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The Future of Annuities for DC Plan Participants
The Future of Annuities for DC Plan Participants
There are differences between annuities the industry wants to offer DC plan participants and those that have traditionally been offered.
Public-Sector Employees Need More Financial Education
Nearly two-thirds believe it is important to have a financial literacy program offered by their employer, and they listed the topics they would like discussed.
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
Principal Global Investors creates combined emerging markets fixed income team, and BNY Mellon presents Japan Womenomics Fund.
Economic Events
In the week ending October 26, the advance figure for seasonally adjusted initial claims for unemployment insurance was 218,000, an increase of 5,000 from the previous week’s revised level of 213,000, the Labor Department reported. The four-week moving average was 214,750, a decrease of 500 from the previous week’s revised average of 215,250.The average interest rate for a 30-year fixed-rate mortgage is 3.78%, up from 3.75% one week ago. The average interest rate for a 15-year fixed-rate mortgage is 3.19%, up from 3.18%.
Market Mirror
Thursday, the Dow lost 140.46 points (0.52%) to finish at 27,046.23, the NASDAQ was down 11.62 points (0.14%) at 8,292.36, and the S&P 500 decreased 9.21 points (0.30%) to 3,037.56. The Russell 2000 fell 10.40 points (0.66%) to 1,562.45, and the Wilshire 5000 closed 117.23 points (0.38%) lower at 30,945.76.The price of the 10-year Treasury note increased 31/32, bringing its yield down to 1.682%. The price of the 30-year Treasury bond climbed 1 30/32, decreasing its yield to 2.175%.
Greystar ERISA Fee Challenge Will Be Individually Arbitrated
Following some important appellate and Supreme Court decisions, it is “no longer good law” to presume as a general matter that ERISA class actions claims can’t be forced into individual arbitration.
Fixed Income Played Role in Increasing Institutional Investor Returns
Corporate ERISA pension plans reported the highest median return of the three segments tracked, and had the highest allocation to fixed income.
Small Talk
ON THIS DATE: In 1512, Michelangelo’s paintings on the ceiling of the Sistine Chapel were first exhibited to the public. In 1765, the British Parliament enacted The Stamp Act in the American colonies. In 1800, President John Adams became the first president to live in the White House. In 1848, the first medical school for women, founded by Samuel Gregory, opened in Boston. In 1870, the U.S. Weather Bureau made its first meteorological observations using 24 locations that provided reports via telegraph. In 1894, “Billboard Advertising” was published for the first time. It later became known as “Billboard.” In 1950, two Puerto Rican nationalists tried to assassinate President Harry Truman. One of the men was killed when they tried to force their way into Blair House in Washington, D.C. In 1952, the United States exploded the first hydrogen bomb on Eniwetok Atoll in the Marshall Islands. In 1989, tens of thousands of refugees to fled to the West when East Germany reopened its border with Czechoslovakia. In 1994, the domain name was registered. In 1998, Iridium inaugurated the first handheld, global satellite phone and paging system.
And now it’s time for FRIDAY FILES! You may read FRIDAY FILES online.
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