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PLANSPONSOR NEWSDASH LOGO November 19th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
4% Withdrawal Rule Squeezed by Low Returns
4% Withdrawal Rule Squeezed by Low Returns
Research from Morningstar finds that a 3.3% starting withdrawal rate is more sustainable given today’s low bond yields and high stock valuations.
Products
Investment Product and Service Launches
Dimensional lists four fixed-income ETFs; Vontobel rolls out fixed-income strategies in the U.S.; Fidelity launches Guaranteed Income Direct; and more.
Most Read
Research
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
Economic Events
Interest on a 30-year fixed-rate mortgage (FRM) averaged 3.10% for the week ending November 18, up from last week when it averaged 2.98%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.72%. Interest on a 15-year FRM averaged 2.39%, up from last week when it averaged 2.27%. A year ago at this time, the 15-year FRM averaged 2.28%.

In the week ending November 13, the advance figure for seasonally adjusted initial claims for unemployment insurance was 268,000, a decrease of 1,000 from the previous week’s revised level of 269,000, 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 272,750, a decrease of 5,750 from the previous week’s revised average of 278,500. This is the lowest level for this average since March 14, 2020, when it was 225,500.
Market Mirror
Thursday, the Dow was down 60.10 points (0.17%) at 35,870.95, the Nasdaq closed 72.14 points (0.45%) higher at 15,993.71, and the S&P 500 increased 15.87 points (0.34%) to 4,704.54. The Russell 2000 decreased 13.42 points (0.56%) to 2,363.59, and the Wilshire 5000 was up 39.79 points (0.08%) at 48,717.45.

The price of the 10-year Treasury note and the price of the 30-year Treasury bond were both up 1/32, decreasing their yields to 1.588% and 1.971%, respectively.
Compliance
Judge Gives Plaintiffs in LinkedIn ERISA Suit Another Chance
The judge said he found deficiencies in their claims of imprudence and disloyalty related to certain investments and fees and is giving them time to correct the issues.
Small Talk
ON THIS DATE: In 1863, President Abraham Lincoln delivered his Gettysburg Address as he dedicated a national cemetery at the site of the Civil War battlefield in Pennsylvania. In 1895, the “paper pencil” was patented by Frederick E. Blaisdell. In 1959, Ford Motor Co. announced it was ending the production of the unpopular Edsel. In 1984, 20-year-old Dwight Gooden, of the New York Mets, became the youngest major-league pitcher to be named Rookie of the Year in the National League. In 1997, in Carlisle, Iowa, septuplets were born to Bobbi McCaughey. It was only the second known case where all seven were born alive. In 1998, the impeachment inquiry of President Bill Clinton began. In 2001, President George W. Bush signed the most comprehensive air security bill in U.S. history. In 2002, the U.S. government completed its takeover of security at 424 airports nationwide. In 2007, the Amazon Kindle was first released.

And now it’s time for some FRIDAY FUN!
Let’s hope some of these things don’t happen this Thanksgiving.

More Thanksgiving fun.

Near New York City, a police officer stopped a driver on the Long Island Expressway when he noticed the passenger in a car traveling in the high-occupancy vehicle (HOV) lane “didn’t look quite right,” according to UPI. The officer found that the front seat passenger was actually the front seat dressed up to look like a person with a jacket pulled over the seat and a hat and hood on the headrest. The driver was ticketed for an HOV violation.

In Dublin, Georgia, a stolen Purple Heart has been returned to a Vietnam veteran. It was stolen 38 years ago when the man lived in Florida. A man living in Brooksville, Florida, saw the Purple Heart with a $2 price tag at a yard sale, according to UPI. He used various websites to find the owner and returned it to him.

In Fort Plain, New York, a stray cat was brought into an animal shelter. The staff scanned the cat for a microchip and discovered he was from Williamsport, Pennsylvania—more than 200 miles from where he was found, UPI reports. The cat’s owners said he had been missing since early August.

Wishing everyone a safe and happy weekend!
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