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PLANSPONSOR NEWSDASH LOGO July 9th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Participants Need Guidance on Addressing Retirement Risks
Participants Need Guidance on Addressing Retirement Risks
Providing Social Security education and guaranteed income investment options are among suggestions for how plan sponsors can help.
Participants
401(k) Plan Investors Tilt Further Towards Equities
Average asset allocation in equities rose to 70.2% during June, the highest level in 20 years, though the proportion of new contributions going to equities remained at 69.2%.
Most Read
Research
2021 Recordkeeping Survey
Compliance
DOL Clears Up Timing for Lifetime Income Illustrations
Administration
Addressing Forgotten Accounts Can Improve Retirement Savings Outcomes
SPONSORED BY: Vanguard
Vanguard sees the retirement industry as one ripe for disruption
By implementing the industry’s first cloud native platform, Vanguard is equipped to deliver continuous innovation and serve the evolving needs of plan sponsors and their participants.
Economic Events
Interest on a 30-year fixed-rate mortgage (FRM) averaged 2.90% for the week ending July 8, down from last week when it averaged 2.98%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.03%. Interest on a 15-year FRM averaged 2.20%, down from last week when it averaged 2.26%. A year ago at this time, the 15-year FRM averaged 2.51%.

In the week ending July 3, the advance figure for seasonally adjusted initial claims for unemployment insurance was 373,000, an increase of 2,000 from the previous week’s revised level of 371,000, the Labor Department reported. The four-week moving average was 394,500, a decrease of 250 from the previous week’s revised average of 394.750. This is the lowest level for this average since March 14, 2020, when it was 225,500.
Market Mirror
Thursday, the Dow lost 259.86 points (0.75%) to finish at 34,421.93, the Nasdaq closed 105.28 points (0.72%) lower at 14,559.79, and the S&P 500 decreased 37.31 points (0.86%) to 4,320.82. The Russell 2000 was down 21.17 points (0.94%) at 2,231.68, and the Wilshire 5000 fell 389.94 points (0.86%) to 45,112.83.

The price of the 10-year Treasury note was up 24/32, decreasing its yield to 1.300%. The price of the 30-year Treasury bond increased 26/32, bringing its yield down to 1.924%.
Products,
Principal Partners With Edelman for Personalized Retirement and Financial Wellness Guidance
The relationship provides access to Edelman Financial Engines’ financial planners, as well as a broad array of financial education tools and online advice.
Investment Product and Service Launches
MFS makes changes to CIT line and Diligend and eVestment partner on data exchange platform.
Small Talk
ON THIS DATE: In 1868, Louisiana and South Carolina were the last states to ratify the 14th Amendment to the United States Constitution, which granted citizenship to all persons born or naturalized in the United States—including former enslaved people—and guaranteed all citizens “equal protection of the laws.” In 1872, the doughnut cutter was patented by John F. Blondel. In 1877, Alexander Graham Bell, Gardiner Greene Hubbard, Thomas Sanders and Thomas Watson formed the Bell Telephone Company. In 1922, Johnny Weissmuller became the first person to swim the 100 meters freestyle in less than a minute. In 1951, President Harry Truman asked Congress to formally end the state of war between the United States and Germany. In 1971, the United States turned over complete responsibility of the Demilitarized Zone to South Vietnamese units. In 2005, Danny Way, a daredevil skateboarder, rolled down a large ramp and jumped across the Great Wall of China. He was the first person to clear the wall without motorized aid.

And now it’s time for some FRIDAY FUN!
A homemade fair ride.

In Tokyo, Japan, a display designed to draw attention to new billboard advertising space shows a very realistic 3D image of a cat.

In Brokhus, Denmark, a team of 30 sculpters used more than 5,000 tons of sand to build what is believed to be the world’s tallest sandcastle, standing 69.4 feet high.

Have a wonderful weekend!
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