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PLANSPONSOR NEWSDASH LOGO May 14th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Plans With ESG Options See Larger Contribution Rates
Plans With ESG Options See Larger Contribution Rates
Ninety percent of participants who are aware of environmental, social and governance options in their plan’s lineup say they invest in them. 
Events
Plan Progress: Lessons From Litigation
Join PLANSPONSOR and retirement industry experts on May 20 as we discuss: Insights revealed from charges filed against plan sponsors, lawsuit settlements and court decisions; new trends in types of claims and plan sponsors being targeted; and how plan sponsors can be prepared in case a lawsuit is filed against them.
Most Read

2021 Participant Survey
Data and Research
Participants Missing the Full Match Remains a Big Problem
Research
2021 Recordkeeping Survey
Economic Events
The Producer Price Index for final demand increased 0.6% in April, as prices for both final demand services and final demand goods also rose 0.6%, the Bureau of Labor Statistics announced. The final demand index advanced 6.2% for the 12 months ended in April.

Interest on a 30-year fixed-rate mortgage averaged 2.94% for the week ending May 13, down from last week when it averaged 2.96%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.28%. Interest on a 15-year fixed-rate mortgage averaged 2.26%, down from last week when it averaged 2.30%. A year ago at this time, the 15-year FRM averaged 2.72%.

In the week ending May 8, the advance figure for seasonally adjusted initial claims for unemployment insurance was 473,000, a decrease of 34,000 from the previous week’s revised level of 507,000, the Labor Department reported. This is the lowest level for initial claims since March 14, 2020, when it was 256,000. The four-week moving average was 534,000, a decrease of 28,250 from the previous week’s revised average of 562,250. This is the lowest level for this average since March 14, 2020, when it was 225,500.
Market Mirror
Thursday, the Dow gained 433.79 points (1.29%) to finish at 34,021.45, the Nasdaq was up 93.31 points (0.72%) at 13,124.99, and the S&P 500 closed 49.46 points (1.22%) higher at 4,112.50. The Russell 2000 climbed 35.81 points (1.68%) to 2,170.95, and the Wilshire 5000 increased 447.73 points (1.06%) to 42,656.28.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.658%. The price of the 30-year Treasury bond was up 4/32, decreasing its yield to 2.393%.
Compliance
Dismissal of Wells Fargo 401(k) Self-Dealing Lawsuit Denied
A judge said the plaintiff plausibly pleaded that the defendants committed fiduciary breaches and prohibited transactions by selecting and retaining proprietary funds.
Senators, Industry Reps Discuss Coverage Gap Solutions
Speakers at a Senate HELP Committee hearing highlighted how the defined contribution plan coverage gap is the most severe for workers in the small business community, as well as for workers of color and women.
Small Talk
ON THIS DATE: In 1796, the first smallpox vaccination was given by Edward Jenner. In 1804, the Lewis and Clark expedition left St. Louis, Missouri, on a mission to explore the Northwest from the Mississippi River to the Pacific Ocean. In 1904, the third Olympiad of the modern era, and the first Olympic Games to be held in the United States, opened in St. Louis, Missouri. In 1913, the Rockefeller Foundation was created by John D. Rockefeller with a gift of $100,000,000. In 1942, the Women’s Auxiliary Army Corps (WAAC) was established by an act of Congress. In 1961, a bus carrying Freedom Riders was bombed and burned in Alabama. In 1973, Skylab, America’s first space station, was successfully launched into an orbit around the earth. In 1980, President Jimmy Carter inaugurated the Department of Health and Human Services. In 1985, Ray Kroc’s first McDonald’s restaurant, located in Des Plaines, Illinois, became the first fast-food business museum. In 1998, singer and actor Frank Sinatra died of a heart attack in Los Angeles, at the age of 82. In 1998, the final episode of the TV series “Seinfeld” aired after nine years on NBC.

And now it’s time for some FRIDAY FUN!
She should take back this new refrigerator.

In Orange County, Florida, have you ever heard of a footballfish? A visitor to Crystal Cove State Park found one washed on shore.

In Douglas, Arizona, it wasn’t utility workers people saw when they looked up. [pic]

In Rome, Italy, people can now get “fresh” pizza from a vending machine. Reuters reports that customers can choose from four different kinds of pizzas costing from 4.50 to 6 euros ($5.20 to $7.20) with the “Mr. Go Pizza” machine. It kneads and tops the dough and customers can watch the pizza cook behind a small glass window. The news report said reviews by customers ranged from “acceptable if you’re in a hurry” to outright horror.

Have a great weekend!
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