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PLANSPONSOR NEWSDASH LOGO July 23rd, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Factors That Can Cut the Cost of Fiduciary Liability Insurance
Factors That Can Cut the Cost of Fiduciary Liability Insurance
An Aon survey of insurers revealed risks they look for that affect insurability and pricing, but good governance practices have been a key factor for years.
Investing
Plan Progress Webinar: Mid-Year Investment Review
At a recent PLANSPONSOR webinar, investment experts reviewed market performances throughout 2021 so far and key rules for plan sponsors to follow with investment lineups.
Most Read
Research
2021 Recordkeeping Survey
Benefits
Defined Benefit vs. Defined Contribution: Understanding the Costs of Each
Investing
Considering the Arguments for and Against Actively Managed Funds in DC Plans
SPONSORED BY: MetLife
Getting the Most Value From HSAs
Employees believe an HSA program benefit will ease their stress and improve their well-being.
Economic Events
Interest on a 30-year fixed-rate mortgage (FRM) averaged 2.78% for the week ending July 22, down from last week when it averaged 2.88%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.01%. Interest on a 15-year FRM averaged 2.12%, down from last week when it averaged 2.22%. A year ago at this time, the 15-year FRM averaged 2.54%.

In the week ending July 17, the advance figure for seasonally adjusted initial claims for unemployment insurance was 419,000, an increase of 51,000 from the previous week’s revised level of 368,000, the Labor Department reported. The four-week moving average was 385,250, an increase of 750 from the previous week’s revised average of 384,500.

Existing-home sales increased in June, snapping four consecutive months of declines, according to the National Association of Realtors. Three of the four major U.S. regions registered small month-over-month gains, while the fourth remained flat. However, all four areas notched double-digit year-over-year gains. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, grew 1.4% from May to a seasonally adjusted annual rate of 5.86 million in June. Sales climbed year-over-year, up 22.9% from a year ago (4.77 million in June 2020).
Market Mirror
Thursday, the Dow increased 25.35 points (0.07%) to 34,823.35, the Nasdaq gained 52.64 points (0.36%) to finish at 14,684.60, and the S&P 500 closed 8.79 points (0.20%) higher at 4,367.48. The Russell 2000 fell 34.57 points (1.55%) to 2,199.48, and the Wilshire 5000 was up 27.86 points (0.06%) at 45,491.55.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.262%. The price of the 30-year Treasury bond increased 31/32, bringing its yield down to 1.903%.
Compliance
Democratic Lawmakers Reintroduce Women’s Retirement Protection Act
Provisions in the bill, which has been introduced in both the House and the Senate, target both longstanding and new imbalances in the U.S. retirement savings system.
Post-COVID, Lawmakers Return, in Earnest, to Retirement Readiness
During a SIFMA webinar earlier this week, Congressional leaders and asset management executives discussed SECURE Act 2.0 and other legislation that should be top-of-mind for plan sponsors.
5th Circuit Ruling Backs American Airlines in ERISA Suit
The ruling represents a legal win for American Airlines in a lawsuit alleging it provided a poorly performing capital preservation option.
Products
Investment Product and Service Launches
Lincoln Financial Group offers in-plan guaranteed income option and Allianz Life launches in-plan income and annuity solution.
Small Talk
SURVEY SAYS: I’ve seen several news reports about what is being called “The Great Resignation.” Whether it’s from employees believing their jobs are still too risky or from the shift to working from home making employees rethink their career desires and family priorities, or a number of other reasons I’ve read about, there is a reported exodus of employees in various industries. This week, I’d like to know, has your company experienced a greater resignation of employees than usual in the past six months to a year? What were some of the reasons employees left? As usual, your responses are anonymous. If you haven’t already responded to this survey, please do so by 6 p.m. Pacific time today.
ON THIS DATE: In 1829, William Burt patented the typographer, which was the first typewriter. In 1885, former president Ulysses S. Grant died of throat cancer. In 1938, the first federal game preserve was approved by the U.S. Fish and Wildlife Service. The area was 2,000 acres in Utah. In 1962, the “Telstar” communications satellite sent the first live TV broadcast to Europe. In 1985, Commodore unveiled the personal computer Amiga 1000. In 1996, at the Summer Olympics in Atlanta, Georgia, the U.S. women’s gymnastics team won its first-ever team gold.

And now it’s time for some FRIDAY FUN!
This is one very effective paper airplane. [warning: loud cheering]

Canadiens with American spirit.

How old do you have to be to operate a rotary phone?

Have a great weekend, everyone!
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