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PLANSPONSOR NEWSDASH LOGO June 24th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Administration
PSNC 2021: How Outsourcing Fits into Your Plan Administration
PSNC 2021: How Outsourcing Fits into Your Plan Administration
Today’s recordkeepers, advisers and plan sponsors all view outsourcing as part and parcel of a retirement plan’s day-to-day operations.
Investing
PSNC 2021: The Modern DC Plan Investment Lineup
The time is now for retirement plans to view their participants as investors deserving high-touch, personalized retirement income assistance.
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: John Hancock Investment Management
Glide Paths Within the Glide Path
The allocation process for a target-date fund may be more than shifting from equities to fixed income over time. Instead, to maintain an appropriate balance at different lifecycle stages, there may be numerous glide paths involving subcategories of the primary debt and equity asset classes, along with alternatives.
Economic Events
Sales of new single‐family houses in May were at a seasonally adjusted annual rate of 769,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.9% below the revised April rate of 817,000, but is 9.2% above the May 2020 estimate of 704,000.
Market Mirror
Wednesday, the Dow closed 71.34 points (0.21%) lower at 33,874.24, the Nasdaq was up 18.47 points (0.13%) at 14,271.73, and the S&P 500 decreased 4.60 points (0.11%) to 4,241.84. The Russell 2000 increased 7.52 points (0.33%) to 2,303.47, and the Wilshire 5000 was down 3.06 points (0.01%) at 44,592.37.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.485%. The 30-year Treasury bond decreased 26/32, bringing its yield up to 2.108%.
Compliance
Judge Agrees Pension Communication Was Not Clear
A former participant in DuPont’s DB plan claimed that confusing benefit statements caused him to miss out on years of payments.
House Education and Labor Committee Debates SECURE 2.0
Another House committee has held a hearing on the popular ‘SECURE 2.0’ legislation, setting the stage for a full floor debate and potential bipartisan vote.
Products
Bank of America Launches Digital Investment Advisory Program
The Personal Retirement Strategy program includes a dual 3(21)/3(38) solution for retirement plan sponsors.
BPAS and MP Partner on Integrated Technology Solutions
The new partnership is said to eliminate manual uploads, reduce data entry errors and protect data integrity.
Small Talk
ON THIS DATE: In 1896, Booker T. Washington became the first African American to receive an honorary MA degree from Howard University. In 1922, the American Professional Football Association took the name of The National Football League. In 1948, the Soviet Union began the Berlin Blockade. In 1982, the Supreme Court ruled 5-4 that no president could be sued for damages connected with actions taken while serving as President of the United States. In 1986, the Empire State Building was designated a National Historic Landmark. In 1997, U.S. Air Force officials released a 231-page report dismissing long-standing claims of an alien spacecraft crash in Roswell, New Mexico, in 1947.
SURVEY SAYS: A recent survey found bad password practices exist in both personal and work use. Last week I asked, “Does your company require you to change your passwords regularly and use complex password standards?” I also asked, “Are you implementing these practices in your personal use of web and digital applications?” If you haven’t yet responded, please consider doing so today. All responses are anonymous. You may respond to the survey by 6:00 p.m. Eastern time today.
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