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PLANSPONSOR NEWSDASH LOGO November 6th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Best of PSNC 2020: Structuring Your Plan for Different Participant Needs
Plan sponsors should not forget the needs of older workers when offering financial wellness and emergency savings help.
Administration
Offering the Benefit of Guaranteed Income in DC Plans
Lifetime income projections, offering more control over assets and education about annuity pricing will help participants be more receptive to in-plan annuities.
Most Read
Compliance
Effect of the Biden Administration on Health and Retirement Benefits
Compliance
Judge Certifies Sizable Class in Lawsuit Over TIAA’s Retirement Plan Loan Program
Compliance
The Basics of Terminating a DC Plan
SPONSORED BY: PIMCO
Building the Retirement Tier
The time has come for defined contribution plans to add a retirement tier – the investments, guidance and services needed…
Economic Events
Interest on a 30-year fixed-rate mortgage averaged 2.78% for the week ending November 5, down from last week when it averaged 2.81, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.69%. Interest on a 15-year fixed-rate mortgage averaged 2.32%, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.13%.

In the week ending October 31, the advance figure for seasonally adjusted initial claims for unemployment insurance was 751,000, a decrease of 7,000 from the previous week’s revised level of 758,000, the Labor Department reported. The four-week moving average was 787,000, a decrease of 4,000 from the previous week’s revised average of 791,000.
Market Mirror
Thursday, the Dow closed 542.52 points (1.95%) higher at 28,390.18, the NASDAQ gained 300.15 points (2.59%) to finish at 11,890.93, and the S&P 500 increased 67.01 points (1.95%) to 3,510.45. The Russell 2000 added 44.96 points (2.78%) to close at 1,660.05, and the Wilshire 5000 climbed 724.70 points (2.04%) to 36,268.87.

The price of the 10-year Treasury note was unchanged, with its yield up to 0.772%. The price of the 30-year Treasury bond increased 26/32, decreasing its yield to 1.529%.
Compliance
Finding the Right Plan Auditor
While implementing a request for proposals (RFP) isn’t necessary for every plan, issuing one can be a crucial step in determining a quality plan auditor.
Investing
Best of PSNC 2020: Figuring Out Fixed Income
Defined contribution plan sponsors can offer meaningful fixed income investment options by using diversification and thoughtful asset managers.
SPONSORED BY: PLANSPONSOR
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Small Talk
ON THIS DATE: In 1789, Father John Carroll was appointed as the first Roman Catholic bishop in the United States of America. In 1860, Abraham Lincoln was elected the 16th president of the United States over a deeply divided Democratic Party, becoming the first Republican to win the presidency. In 1861, Jefferson Davis was elected as the president of the Confederacy in the U.S. In 1952, the first hydrogen bomb was exploded at Eniwetok Atoll in the Pacific Ocean. In 1962, the United Nations General Assembly adopted a resolution condemning South Africa’s racist apartheid policies and calling on all its members to end economic and military relations with the country. In 1967, Phil Donahue began a TV talk show in Dayton, Ohio. The show was on the air for 29 years. In 1973, NASA’s Pioneer 10 spacecraft began photographing Jupiter. In 1990, about 20% of the Universal Studios backlot in southern California was destroyed in an arson fire.

And now it’s time for some FRIDAY FUN!
How to speak Boston, taught by Matt Damon.

The kid just wants to hear some Bruno Mars—PLEASE!

In Clayton, Wisconsin, a state trooper pulled over a driver for unsafe cargo on the roof of his car. He pulled the driver over after noticing a snowmobile strapped sideways on top of a Toyota Corolla. The driver told the trooper he had just bought the snowmobile and was driving it over to a friend’s house to show him, the Star Tribune reported. “I know it looks sketchy, but we had it strapped down and shook it,” he said. The driver was issued a warning about the hauling technique and cited for not wearing a seatbelt. [pic]

In Rabbit Hash, Kentucky, the community has a new mayor. Wilbur, a French bulldog, claimed 13,143 out of 22,985 votes in a new record, Huffington Post reports. He will be replacing Mayor Brynneth Pawltro, a pit bull who has served since 2017. The first mayor of Rabbit Hash was Goofy Borneman, a dog born of “unknown parentage” who entered office in 1998 when Boone County held a bicentennial celebration and a mayoral race for Rabbit Hash started. The community’s mayor position has been held by canines ever since.

Wishing everyone a healthy, happy weekend!
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