Plansponsor Logo
PLANSPONSOR NEWSDASH LOGO October 25th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Event
PLANSPONSOR Best Practices Conference
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 from expert advisers and well-known ERISA attorneys 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. Whether you are new in the role or have been working with retirement plans for years, the conference will help you understand, and keep an eye on, your fiduciary responsibilities. Register today!
Deals and People
Retirement Industry People Moves
PGIM Fixed Income announces new head of municipal bonds; Charles Schwab announces new president; Insight Investment names head of solution design for North America; and more.
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
Tomorrow, the Census Bureau will report about new home sales for September, and Wednesday, it will report about durable goods orders for September. Thursday, the Labor Department will issue its initial claims report, and Freddie Mac will update average mortgage rates for the week.
Market Mirror
Friday, the Dow was up 73.94 points (0.21%) at 35,677.02, the Nasdaq lost 125.50 points (0.82%) to finish at 15,090.20, and the S&P 500 was down 4.88 points (0.11%) at 4,544.90. The Russell 2000 decreased 4.92 points (0.21%) to 2,291.27, and the Wilshire 5000 closed 116.30 points (0.25%) lower at 47,281.86.

The price of the 10-year Treasury note increased 27/32, bringing its yield down to 1.643%. The price of the 30-year Treasury bond climbed 1/29/32, decreasing its yield to 2.074%.

For the week ending October 22, the Dow was up 1.08%, the Nasdaq finished 1.29% higher, and the S&P 500 climbed 1.64%. The Russell 2000 increased 1.13%, and the Wilshire 5000 gained 1.58%.
Compliance
IRS Addresses Labor Shortages With FAQs About Rehiring Retirees
The agency has issued two FAQ documents addressing pension plan rules when rehiring retirees and says federal departments are holding webinars to address staff shortages in public school systems.
Another Lawsuit Challenges Plan’s Use of Asset Allocation Service
Among other things, the plaintiffs allege the GoalMaker service disfavored funds in the plan’s investment menu that did not pay kickbacks to Prudential.
Small Talk
ON THIS DATE: In 1881, Pablo Picasso, one of the most influential artists of the 20th century, was born in Malaga, Spain. In 1929, Albert B. Fall, who served as secretary of the interior in President Warren G. Harding’s cabinet, was found guilty of accepting a bribe while in office. Fall was the first individual to be convicted of a crime committed while a presidential cabinet member. In 1955, the microwave oven, for home use, was introduced by The Tappan Company. In 1962, U.S. Ambassador Adlai Stevenson presented photographic evidence of Soviet missile bases in Cuba to the United Nations Security Council. In 1962, American author John Steinbeck was awarded the Nobel Prize in literature. In 1971, the U.N. General Assembly voted to expel Taiwan and admit mainland China. In 2001, it was announced that scientists had unearthed the remains of an ancient crocodile which lived 110 million years ago. The animal, found in Gadoufaoua, Niger, grew as long as 40 feet and weighed as much as eight metric tons.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash reader, “Is your employer monitoring remote employee activity and productivity?” I also asked “How do you feel about this practice?” More than half of respondents (53%) said they don’t know if their employer is monitoring remote employee activity and productivity. Only 5% said they agree 100% with the practice. Fifty-eight percent agreed with the statement, “I think blocking certain content and applications is fine, but other monitoring is intrusive.” While there were comments on both sides of the issue, all of the few commenters made good points. For example, any monitoring should be disclosed to employees; remote employees may be working more flexible hours for various reasons, so time offline isn’t always an indication of not being productive; and there’s nothing wrong with taking time to regroup, recharge or release. Editor’s Choice goes to the reader who said: “If you don’t trust your employees, maybe you shouldn’t employ them.” A big thank you to all who completed the survey.
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2021 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850