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PLANSPONSOR NEWSDASH LOGO October 8th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Data and Research
Communicating About HSAs a Top Concern for Employers
Communicating About HSAs a Top Concern for Employers
Employers have misconceptions about health savings accounts as well, but the right providers can help with education and optimizing the benefit based on employees’ needs.
Compliance
TriHealth ERISA Dispute Dismissed
While the size and structure of retirement plans are relevant to the reasonableness of the administrative fees they pay, similarly relevant is the scope of the services offered in exchange for those fees.
Most Read
Compliance
New Financial Audit Rule Increases Requirements for Plan Sponsors
Data and Research
Participants Missing the Full Match Remains a Big Problem
Compliance
Parties in Church Plan Lawsuit Finally Get Preliminary Approval of Settlement
Economic Events
Interest on a 30-year fixed-rate mortgage (FRM) averaged 2.99% for the week ending October 7, down slightly from last week when it averaged 3.01%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.87%. Interest on a 15-year FRM averaged 2.23%, down from last week when it averaged 2.28%. A year ago at this time, the 15-year FRM averaged 2.37%.

In the week ending October 2, the advance figure for seasonally adjusted initial claims for unemployment insurance was 326,000, a decrease of 38,000 from the previous week’s revised level of 364,000, the Labor Department reported. The four-week moving average was 344,000, an increase of 3,500 from the previous week’s revised average of 340,500.
Market Mirror
Thursday, the Dow gained 337.95 points (0.98%) to finish at 34,754.94, the Nasdaq closed 152.11 points (1.05%) higher at 14,654.02, and the S&P 500 was up 36.21 points (0.83%) at 4,399.76. The Russell 2000 increased 35.14 points (1.59%) to 2,250.09, and the Wilshire 5000 climbed 439.20 points (0.97%) to 45,785.45.

The price of the 10-year Treasury note decreased 5/32, bringing its yield up to 1.576%. The price of the 30-year Treasury bond fell 1 1/32, increasing its yield to 2.134%.
Rules/Regs
More From Washington and the Courts
403(b) universal availability requirements; uncashed checks; Form 5500 filing for plans adopted retroactively; and more.
Products
Investment Product and Service Launches
Victory Capital expands VictoryShares ETF offerings; RetireOne and Midland National launch portfolio retirement income guarantee solution; Transamerica broadens availability of stable value option; and more.
Small Talk
ON THIS DATE: In 1871, flames sparked in the Chicago barn of Patrick and Catherine O’Leary, igniting a two-day blaze that killed between 200 and 300 people, destroyed 17,450 buildings, left 100,000 homeless and caused an estimated $200 million (in 1871 dollars; roughly $4 billion in 2021 dollars) in damages. In 1956, Don Larsen of the New York Yankees throws the only perfect game in World Series history. In 1957, the Brooklyn Baseball Club announced that it had accepted a deal to move the Dodgers to Los Angeles. In 1993, the U.S. government issued a report absolving the FBI of any wrongdoing in its final assault in Waco, Texas, on the Branch Davidian compound. In 2001, the Office of Homeland Security was founded. Tom Ridge, former Governor of Pennsylvania, was sworn in as director. In 2003, Vietnam and the United States reached a tentative agreement that would allow the first commercial flights between the two countries since the end of the Vietnam War. In 2003, it was announced that Vivendi Universal and General Electric Co. had reached an agreement to merge. The name for the combined company was NBC Universal.

And now it’s time for some FRIDAY FUN!
This would be my level of trust on a glass bridge.

Monkey see, monkey do. The pandemic version.

In Inegol, Turkey, after a man went drinking with a friend and did not return home, his wife reported him missing. Officers and rescue teams were called in to find him. The Associated Press reports that the next morning, the man came across members of the search party and decided to help them find the missing person. He realized he was the focus of the search when some people began calling out his name. The man had gone to sleep in a house in the forest.

Wishing everyone a safe and happy weekend!
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