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PLANSPONSOR NEWSDASH LOGO October 22nd, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Financial Wellness | Student Loan Debt
Take a Load Off
Take a Load Off
Employers help workers burdened with student debt.
Data and Research
The Problem of ‘Narrow Framing,’ and Its Impact on Retirement
Shlomo Benartzi, professor emeritus at the University of California, says giving employees a holistic view of their financial lives helps them effectively allocate income.
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 3.09% for the week ending October 21, up from last week when it averaged 3.05%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.80%. Interest on a 15-year FRM averaged 2.33%, up from last week when it averaged 2.30%. A year ago at this time, the 15-year FRM averaged 2.33%.

In the week ending October 16, the advance figure for seasonally adjusted initial claims for unemployment insurance was 290,000, a decrease of 6,000 from the previous week’s revised level of 296,000, 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 319,750, a decrease of 15,250 from the previous week’s revised average of 335,000. This is the lowest level for this average since March 14, 2020, when it was 225,500.

Existing-home sales rebounded in September after seeing sales wane the previous month, according to the National Association of Realtors. Each of the four major U.S. regions witnessed increases on a month-over-month basis. From a year-over-year timeframe, one region held steady while the three others each reported a decline in sales. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 7.0% from August to a seasonally adjusted annual rate of 6.29 million in September. However, sales decreased 2.3% from a year ago (6.44 million in September 2020).
Market Mirror
Thursday, the Dow was down 6.26 points (0.02%) at 35,603.08, the Nasdaq gained 94.02 points (0.62%) to finish at 15,215.70, and the S&P 500 increased 13.59 points (0.30%) to 4,549.78. The Russell 2000 was up 6.42 points (0.28%) at 2,296.18, and the Wilshire 5000 closed 162.63 points (0.34%) higher at 47,398.15.

The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.692%. The price of the 30-year Treasury bond decreased 23/32, bringing its yield up to 2.142%.
Products
Investment Product and Service Launches
ProShares launches first U.S. Bitcoin-linked ETF; Pacific Life introduces defined outcome funds with variable annuities; and Nationwide, Capital Group introduce new TDF.
BPAS Introduces New Tool to Prevent Benefit Account Fraud
The BPAStify tool uses a live video identity verification process.
Small Talk
SURVEY SAYS: A survey has found 60% of companies with employees who work remotely are using monitoring software to track employee activity and productivity. They are doing so by using software that monitors web browsing and application use, captures random screenshots, blocks content and applications and/or logs keystrokes. This week, I’d like to know, is your employer monitoring remote employee activity and productivity, and how do you feel about this practice? You may respond to this week’s survey by 6 p.m. Pacific time today. All responses are anonymous.
ON THIS DATE: In 1746, the College of New Jersey was officially chartered. It later became known as Princeton University. In 1939, the first televised pro football game was telecast from New York. Brooklyn defeated Philadelphia 23-14. In 1950, the Los Angeles Rams set an NFL record by defeating the Baltimore Colts 70-27. It was a record score for a regular season game. In 1962, President John Kennedy went on radio and television to inform the United States about his order to send U.S. forces to blockade Cuba. The blockade was in response to the discovery of Soviet missile bases on the island. In 1965, President Lyndon B. Johnson signed the Highway Beautification Act, which attempted to limit billboards and other forms of outdoor advertising, as well as junkyards and other unsightly roadside messes, along America’s interstate highways. In 1968, Apollo 7 splashed down in the Atlantic Ocean. The spacecraft had orbited the Earth 163 times. In 1986, President Ronald Reagan signed the Tax Reform Act of 1986 into law.

And now it’s time for some FRIDAY FUN!
Trimming a dog’s nails can be a “dramatic” experience.

Baby digs the piano.

In Leesburg, Florida, a man who won $1 million with a lottery scratch off ticket has humble plans for the winnings. “I’m just looking forward to upgrading to an electric toothbrush and splurging on a good pair of flip flops,” the man told lottery officials, according to a news release.

Have a great weekend!
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