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Data and Research
Mega DC Plans Nudge Workers to Increase Savings
Mega DC Plans Nudge Workers to Increase Savings
The 50 largest Northern Trust Asset Management plan sponsors are using auto-escalation to boost savings, but they are not focused on retirement income or decumulation options for plan participants.    
Plan Progress Webinar: Elements to Help Participants Prepare for Retirement
Auto-escalation can help participants save sufficiently to create a reliable stream of income in retirement.
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2023 DC Survey Standouts
Understanding Investments and Fees: A Key Part of Plan Committee Education
Data and Research
Financial Literacy Quiz Reveals Americans Lack Understanding of Retirement Income
Sales of new single‐family houses in June were at a seasonally adjusted annual rate of 590,000, according to the Census Bureau and the Department of Housing and Urban Development. This is 8.1% below the revised May rate of 642,000 and 17.4% below the June 2021 estimate of 714,000.

The Conference Board Consumer Confidence Index decreased in July, following a larger decline in June. The Index now stands at 95.7, down 2.7 points from 98.4 in June. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell to 141.3 from 147.2 last month. The Expectations Index—based on consumers’ short-term outlook for income, business and labor market conditions—ticked down to 65.3 from 65.8. 
Tuesday, the Dow fell 228.50 points (0.71%) to close at 31,761.54, the Nasdaq dropped 220.09 points (1.87%) to 11,562.58 and the S&P sagged 45.79 points (1.15%) to 3,921.05. The Russell 2000 slipped 12.53 points (0.69%) to 1,805.25 and the Wilshire 5000 lost 503.05 points (1.27%) to 39,021.72.

The price of the 10-year Treasury was unchanged and the yield increased to 2.806%. The price of the 30-year Treasury bond was unchanged and the yield was 3.028%.
Best Practices | Plan Design
Talent Management
In response to the ‘Great Resignation,’ employers boost benefits programs.
Are Retirement Plan Sponsors Still Required to File Form 8955-SSA?
“Haven’t heard much about Form 8955-SSA lately. Are retirement plan sponsors still required to file it?”
ON THIS DATE: In 1777, the Marquis de Lafayette arrived in New England to help the rebellious American colonists fight the British. In 1789, the Department of Foreign Affairs was established by the U.S. Congress. The agency was later changed to the Department of State. In 1804, the 12th Amendment to the U.S. Constitution was ratified. With the amendment, electors were directed to vote for a president and for a vice president rather than for two choices for president. In 1866, Cyrus Field successfully completed the Atlantic Cable, an underwater telegraph from North America to Europe. In 1909, Orville Wright set a record for the longest airplane flight. He was testing the first Army airplane and kept it in the air for 1 hour 12 minutes and 40 seconds. In 1940, Warner Brothers released the Looney Tunes animated short film “A Wild Hare,” featuring the debut of Bugs Bunny in his familiar form. In 1946, writer Gertrude Stein, whose Paris home was a salon for leading artists and writers, died at age 72. In 1953, the armistice agreement ending the Korean War was signed at P’anmunjŏm in central Korea. In 1996, in Atlanta, Georgia, the XXVI Summer Olympiad was disrupted by the explosion of a nail-laden pipe bomb in Centennial Olympic Park. In 2003, British-born American entertainer and comic actor Bob Hope, who was known for his rapid-fire delivery of jokes and one-liners, died at age 100.
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