Plansponsor Logo
Insight on Plan Design & Investment Strategy Every Weekday
Improving Participant Outcomes With Custom TDFs
Improving Participant Outcomes With Custom TDFs
Off-the-shelf TDFs may not meet the needs of participant demographics, so plan sponsors can build custom TDFs to provide greater diversification and less risk near retirement.
Deals and People
Retirement Industry People Moves
Hall Benefits Law names lead ERISA counsel and COO and Aegon Asset Management appoints new global CIO.
Most Read
New Financial Audit Rule Increases Requirements for Plan Sponsors
Data and Research
Participants Missing the Full Match Remains a Big Problem
2021 Recordkeeping Survey
Economic Events
New orders for manufactured durable goods in May increased $26.6 billion or 15.8% to $194.4 billion, the U.S. Census Bureau announced. This increase, up following two consecutive monthly decreases, followed an 18.1% April decrease. Excluding transportation, new orders increased 4.0%. Excluding defense, new orders increased 15.5%. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $20.9 billion or 80.7% to $46.9 billion.

Interest on a 30-year fixed-rate mortgage averaged 3.07% for the week ending July 2, according to Freddie Mac, down from 3.13% last week. A year ago at this time, the 30-year FRM averaged 3.75%. Interest on a 15-year fixed-rate mortgage averaged 2.56%, down slightly from last week when it averaged 2.59%. A year ago at this time, the 15-year FRM averaged 3.18%.

Total nonfarm payroll employment rose by 4.8 million in June, and the unemployment rate fell to 11.1%, the Bureau of Labor Statistics reported. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic, it said.

In the week ending June 27, the advance figure for seasonally adjusted initial claims for unemployment insurance was 1,427,000, a decrease of 55,000 from the previous week’s revised level of 1,482,000, the Labor Department reported. The four-week moving average was 1,503,750, a decrease of 117,500 from the previous week’s revised average of 1,621,250.

Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about wholesale trade for May. Friday, the Bureau of Labor Statistics will reveal the producer price index for June.
Market Mirror
Friday, the Dow increased 92.39 points (0.36%) to 25,827.36, the NASDAQ climbed 53.00 points (0.52%) to 10,207.63, and the S&P 500 gained 14.15 points (0.45%) to finish at 3,130.01. The Russell 2000 was up 4.55 points (0.32%) at 1,431.86, and the Wilshire 5000 closed 137.65 points (0.43%) higher at 31,876.75.

The price of the 10-year Treasury note was unchanged, with its yield to 0.673%, and the price of the 30-year Treasury bond was down 2/32, increasing its yield to 1.432%.

For the week ending July 2, the Dow was up 3.25%, the S&P 500 gained 4.02%, and the NASDAQ climbed 4.62%. The Russell 2000 increased 3.85%, and the Wilshire 5000 finished 3.89% higher.
Use of Fidelity Active Management Funds Questioned in Court
Multiple lawsuits have been filed recently that question the offering of active management funds to retirement plan participants.
What to Know About Potential Open MEP Conflicts
Attorneys say employers considering whether, and what type, of multiple employer plan (MEP) to join will want to closely monitor the progress of guidance anticipated from the Department of Labor and the Internal Revenue Service.
Small Talk
ON THIS DATE: In 1854, in Jackson, Michigan, the Republican Party held its first convention. In 1923, the Union of Soviet Socialist Republics was established. In 1933, the first All-Star baseball game was held in Chicago. The American League beat the National League 4-2. In 1942, diarist Anne Frank and her family took refuge from the Nazis in Amsterdam. In 1945, President Harry Truman signed an order creating the Medal of Freedom. In 1948, Frieda Hennok became the first woman to serve as the commissioner of the Federal Communications Commission. In 1957, Althea Gibson won the Wimbledon women’s singles tennis title. She was the first black athlete to win the event. In 1976, in Annapolis, Maryland, the United States Naval Academy admitted women for the first time in its history with the induction of 81 female midshipmen. In 1981, the Dupont Company announced an agreement to purchase Conoco, Inc. (Continental Oil Co.) for $7 billion. At the time it was the largest merger in corporate history. In 1983, the U.S. Supreme Court ruled that retirement plans could not pay women smaller monthly payments solely because of their gender.
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
rss icon twitter icon linkedin-in icon facebook icon
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2021 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850