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2020 Plan Sponsor of the Year
2020 Plan Sponsor of the Year
Only one week left to nominate a plan sponsor for our annual Plan Sponsor of the Year awards!
Evolving Best Practices: Recordkeeping Fees
Per participant or asset-based? Each approach has its merits, but is one preferable under the Employee Retirement Income Security Act’s strict fiduciary standards?
Most Read
New Financial Audit Rule Increases Requirements for Plan Sponsors
2021 Recordkeeping Survey
Data and Research
Participants Missing the Full Match Remains a Big Problem
Products, Deals and People
Retirement Industry People Moves
Amalgamated Life Insurance Company appoints sales executive; Cohen & Steers appoints global real estate head to CIO; The Standard names TPA sales director; and more.
SPONSORED BY: retirement loan eraser
Missing Voices: What 401(k) Borrowers Can Add to the Loan Program Conversation
New research: 401(k) loans are creating financial stress for many borrowers.
Economic Events
Construction spending during September was estimated at a seasonally adjusted annual rate of $1,293.6 billion, 0.5% above the revised August estimate of $1,287.1 billion, the Census Bureau reported. The September figure is 2.0% below the September 2018 estimate of $1,319.7 billion. During the first nine months of this year, construction spending amounted to $968.7 billion, 2.2% below the $990.2 billion for the same period in 2018. Total nonfarm payroll employment rose by 128,000 in October, and the unemployment rate was little changed at 3.6, according to the Bureau of Labor Statistics. Food services and drinking places, social assistance, and financial activities added jobs. Employment fell in motor vehicles and parts manufacturing due to a strike. THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about factory orders for September. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about wholesale trade for September.
Market Mirror
Friday, the Dow gained 301.13 points (1.11%) to finish at 27,347.36, the NASDAQ closed 94.04 points (1.13%) higher at 8,386.40, and the S&P 500 increased 29.35 points (0.97%) to 3,066.91. The Russell 2000 was up 26.88 points (1.72%) at 1,589.33, and the Wilshire 5000 climbed 321.52 points (1.04%) to 31,267.15. The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.712%. The price of the 30-year Treasury bond decreased 5/32, bringing its yield up to 2.203%. WEEK’S WORTH: For the week ending November 1, the Dow increased 1.44%, the NASDAQ gained 1.74%, and the S&P 500 closed 1.47% higher. The Russell 2000 climbed 1.96%, and the Wilshire 5000 was up 1.40%.
Barry’s Pickings: Software Eats ERISA Disclosure
Michael Barry, president of O3 Plan Advisory Services LLC, contemplates whether questions asked in the DOL’s e-disclosure proposal could lead to more improvements.
Plan Profile
A Route to Better Outcomes
This plan sponsor focuses on participant wellness.
SPONSORED BY: Pavilion, a Mercer Practice
Investment Beliefs:
Governance Bedrock for Investment Committees
Small Talk
ON THIS DATE: In 1846, a patent for an artificial leg was granted to Benjamin Palmer. In 1880, James and John Ritty patented the first cash register. In 1922, in Egypt, Howard Carter discovered the entry of the lost tomb of Pharaoh Tutankhamen. In 1924, Nellie T. Ross of Wyoming was elected America’s first woman governor so she could serve out the remaining term of her late husband, William B. Ross. In 1939, at the 40th National Automobile Show the first air-conditioned car was put on display. In 1952, in the United States, the National Security Agency (NSA) was established. In 1979, Iranian militants seized the U.S. embassy in Tehran and took 63 Americans hostage (90 total hostages). The militants, mostly students, demanded that the U.S. send the former shah back to Iran to stand trial. In 1991, the Ronald Reagan presidential library in Simi Valley, California, was opened.
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