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PLANSPONSOR NEWSDASH LOGO June 28th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Administration
PSNC 2021: Managing Crisis: Investing Lessons From an Aging Workforce
PSNC 2021: Managing Crisis: Investing Lessons From an Aging Workforce
There are plan design features, communications and investment options that can help participants near retirement stay on track for retirement security.
Deals and People
Retirement Industry People Moves
Verus hires investment professionals for Pennsylvania team; FuturePlan by Ascensus announces new DVP; and American Trust acquires Denver-based LT Trust Co.
Most Read
Research
2021 Recordkeeping Survey
Benefits
Giving Employees the Financial Wellness Help They Want
Compliance
DOL Clears Up Timing for Lifetime Income Illustrations
Economic Events
Tomorrow, the Conference Board will release its Consumer Confidence Index for June. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average mortgage rates for the week, and the Census Bureau will report about construction spending for May. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for June, and the Census Bureau will report about factory orders for May.
Market Mirror
Friday, the Dow closed 237.02 points (0.69%) higher at 34,433.84, the Nasdaq was down 9.32 points (0.06%) at 14,360.39, and the S&P 500 was up 14.21 points (0.33%) at 4,280.70. The Russell 2000 was virtually unchanged at 2,334.40, and the Wilshire 5000 increased 151.39 points (0.34%) to 45,037.96.

The price of the 10-year Treasury note decreased 25/32, bringing its yield up to 1.528%. The price of the 30-year Treasury bond fell 1 23/32, increasing its yield to 2.150%.

For the week ending June 25, the Dow gained 3.44%, the Nasdaq was up 2.35%, and the S&P 500 increased 2.74%. The Russell 2000 climbed 4.32%, and the Wilshire 5000 finished 2.92% higher.
Benefits
PSNC 2021: Health vs. Financial Decisionmaking
Health care decisions are financial decisions, and the right tools, communications and advice can help employees make the right choices.
PSNC 2021: Savings Hierarchy — Allocating Between DC Plans, HSAs, Savings and Debt
Experts dissected what financial benefits and opportunities sponsors should offer participants, and any savings or spending hierarchies their participants should prioritize.
PSNC 2021: Helping Participants ‘Reset’
How plan sponsors can get participants back into a saving mode after a rough year.
Products
New TPA to Focus on 403(b), 457 Education & Service
The TPA will give sponsors a platform where they can centralize these functions.
Small Talk
ON THIS DATE: In 1894, Congress made Labor Day a national holiday. In 1902, Congress passed the Spooner bill, authorizing a canal to be built across the isthmus of Panama. In 1914, Archduke Franz Ferdinand of Austria and his wife Sophie were shot to death by a Bosnian Serb nationalist during an official visit to the Bosnian capital of Sarajevo, sparking a chain of events that led to the outbreak of World War I. In 1919, the Treaty of Versailles was signed, ending World War I nearly five years after it began. The treaty also established the League of Nations. In 1938, Congress created the Federal Housing Administration (FHA) to insure construction loans. In 1953, workers at a Chevrolet plant in Flint, Michigan, assembled the first Corvette. In 1969, in what is now regarded by many as history’s first major protest on behalf of equal rights for LGBTQ people, a police raid of the Stonewall Inn—a popular gay club located on New York City’s Christopher Street—turned violent as patrons and local sympathizers began rioting against the authorities. In 1971, the U.S. Supreme Court overturned the draft evasion conviction of Muhammad Ali. In 1976, the first women cadets entered the U.S. Air Force Academy. In 1996, the Citadel voted to admit women, ending a 153-year-old, men-only policy at the South Carolina military school. In 1996, Charles M. Schulz got a star on the Hollywood Walk of Fame. In 2007, the American bald eagle was removed from the endangered species list.
SURVEY SAYS RESPONSES: I recently asked NewsDash readers, “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?” The majority of responding readers (72%) said their companies require employees to change their passwords for both work computers and applications on a regular basis. Only 3% said their companies do not require passwords for computers or applications to be changed on a regular basis. The use of complex password standards are required on the computer and all applications at 78% of respondents’ companies. Thirteen percent said complex password standards are not required. As for personal practices, more than half (53%) of respondents said they change their passwords regularly for some web and digital applications, and one-quarter do so for all. More than two in 10 are not regularly changing passwords. Two-thirds (66%) of respondents use complex password standards for personal use in some instances, 31% do so in all instances, and 3% do not. More than one-third of respondents write down passwords to remember them. Password managers and memory are each used to recall passwords by nearly one-quarter (24%) of respondents. A few readers shared lots of tips for creating passwords and for overall digital security. Editor’s Choice goes to the reader who said: “THERE ARE TOO MANY PASSWORDS, but I know they are necessary. Between work and home, there must be about 45 to keep track of. UGH.” A big thanks to everyone who participated in the survey!
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