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Retirement Planning Needs of Private- and Public-Sector Employees More Similar Than Different
Retirement Planning Needs of Private- and Public-Sector Employees More Similar Than Different
Yes, public employees are more likely to have pensions, but some do not get Social Security, and health care costs are increasing for everyone.
Ask the Experts
Delay of Initial e-Disclosure Notice
“I understand that the Department of Labor [DOL] recently announced that the one-time paper initial notice necessary to implement its new safe harbor on e-disclosure can be deferred due to COVID-19. Does that mean that I can just start sending covered documents electronically if I otherwise follow the new safe harbor?”
Most Read
The Growing Interest in Guaranteed Income Options
2021 Recordkeeping Survey
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
Emergency Savings Programs Boost Retirement Outcomes
Economic Events
New orders for manufactured durable goods in September increased $4.3 billion or 1.9% to $237.1 billion, the U.S. Census Bureau announced. This increase, up five consecutive months, followed a 0.4% August increase. Excluding transportation, new orders increased 0.8%. Excluding defense, new orders increased 3.4%. Transportation equipment, up four of the last five months, led the increase, $3.0 billion or 4.1% to $76.8 billion.

The Conference Board Consumer Confidence Index declined slightly in October, after increasing sharply in September. The Index now stands at 100.9 (1985=100), down from 101.3 in September. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased from 98.9 to 104.6. However, the Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—decreased from 102.9 in September to 98.4 this month.
Market Mirror
Tuesday, the Dow fell 222.19 points (0.80%) to 27,463.19, the NASDAQ increased 72.41 points (0.64%) to 11,431.35, and the S&P 500 closed 10.29 points (0.30%) lower at 3,390.68. The Russell 2000 lost 14.50 points (0.90%) to finish at 1,590.71, and the Wilshire 5000 was down 90.51 points (0.26%) at 35,033.06.

The price of the 10-year Treasury note was up 3/32, bringing its yield down to 0.775%. The price of the 30-year Treasury bond increased 31/32, decreasing its yield to 1.557%.
House Committee Introduces ‘Securing a Strong Retirement Act of 2020’
The legislation proposes expanding automatic enrollment in retirement plans, and expanding retirement savings options for nonprofit employees, among other things.
The Relationship Between Retirement Plans and HSAs
Experts at the session, held as part of the 2020 PLANSPONSOR HSA Conference, discussed incorporating health savings accounts and 401(k) plans into a holistic plan design.
Get Notified When Nominations Open
Each fall, PLANSPONSOR opens nominations for our annual Plan Sponsor of the Year and Retirement Plan Adviser of the Year awards. The best place to learn when the nominations open for these or any other awards programs is via our daily NewsDash and PLANADVISERDash email newsletters. However, if you would like to receive an email notifying you when nominations are open, please provide your information.
Small Talk
ON THIS DATE: In 1636, Harvard College was founded in Massachusetts. The original name was Court of Massachusetts Bay Colony. It was the first school of higher education in America. In 1886, the Statue of Liberty, a gift of friendship from the people of France to the people of the United States, was dedicated in New York Harbor by President Grover Cleveland. In 1919, Congress passed the Volstead Act over President Woodrow Wilson’s veto. The Volstead Act provided for the enforcement of the 18th Amendment to the U.S. Constitution, also known as the Prohibition Amendment. In 1949, President Harry Truman swore in Eugenie Moore Anderson as the U.S. ambassador to Denmark. Anderson was the first woman to hold the post of ambassador. In 1962, Soviet Premier Nikita Khrushchev ordered withdrawal of missiles from Cuba, ending the Cuban Missile Crisis. In 1965, St. Louis’s Gateway Arch was completed.
WEDNESDAY WISDOM: “You’re only here for a short visit. Don’t hurry, don’t worry. And be sure to smell the flowers along the way.”—Walter Hagen, American professional golfer
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