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Insight on Plan Design & Investment Strategy Every Weekday
Plan Sponsors Should Prudently Manage ERISA Accounts
Plan Sponsors Should Prudently Manage ERISA Accounts
ERISA accounts are created by revenue sharing from funds in a DC plan, and many participant lawsuits have questioned the prudent and fair management of revenue sharing.
Prudence and Loyalty Under ERISA
What do these key terms really mean when it comes to retirement plans?
Most Read
2021 Recordkeeping Survey
Data and Research
Employees Cite Several Reasons for Not Participating in Financial Wellness Programs
Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions
Economic Events
Interest on a 30-year fixed-rate mortgage (FRM) averaged 2.93% for the week ending June 17, down from last week when it averaged 2.96%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.13%. Interest on a 15-year FRM averaged 2.24%, up slightly from last week when it averaged 2.23%. A year ago at this time, the 15-year FRM averaged 2.58%.

In the week ending June 12, the advance figure for seasonally adjusted initial claims for unemployment insurance was 412,000, an increase of 37,000 from the previous week’s revised level of 375,000, the Labor Department reported. The four-week moving average was 395,000, a decrease of 8,000 from the previous week’s revised average of 403,000. This is the lowest level for this average since March 14, 2020, when it was 225,500.
Market Mirror
Thursday, the Dow fell 210.22 points (0.62%) to 33,823.45, the Nasdaq closed 121.67 points (0.87%) higher at 14,161.35, and the S&P 500 decreased 1.84 points (0.04%) to 4,221.86. The Russell 2000 was down 27.23 points (1.18%) at 2,287.46, and the Wilshire 5000 lost 15.91 points (0.04%) to finish at 44,313.06.

The price of the 10-year Treasury note increased 28/32, decreasing its yield to 1.509%, while the price of the 30-year Treasury bond increased 2 28/32, lowering its yield to 2.099%.
Near-Retirees Baffled by Social Security Benefits
In light of COVID-19, many people have expressed interest in topics including survivor benefits.
Investment Product and Service Launches
Dimensional Fund Advisors converts several mutual funds into active ETFs and Investment Metrics launches factor analysis platform.
Small Talk
ON THIS DATE: In 1812, the day after the Senate followed the House of Representatives in voting to declare war against Great Britain, President James Madison signed the declaration into law—and the War of 1812 began. In 1863, J.J. Richardson received a patent for the ratchet wrench. In 1873, Susan B. Anthony was fined $100 for attempting to vote for a U.S. President. In 1928, Amelia Earhart became the first woman to fly across the Atlantic Ocean as she completed a flight from Newfoundland to Wales. In 1942, the U.S. Navy commissioned its first black officer, Harvard University medical student Bernard Whitfield Robinson. In 1948, the United Nations Commission on Human Rights adopted its International Declaration of Human Rights. In 1979, in Vienna, President Jimmy Carter and Soviet Leader Leonid Brezhnev signed the Strategic Arms Limitation Treaty (SALT) 2. In 1983, Dr. Sally Ride became the first American woman in space aboard the space shuttle Challenger. In 1999, Walt Disney’s “Tarzan” opened. In 2009, Greenland assumed control over its law enforcement, judicial affairs, and natural resources from the Kingdom of Denmark. Greenlandic became the official language.

And now it’s time for some FRIDAY FUN!
Maybe this is how the weather feels where you are.

Destined to be a minister.

In Beaverton, Oregon, being a good neighbor, a woman put a sign in her yard about a neighborhood thief so people could retrieve their belongings. [pic]

In Mandan, North Dakota, say what you will about putting family first, but a man skipped his niece’s wedding to play in a poker tournament and won $367,800. The man said he “had to go” because he “had a really strong feeling about this tournament” in Las Vegas, according to the Associated Press. Hopefully, there are no hard feelings by the niece; her uncle told the AP he can buy her a better wedding present now.

In Portugal, a message in a bottle was recovered 2,400 miles from where it was tossed into the sea in 2018. According to the Associated Press, the note inside the Powerade bottle says, “It is Thanksgiving. I am 13 and visiting family in Rhode Island. I am from Vermont.” The note included an email address, but no one has yet responded to an email sent to that address.

Have a wonderful weekend!
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