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PLANSPONSOR NEWSDASH LOGO July 20th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Remote Work a Boon to Retirement Plan Mobile App Usage
Remote Work a Boon to Retirement Plan Mobile App Usage
With employees working from home, more are tapping their mobile device to check their retirement account.
Investing
Stimulus Helps, But Markets Will Remain Volatile
The S&P 500 could move up and down by 2% every day for the next six months, experts agree.
Most Read
Benefits
Phased Retirement Programs Offer Perks for Employees and Employers

2020 Recordkeeping Survey
Compliance
VALIC Financial Advisors Charged With Disclosure Failures
SPONSORED BY: Edelman Financial Engines
Put Your Employees on the Path From Financial Stress to Financial Success
60% of employees say financial stress has a detrimental impact on their jobs.
Economic Events
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,186,000, the Census Bureau reported. This is 17.3% above the revised May estimate of 1,011,000, but is 4.0% below the June 2019 rate of 1,235,000. Single-family housing starts in June were at a rate of 831,000; this is 17.2% above the revised May figure of 709,000. The June rate for units in buildings with five units or more was 350,000.

Wednesday, the National Association of Realtors will report about existing home sales for June. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about new home sales in June.
Market Mirror
Friday, the Dow was down 62.76 points (0.23%) at 26,671.95, the NASDAQ increased 29.36 points (0.28%) to 10,503.19, and the S&P 500 was up 9.16 points (0.28%) at 3,224.73. The Russell 2000 gained 45.06 points (3.15%) to finish at 1,473.32, and the Wilshire 5000 closed 101.15 points (0.31%) higher at 32,907.02.

The price of the 10-year Treasury note decreased 22/32, bringing its yield up to 0.629%. The price of the 30-year Treasury bond was down 4/32, increasing its yield to 1.330%.

For the week ending July 17, the Dow gained 2.29%, the NASDAQ was down 1.08%, and the S&P 500 finished 1.25% higher. The Russell 2000 climbed 3.56%, and the Wilshire 5000 increased 1.17%.
Compliance
Colorado the Latest State to Adopt an Auto-IRA Program
Companies lacking a retirement plan will be required to offer the savings option to their employees.
ERISA Complaint Filed Against Biogen
The complaint points to 2018 as an example year, suggesting that a significant percentage of funds in the plan at that time were “much more expensive than comparable funds found in similarly sized plans.”
Products
Horace Mann Offers Student Loan Solutions for Educators
Among other things, K–12 school employees will be guided through the process of applying for the Public Service Loan Forgiveness program.
Deals and People
Retirement Industry People Moves
Alliance acquires recordkeeping, actuarial consultant, and JPAM names Institutional Portfolio Strategy head.
Small Talk
ON THIS DATE: In 1881, Sioux Indian leader Sitting Bull, considered a fugitive since the Battle of the Little Big Horn, surrendered to federal troops. In 1942, the first detachment of the Women’s Army Auxiliary Corps, (WACS) began basic training at Fort Des Moines, Iowa. In 1969, at 10:56 p.m. EDT, American astronaut Neil Armstrong, 240,000 miles from Earth, spoke these words to more than one billion people listening at home: “That’s one small step for man, one giant leap for mankind.” Stepping off the lunar landing module Eagle, Armstrong became the first human to walk on the surface of the moon.
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