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PLANSPONSOR NEWSDASH LOGO October 18th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
2021 HSA Review: Boosting HSA Participation and Engagement
2021 HSA Review: Boosting HSA Participation and Engagement
Plan sponsors can use various plan design elements and methods of communication to get employees active with their health savings accounts and help them maximize their benefits.
Save the Date
PLANSPONSOR Best Practices Conference
To help plan sponsors perform all of their fiduciary duties, PLANSPONSOR has created a virtual mini conference to address key topics in four sessions on November 10. Plan sponsors can learn what the Employee Retirement Income Security Act (ERISA) requires of them; how to best manage their retirement plan committee/s; what to expect from service providers; and how to benchmark investments and fees. For plan sponsors—whether you are new in the role or have been working with retirement plans for years—the virtual Fiduciary Best Practices Conference will help you understand, and keep an eye on, your fiduciary responsibilities. For retirement plan advisers, the conference is a way to learn how best to educate and help your plan sponsor clients stay confidently legally compliant. Registration will open soon.
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
The combined value of distributive trade sales and manufacturers’ shipments for August, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,652.4 billion, down 0.1% from July, but up 15.3% from August 2020, the Census Bureau announced.

Advance estimates of U.S. retail and food services sales for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $625.4 billion, an increase of 0.7% from the previous month, and 13.9% above September 2020, the Census Bureau reported. Total sales for the July through September period were up 14.9% from the same period a year ago. Retail trade sales were up 0.8% from August and were 12.2% above last year. Gasoline stations were up 38.2% from September 2020, while food services and drinking places were up 29.5% from last year.

Tomorrow, the Census Bureau will report about housing starts for September. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average mortgage rates for the week, and the National Association of Realtors will report about existing home sales for September.
Market Mirror
Friday, the Dow climbed 382.20 points (1.09%) to 35,294.76, the Nasdaq closed 73.91 points (0.50%) higher at 14,897.34, and the S&P 500 increased 33.11 points (0.75%) to 4,471.37. The Russell 2000 was down 8.52 points (0.37%) at 2,265.65, and the Wilshire 5000 gained 277.05 points (0.60%) to finish at 46,547.82.

The price of the 10-year Treasury note was down 5/32, increasing its yield to 1.575%. The price of the 30-year Treasury bond decreased 28/32, bringing its yield up to 2.049%.

For the week ending October 15, the Dow increased 1.58%, the Nasdaq climbed 2.18%, and the S&P 500 finished 1.82% higher. The Russell 2000 was up 1.46%, and the Wilshire 5000 gained 1.96%.
Compliance
Latest ERISA Fee Lawsuit Targets Deloitte
The plaintiffs suggest that two sizeable Deloitte retirement plans should have been able to negotiate a recordkeeping cost in the low $20 range.
Data and Research
Hispanic Workers Lag Other Groups in Retirement Savings
Plan sponsors can help address the issue by making sure workers have access to a retirement savings plan and that they’re automatically enrolled in it.
Deals and People
Retirement Industry People Moves
LGIM America hires James (Jimmy) Veneruso as senior DC strategist and T. Rowe Price names Theresa Mclaughlin as head of global marketing.
Small Talk
ON THIS DATE: In 1867, the U.S. formally took possession of Alaska after purchasing the territory from Russia for $7.2 million, or less than two cents an acre. In 1892, the first long-distance telephone line between Chicago and New York City was opened. In 1898, only one year after Spain granted Puerto Rico self-rule, American troops raised the U.S. flag over the Caribbean nation, formalizing U.S. authority over the island. In 1931, Thomas Alva Edison, one of the most prolific inventors in history, died in West Orange, New Jersey, at the age of 84. In 1967, the American League granted permission for the A’s to move to Oakland. Also, new franchises were awarded to Kansas City and Seattle. In 1972, the Clean Water Act became law. The act instituted strict regulations on pollution and quality controls for the nation’s waters for the first time in its history. In 1977, in the sixth game of the World Series against the Los Angeles Dodgers, New York Yankees outfielder Reggie Jackson hit three home runs in a row off of three consecutive pitches from three different pitchers, tying Babe Ruth’s record. In 1997, a monument honoring U.S. servicewomen, past and present, was dedicated at Arlington National Cemetery.
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