s 37th governor. In 2007, Nancy Pelosi became first female Speaker of the House.
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