Plansponsor Logo
PLANSPONSOR NEWSDASH LOGO September 14th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Awards
And the Winner Is…
And the Winner Is…
PLANSPONSOR is pleased to announce the 2020 Plan Sponsor of the Year winner in the Public Defined Contribution (DC) category—University System of Georgia. Read the expanded profile.
And the Winner Is...
PLANSPONSOR is pleased to announce the 2020 Plan Sponsor of the Year winner in the Total Retirement Offering category—Sumitomo Machinery Corp. of America. Read the expanded profile.
Most Read

2020 PLANSPONSOR National Conference
Benefits
Are Employer-Sponsored DC Plans the Best Retirement Savings Vehicles?

2020 Plan Sponsor of the Year
Economic Events
The Producer Price Index for final demand increased 0.3% in August, seasonally adjusted (SA), the U.S. Bureau of Labor Statistics (BLS) reported. Final demand prices rose 0.6% in July and fell 0.2% in June. On an unadjusted basis, the final demand index declined 0.2% for the 12 months ended in August.

In August, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4%, SA; rising 1.3% over the last 12 months, not seasonally adjusted (NSA). The index for all items less food and energy rose 0.4% in August, SA; up 1.7% over the year, NSA.

Real average hourly earnings were unchanged over the month in August, SA. Average hourly earnings increased 0.4% and CPI-U increased 0.4%. Real average weekly earnings increased 0.3% over the month.

Wednesday, the Census Bureau will report about retail sales in August and business trade in July. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about housing starts in August.
Market Mirror
Friday, the Dow closed 131.06 points (0.48%) higher at 27,655.64, the NASDAQ lost 66.05 points (0.60%) to finish at 10,853.55, and the S&P 500 was up 1.78 points (0.05%) at 3,340.97. The Russell 2000 fell 29.21 points (1.91%) to 1,497.27, and the Wilshire 5000 decreased 23.28 points (0.07%) to 34,072.78.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 0.671%. The price of the 30-year Treasury bond increased 24/32, bringing its yield down to 1.415%.

For the week ending September 11, the Dow was down 1.70%, the NASDAQ fell 4.06%, and the S&P 500 finished 2.51% lower. The Russell 2000 decreased 2.48%, and the Wilshire 5000 lost 2.57%.
Participants
Few Individuals Expected to Dip Into Retirement Accounts
Even as Congress fails to enact new relief legislation, experts say they do not suspect defined contribution (DC) plan withdrawals will rise.
Investing
Coronavirus Questions Reshape Long-Term Capital Market Assumptions
The challenges facing U.S. and global equity markets at the start of 2020 appear tame compared with present obstacles—a fact clearly demonstrated by assets managers’ updated market outlook reports.
Deals and People
Retirement Industry People Moves
Unified Trust joins EdgeCo; Putnam Investments CIO announces plans to retire in 2021; Marathon Asset Management hires senior high-yield portfolio manager; and more.
Products
Investment Product and Service Launches
Ascensus adds advice and managed accounts services; New York Life partners with Visual Capitalist on data visualization platform; American Beacon announces launch of new bond fund; and more.
Small Talk
ON THIS DATE: In 1814, Francis Scott Key penned a poem which is later set to music and in 1931 became America’s national anthem, “The Star-Spangled Banner.” In 1901, President William McKinley died eight days after being shot during the Pan-American Exposition in Buffalo, New York. In 1940, the Selective Service Act was passed by Congress providing the first peacetime draft in the United States. In 1948, in New York, a groundbreaking ceremony took place at the site of the United Nations’ world headquarters. In 1960, the Organization of the Petroleum Exporting Countries (OPEC) was founded. The core members were Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. In 1975, Elizabeth Ann Seton was canonized by Pope Paul VI at the Vatican in Rome, becoming the first American-born Catholic saint. In 1999, Disney World closed down for the first time in its 28-year history due to Hurricane Floyd heading for Florida. In 2001, the FBI released the names of the 19 suspected hijackers that had taken part in the September 11 terror attacks on the U.S.
SURVEY SAYS RESPONSES: Last week, I asked NEWSDash readers, “Did the effects of COVID increase your TV viewing time?” I also asked, “If you had extra time on your hands and didn’t increase TV viewing, what other activities did you do?” Half of responding readers said their TV viewing time did not increase during the pandemic. Three-in-10 (31.2%) said it increased, but not much, and 18.7% said it increased very much. Rather than watch TV, those who had extra time on their hands reported that they read (46.1%), started exercising or exercised more (42.3%), started cooking or cooked more (26.9%), slept more (15.4%) and started a new hobby or spent more time on an existing hobby (15.4%). Some respondents shared other activities—some fun and some not so much. Many of those who chose to leave comments expressed that work picked up during the pandemic, so they didn’t have all this “extra” time talked about on the news and social media. However, there were some who expressed appreciation for time gained back because of the lack of commute and for time they have been able to spend with their families. Editor’s Choice goes to the reader who said: “You can’t feel Spring in an office building.” A big thank you to all who participated in 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
©2020 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850