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PLANSPONSOR NEWSDASH LOGO October 5th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Investing
An Overview of, and How to Assess, Retirement Income Options
A look at the in-plan, out-of-plan, insured and investment options available.
Events
The Importance of Social Security Education for Participants
According to the Social Security Administration’s website, Social Security will replace about 40% of an employee’s pre-retirement income after retirement, so it is an important part of retirement planning. To educate employees, plan sponsors must understand Social Security themselves. Join PLANSPONSOR and retirement industry experts during a webinar October 29 as they discuss: What plan sponsors need to know about Social Security; How plan sponsors can offer Social Security education to employees; and The importance of personalized Social Security planning for employees.
Most Read
Administration
Consider Who Is Paying When Benchmarking Retirement Plan Fees
Administration
Repositioning Financial Wellness and Retirement Benefits for 2021
Compliance
Settlement Reached in Insperity 401(k) Excessive Fee, Self-Dealing Suit
SPONSORED BY: AIG LIFE & RETIREMENT
Your Employees’ Financial Futures Are Not One-Size-Fits-All.
AIG Retirement Services has retirement solutions that are personalized for your employees’ futures.
Economic Events
New orders for manufactured durable goods in August increased $1.0 billion or 0.4% to $232.8 billion, the U.S. Census Bureau announced. This increase, up four consecutive months, followed an 11.7% July increase. Excluding transportation, new orders increased 0.4%. Excluding defense, new orders increased 0.7%. Machinery, also up four consecutive months, led the increase, $0.5 billion or 1.5% to $31.2 billion.

Total nonfarm payroll employment rose by 661,000 in September, and the unemployment rate declined to 7.9%, the Bureau of Labor Statistics reported.

Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about wholesale trade for August.
Market Mirror
Friday, the Dow decreased 134.09 points (0.48%) to 27,682.81, the NASDAQ fell 251.49 points (2.22%) to 11,075.02, and the S&P 500 lost 32.36 points (0.96%) to finish at 3,348.44. The Russell 2000 was up 8.09 points (0.53%) at 1,539.30, and the Wilshire 5000 closed 296.84 points (0.85%) lower at 34,470.82.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 0.694%. The price of the 30-year Treasury bond decreased 5/32, bringing its yield up to 1.481%.

For the week ending October 2, the Dow finished 1.87% higher, the NASDAQ was up 1.48%, and the S&P 500 increased 1.52%. The Russell 2000 climbed 4.37%, and the Wilshire 5000 gained 1.94%.
Compliance
ERISA Litigation Targets Insurance Services Office
The complaint, which includes stretches of text directly copied from previous lawsuits, says the plan sponsor’s actions were contrary to those of a reasonable fiduciary.
Awards
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.
Products
New Firm Ready to Launch 401(k) Account Search and Rollover Solution
Capitalize says its platform supports employers by helping them lower fees paid to administer their 401(k) plans and by freeing up HR time otherwise spent communicating with former employees.
Deals and People
Retirement Industry People Moves
Nova 401(k) Associates names new attorney and consultant; Lockton Pacific adds employee benefits VP and producer; and CC Capital and Motive acquire Wilshire Associates.
SPONSORED BY: AIG LIFE & RETIREMENT
Easily Manage Your Organization’s Retirement Plan With SponsorFIT®
AIG Retirement Services created SponsorFIT to help you get real-time data and insights to make more informed decisions.
Small Talk
ON THIS DATE: In 1947, President Harry Truman made the first-ever televised presidential address from the White House. In 1974, American Dave Kunst completed the first round-the-world journey on foot, taking four years and 21 pairs of shoes to complete the 14,500-mile journey across the land masses of four continents. In 1989, the Dalai Lama (Lhama Dhondrub, Tenzin Gyatso), the exiled religious and political leader of Tibet, was awarded the Nobel Peace Prize in recognition of his nonviolent campaign to end the Chinese domination of Tibet. Gyatso was the 15th Dalai Lama. In 1999, Kevin Spacey received a star on the Hollywood Walk of Fame. In 2011, Steve Jobs, the visionary co-founder of Apple Inc., died at age 56 of complications from pancreatic cancer.
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