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PLANSPONSOR NEWSDASH LOGO May 3rd, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Tidbits
Employers on ‘Well-Being’
Also, Dust Off the DB Plan; No Alternatives; and What Are Americans Doing With Their Finances This Year?
Deals and People
Retirement Industry People Moves
LaSelle selects new DC portfolio manager; ICMA-RC hires chief legal and external affairs officer; Fifth Third Bank HSAs move to HealthEquity; and more.
Most Read
Participants
What Participants Want From Employers’ Retirement Plan Websites
Research
2021 Recordkeeping Survey
Inside Angle
DOL’s Next Moves
SPONSORED BY: FPS Group
IPX Recordkeeping: Transforming Non-ERISA Retirement Plans
Investment Provider Xchange (IPX) can transform your retirement plan by combining asset classes, including ETFs, by multiple investment providers, all on one platform.  Discover how we can help you expand the offerings in your employee retirement plan.
Economic Events
Today, the Census Bureau will report about construction spending for March, and tomorrow, it will report about factory orders for March. Thursday, the Labor Department will issue its initial claims report. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for April, and the Census Bureau will report about wholesale trade for March.
Market Mirror
Friday, the Dow lost 185.51 points (0.54%) to finish at 33,874.85, the Nasdaq closed 119.87 points (0.85%) lower at 13,962.68, and the S&P 500 decreased 30.30 points (0.72%) to 4,181.17. The Russell 2000 was down 29.01 points (1.26%) at 2,266.45, and the Wilshire 5000 fell 350.85 points (0.79%) to 43,870.10.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.628%. The price of the 30-year Treasury bond increased 2/32, bringing its yield down to 2.295%.

For the week ending April 30, the Dow lost 0.50%, the Nasdaq was up 0.02%, and the S&P 500 finished 0.39% lower. The Russell 2000 decreased 0.24%, and the Wilshire 5000 was down 0.01%.
Compliance
Auto-Enroll IRA Program Approved in NYC
The city council also voted to establish a retirement savings board to facilitate the implementation the retirement security program.
403(b) Lawsuit Targeting WakeMed Rapidly Settles
In their short-lived complaint, the plaintiffs suggested WakeMed fiduciaries have not acted prudently in the operation of the 403(b) retirement plan in question.
Small Talk
ON THIS DATE: In 1802, Washington, D.C., was incorporated as a city. In 1888, Thomas Edison organized the Edison Phonograph Works. In 1921, West Virginia imposed the first state sales tax. In 1937, Margaret Mitchell won a Pulitzer Prize for “Gone With The Wind.” In 1952, the first airplane landed at the geographic North Pole. In 1971, National Public Radio broadcast for the first time. In 2006, in Alexandria, Virginia, Al-Quaida conspirator Zacarias Moussaoui was given a sentence of life in prison for his role in the terrorist attack on the U.S. on September 11, 2001.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Have you returned to the office, and do you still have safety concerns?” Only 18.2% of responding readers reported they have returned to working in the office full-time, while 13.6% said they have returned to working in the office some days, and the same percentage indicated they have not returned to working in the office but their office is open if they want to work there. More than one-quarter (27.3%) of respondents reported they have not returned to working in the office because their offices are still closed, while 11.4% said they never stopped working in the office/never worked remotely, and 4.5% indicated they worked remotely even before the pandemic/rarely go into the office. Nearly three-fourths (72.7%) of responding readers said they have no safety concerns about going into the office. The sentiment was mixed among respondents who left comments: Some anxious to get back in the office, some thinking people should and some wanting to stay remote. One reader shared steps his/her company took to make the office environment safe. Several made the point that the move to remote work because of COVID has stopped other illnesses from spreading. Editor’s Choice goes to the reader who said: “It was always a problem that people came to work sick, and ‘shared the wealth.’ I have not had common ailments, e.g. flu, cold, etc., since I began working remote. I want to keep it that way!” Thank you to all who responded to the survey!
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