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Insight on Plan Design & Investment Strategy Every Weekday
Making Adjustments to Nonqualified Plans Not So Easy During Financial Crises
Making Adjustments to Nonqualified Plans Not So Easy During Financial Crises
IRC Section 409A governs plan sponsor and participant decisions for nonqualified plans, and the COVID-19 pandemic will make plan design best practices clearer.
Gen Z Outpacing Other Age Groups in Saving
Steered by the Great Recession and now COVID-19, the youngest working generation is driven to be financially aware and well.
Most Read
2021 DC Plan Benchmarking Survey
Data and Research
Working Past Age 65 May Seem Like a Great Idea …
Data and Research
2022 Retirement Industry Trends to Follow
Investment Product and Service Launches
DWS Group renames fixed income ETFs and MassMutual and NextCapital offer managed advice solution.
Economic Events
Interest rates on a 30-year fixed-rate mortgage averaged 3.28% for the week ending May 14, up slightly from last week when it averaged 3.26%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 4.07%. Interest rates on a 15-year fixed-rate mortgage averaged 2.72%, down slightly from last week when it averaged 2.73%. A year ago at this time, the 15-year FRM averaged 3.53%.

In the week ending May 9, the advance figure for seasonally adjusted initial claims for unemployment insurance was 2,981,000, a decrease of 195,000 from the previous week’s revised level of 3,176,000, the Labor Department reported. The four-week moving average was 3,616,500, a decrease of 564,000 from the previous week’s revised average of 4,180,500.
Market Mirror
Thursday, the Dow climbed 377.37 points (1.62%) to 23,625.34, the NASDAQ increased 80.55 points (0.91%) to 8,943.72, and the S&P 500 gained 32.50 points (1.15%) to finish at 2,852.50. The Russell 2000 was up 4.30 points (0.35%) at 1,237.56, and the Wilshire 5000 closed 312.17 points (1.10%) higher at 28,779.59.

The price of the 10-year Treasury note was up 2/32, decreasing its yield to 0.631%. The price of the 30-year Treasury bond increased 27/32, bringing its yield down to 1.291%.
Judge Permits BBVA ERISA Money Market Lawsuit to Proceed
The lawsuit accuses BBVA of mismanaging a $100 million money market fund ‘that was the investment equivalent of stuffing cash into a mattress.’ The interim ruling highlights the importance of carefully crafting any language included in summary plan documents.
The IRS Will Be Looking at Catch-Up Contributions in 403(b) Plans
The agency published an issue snapshot explaining special catch-up contribution rules after issuing a program letter saying such contributions will be a focus of examinations.
Data and Research
Vanguard Data Supports Adage of Taking Long-Term View With Investing
During the first quarter of 2020, most Vanguard investors saw declines in wealth, but over three years, 89% of DC and 76% of retail households had increases in wealth.
Endowments and Foundations Overlook Investment Risk
Nearly half of the endowments and foundations surveyed indicate an annual loss tolerance of only 5% or less, a figure far exceeded when their portfolios are run through simulations of both the 2002 and 2008 market downturns.
Small Talk
ON THIS DATE: In 1862, Congress created the U.S. Department of Agriculture. In 1918, regular airmail service between New York City, Philadelphia and Washington, D.C., began under the direction of the Post Office Department, which later became the U.S. Postal Service. In 1930, Ellen Church became the first female flight attendant. In 1951, AT&T became the first corporation to have one million stockholders. In 1970, President Richard Nixon appointed America’s first two female generals—Anna Mae Hays and Elizabeth P. Hoisington. In 1972, Alabama Governor George C. Wallace was shot by Arthur Bremer in Laurel, Maryland, while campaigning for the U.S. presidency. Wallace was paralyzed by the shot. In 1980, the first transcontinental balloon crossing of the United States took place. In 2014, the National September 11 Memorial Museum was dedicated in New York City.

And now it’s time for some FRIDAY FUN!
Remember the “Roadrunner” cartoon?

Some of us may be getting into TV a little too much during this time.

What your dog’s sleeping position says about it.

A hairstylist has found a creative way to keep up her skills.
Wishing everyone a safe and happy weekend!
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