July 20th, 2020 Insight on Plan Design & Investment Strategy Every Weekday Data and Research 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 Research 2021 Target-Date Fund Survey Compliance The DOL Has Begun Retirement Plan Cybersecurity Audits 2020 Recordkeeping Survey 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. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox!

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