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PLANSPONSOR NEWSDASH LOGO October 11th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Most DB Plan Sponsors Seeking an Exit
Most DB Plan Sponsors Seeking an Exit
More pension risk transfer transactions are likely to be seen within the decade—and by more down-market plans—for a variety of reasons.
Editor’s Note
Plan Sponsor of the Year Nominations Opening Soon
We are in the process of moving to a new platform for taking Plan Sponsor of the Year nominations, but they will open soon. Please stay tuned to NewsDash for the announcement.
Most Read
Compliance
New Financial Audit Rule Increases Requirements for Plan Sponsors
Data and Research
Participants Missing the Full Match Remains a Big Problem
Compliance
Parties in Church Plan Lawsuit Finally Get Preliminary Approval of Settlement
SPONSORED BY: MetLife
How Lifetime Income Disclosures Impact Retirement
MetLife’s Roberta Rafaloff explains how retirement savings will look different to employees.
Economic Events
August sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $595.5 billion, the Census Bureau announced. This is down 1.1% from the revised July level, but is up 20.6% from the revised August 2020 level. The June to July percent change was revised from the preliminary estimate of up 2.0% to up 2.1%.

Total nonfarm payroll employment rose by 194,000 in September, and the unemployment rate fell to 4.8%, according to the Bureau of Labor Statistics. Job gains occurred in leisure and hospitality, professional and business services, retail trade and transportation and warehousing. Employment in public education declined.

Wednesday, the Bureau of Labor Statistics will reveal the consumer price index for September. Thursday, it will reveal the producer price index for September, the Labor Department will issue its initial claims report, and Freddie Mac will update average mortgage rates for the week. Friday, the Census Bureau will report about retail sales and business trade for September.
Market Mirror
Friday, the Dow was down 8.69 points (0.03%) at 34,746.25, the Nasdaq lost 74.48 points (0.51%) to finish at 14,579.54, and the S&P 500 decreased 8.42 points (0.19%) to 4,391.34. The Russell 2000 fell 17.00 points (0.76%) to 2,233.09, and the Wilshire 5000 closed 130.90 points (0.29%) lower at 45,654.53.

The price of the 10-year Treasury note decreased 24/32, bringing its yield up to 1.607%. The price of the 30-year Treasury bond fell 28/32, increasing its yield to 2.163%.

For the week ending October 8, the Dow gained 1.22%, the Nasdaq was up 0.09%, and the S&P 500 finished 0.79% higher. The Russell 2000 decreased 0.38%, and the Wilshire 5000 increased 0.65%.
Administration
K-12 Public School Employees Need Retirement and Financial Planning Help
Personalized, holistic financial education through various mediums can make up for the one-on-one provider meetings they were used to before the pandemic hit.
Rules/Regs
EBSA Clarifies Timing for Lifetime Income
The agency says it understands there may need to be a transition period if its final rule significantly differs from its interim final rule.
Deals and People
Retirement Industry People Moves
Impax appoints Ed Farrington as head of distribution for North America; Prudential forms new Prudential Retirement Strategies business; Northern Trust appoints Gary Paulin as head of global strategic solutions; and more.
SPONSORED BY: MFS
What Goes Into an ESG Rating? Deciphering the Differences in Third-Party ESG Ratings.
With the proliferation of ESG-themed funds, the number of third-party ESG ratings providers has grown, too. Learn more.
Small Talk
ON THIS DATE: In 1881, David Henderson Houston patented the first roll film for cameras. In 1890, the Daughters of the American Revolution was founded in Washington, D.C. In 1929, JCPenney opened a store in Milford, Delaware, making it a nationwide company with stores in all 48 states. In 1968, Apollo 7, the first manned Apollo mission, was launched with astronauts Walter M. Schirra, Jr.; Donn F. Eisele; and Walter Cunningham aboard. In 1975, “Saturday Night Live” was broadcast for the first time. George Carlin was the guest host. In 1975, Bruce Springsteen scored his first pop hit with “Born to Run.” In 1983, the last hand-cranked telephones in the U.S. went out of service. The 440 telephone customers of Bryant Pond, Maine, were switched to direct-dial service. In 1984, American Kathryn D. Sullivan became the first female astronaut to spacewalk. She was aboard the space shuttle Challenger. In 1994, the Colorado Supreme Court declared that the anti-gay rights measure in the state was unconstitutional. In 2002, former President Jimmy Carter won the Nobel Peace Prize “for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.”
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