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PLANSPONSOR NEWSDASH LOGO January 8th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Administration
Sponsors Have Many Considerations as PEPs Hit the Market
Sponsors Have Many Considerations as PEPs Hit the Market
Retirement plan experts offer advice to employers that are considering whether they should move to a pooled employer plan or stick with their single-employer plan.
Data and Research
Data Provides Reasons for Encouraging the Offering of DB Plans
In addition to providing a secure source of retirement income for employees, a report shows benefit payments support the economy and contribute to job growth.
Most Read
Compliance
DOL Offers Guidance for Locating Missing Participants

2020 Recordkeeping Survey
Administration
The Mechanics of Moving to a PEP
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.65% for the week ending January 7, down from last week when it averaged 2.67%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.64%. Interest on a 15-year fixed-rate mortgage averaged 2.16%, down slightly from last week when it averaged 2.17%. A year ago at this time, the 15-year FRM averaged 3.07%.

In the week ending January 2, the advance figure for seasonally adjusted initial claims for unemployment insurance was 787,000, a decrease of 3,000 from the previous week’s revised level of 790,000, the Labor Department reported. The four-week moving average was 818,750, a decrease of 18,750 from the previous week’s revised average of 837,500.
Market Mirror
Thursday, the Dow closed 211.73 points (0.69%) higher at 31,041.13, the NASDAQ gained 326.69 points (2.56%) to finish at 13,067.48, and the S&P 500 increased 55.65 points (1.48%) to 3,803.79. The Russell 2000 was up 38.96 points (1.89%) at 2,096.89, and the Wilshire 5000 climbed 668.02 points (1.69%) to 40,190.11.

The price of the 10-year Treasury note was down 4/32, increasing its yield to 1.080%. The price of the 30-year Treasury bond decreased 32/32, bringing its yield up to 1.861%.
Plan Sponsor of the Year Awards
Less Than One Week Left!!
Nominations for the 2021 Plan Sponsor of the Year awards have been open for a month, and the deadline for entries in January 13.
Compliance
EEOC Issues Notices of Proposed Rulemaking on Wellness Program Rules
The action comes after much back and forth and legal action regarding incentives employers may provide employees to participate in wellness programs.
UpFront
Student Loan Debt by the Numbers
A TIAA-MIT AgeLab study finds student loan debt significantly affects retirement savings longevity planning and family relationships. One-quarter of those not saving for retirement cite student loans as to why. Parents and grandparents who borrow for loved ones are the hardest hit, according to the study. U.S. student loan borrowers owed a collective $1.67 trillion...
Small Talk
ON THIS DATE: In 1642, astronomer Galileo Galilei died in Arcetri, Italy. In 1675, the first corporation was chartered in the United States. The company was the New York Fishing Company. In 1790, George Washington delivered the first State of the Union address. In 1815, the Battle of New Orleans began. The War of 1812 had officially ended on December 24, 1814, with the signing of the Treaty of Ghent. The news of the signing had not reached British troops in time to prevent their attack on New Orleans. In 1835, President Andrew Jackson achieved his goal of entirely paying off the United States’ national debt. It was the only time in U.S. history that the national debt stood at zero, and it precipitated one of the worst financial crises in American history. In 1867, African American men gained the right to vote in the District of Columbia. In 1889, the tabulating machine was patented by Dr. Herman Hollerith. His firm, Tabulating Machine Company, later became International Business Machines Corporation (IBM). In 1918, President Woodrow Wilson announced his Fourteen Points as the basis for peace upon the end of World War I. In 1957, Jackie Robinson announced his retirement from major league baseball in an article that appeared in “LOOK” magazine. In 1958, Bobby Fisher, at the age of 14, won the United States Chess Championship for the first time. In 1964, President Lyndon Johnson declared a “War on Poverty.” In 1973, the trial of seven men accused of bugging Democratic Party headquarters in the Watergate apartment complex in Washington, D.C. opened. In 1975, Ella Grasso became the governor of Connecticut. She was the first woman to become a governor of a state without a husband preceding her in the governor’s chair. In 1997, Mister Rogers received a star on the Hollywood Walk of Fame.

And now it’s time for some FRIDAY FUN!
“Oh, do it!” a boy exclaims impatiently during baptism in cold water.

This dog is not having it with a slow feeder bowl.

All Christmases should include reactions like this.

In Ha Noi, Vietnam, a man went to a doctor complaining of painful and itchy ears. Upon inspection, the doctor found dozens of small “mushrooms” growing in the man’s ears just above the eardrums, according to newsflare. The doctor said the patient had likely transferred the fungus, called otomycosis, into his ears after sharing “ear hygiene equipment” with others.

In Edmonton, Alberta, Canada, an 8-year-old boy was self-conscious about a large birthmark and didn’t want to take off his shirt to go swimming. Not wanting his son to be self-conscious, the boy’s father decided to get the same mark tattooed on himself. Reuters reports that the red-wine colored tattoo covers part of his chest and belly and extends under his left arm. The father unveiled the surprise to his son as he played in a hotel pool earlier this month. “He took off his shirt, and then there was a huge tattoo of my birthmark there,” the 8-year-old boy recalled, adding he felt happy and a little confused, according to Reuters.

Have a safe and happy weekend!
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