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2021 PLANSPONSOR Service Stars
2021 PLANSPONSOR Service Stars
Five individuals and five teams are recognized for exceeding expectations in their support of plan sponsors. Read their profiles.
Health Costs and Savings Remain Top of Mind
Americans plan to spend 40% of their retirement savings on health care costs, and HSAs are viewed as a key health care benefit, a survey finds.
Most Read
Participants Will Need Support to Understand Lifetime Income Projections
2021 Recordkeeping Survey
Milliman Accused of Failing to Prune Bad Investments From 401(k)
Economic Events
The combined value of distributive trade sales and manufacturers’ shipments for May, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,615.9 billion, down 0.3% from April, but up 28.7% from May 2020, the Census Bureau reported.

Advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $621.3 billion, an increase of 0.6% from the previous month, and 18.0% above June 2020. Total sales for the April through June period were up 31.5% from the same period a year ago. Retail trade sales were up 0.3% from May, and up 15.6% from last year. Clothing and clothing accessories stores were up 47.1% from June 2020, while food services and drinking places were up 40.2% from last year.

Tomorrow, the Census Bureau will report about housing starts for June. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average mortgage rates for the week, and the National Association of Realtors will report about existing home sales for June.
Market Mirror
Friday, the Dow lost 299.17 points (0.86%) to finish at 34,687.85, the Nasdaq closed 115.90 points (0.80%) lower at 14,427.24, and the S&P 500 decreased 32.87 points (0.75%) to 4,327.16. The Russell 2000 was down 27.06 points (1.24%) at 2,163.24, and the Wilshire 5000 fell 327.31 points (0.72%) to 44,920.17.

The price of the 10-year Treasury note was virtually unchanged, with its yield down to 1.295%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 1.922%.

For the week ending July 16, the Dow was down 0.52%, the Nasdaq lost 1.87%, and the S&P 500 decreased 0.97%. The Russell 2000 fell 5.12%, and the Wilshire 5000 finished 1.67% lower.
TIAA Subsidiary’s SEC Settlement Requires Rollover Reforms
Regulators say the firm failed to adequately disclose conflicts of interest to thousands of participants in TIAA recordkept employer-sponsored retirement plans.
ESG Funds Could See More Interest in 2022
Experts anticipate a rise in sustainable investments following the Thrift Saving’s Plan decision to add ESG funds to its lineup in 2022.
Deals and People
Retirement Industry People Moves
Nuveen hires global head of client services; BPAS names new president and executive VP; and Jennsion Associates selects ESG head.
Small Talk
ON THIS DATE: In 1848, at the Wesleyan Chapel in Seneca Falls, New York, a woman’s rights convention—the first ever held in the United States—convened with almost 200 women in attendance. Bloomers were introduced at the convention. In 1946, Marilyn Monroe acted in her first screen test. In 1964, in Illinois, Cahokia Mounds was designated as a U.S. National Landmark. In 1974, the House Judiciary Committee recommended that President Richard Nixon should stand trial in the Senate for any of the five impeachment charges against him. In 1984, Geraldine Ferraro was nominated by the Democratic Party as the first woman from a major political party to run for the office of U.S. Vice-President.
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