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PLANSPONSOR NEWSDASH LOGO September 20th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Participants
What Participants Want From Employers’ Retirement Plan Websites
What Participants Want From Employers’ Retirement Plan Websites
A recent study found 81% of participants have logged into their accounts, with most signing in to check account balances or review investment options.
Deals and People
Retirement Industry People Moves
Northern Trust announces hiring of new CIO; Morgan Stanley partners with Empower; and IRIC appoints executive director.
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
SPONSORED BY: FIS
Three Steps to New Growth for Retirement Plan Providers
FIS’ 2021 Readiness Report reveals the paths to new growth for retirement plan providers.
Economic Events
Tomorrow, the Census Bureau will report about housing starts for August. Wednesday, the National Association of Realtors will report about existing home sales for August. Thursday, the Labor Department will release its initial claims report, and Freddie Mac will update average mortgage rates for the week. Friday, the Census Bureau will report about new home sales for August.
Market Mirror
Friday, the Dow decreased 166.44 points (0.48%) to 34,584.88, the Nasdaq lost 137.96 points (0.91%) to finish at 15,043.97, and the S&P 500 closed 40.76 points (0.91%) lower at 4,432.99. The Russell 2000 was up 3.96 points (0.18%) at 2,236.87, and the Wilshire 5000 fell 347.57 points (0.75%) to 46,143.70.

The price of the 10-year Treasury note decreased 25/32, bringing its yield up to 1.375%. The price of the 30-year Treasury bond was down 6/32, increasing its yield to 1.909%.

For the week ending September 17, the Dow was down 0.07%, the Nasdaq lost 0.47%, and the S&P 500 fell 0.57%. The Russell 2000 increased 0.42%, and the Wilshire 5000 finished 0.43% lower.
Compliance
Nvidia ERISA Lawsuit Dismissed With Leave to Amend
Though the order shows support for the plaintiffs’ arguments regarding their Constitutional standing to sue their employer for alleged retirement plan mismanagement, the plaintiffs have failed to convince the court that discovery is warranted.
Small Talk
ON THIS DATE: In 1519, Portuguese navigator Ferdinand Magellan set sail from Spain in an effort to find a western sea route to the rich Spice Islands of Indonesia. In 1881, Chester Arthur was inaugurated as president, becoming the third person to serve as president in that year. In 1946, the first annual Cannes Film Festival opened at the resort city of Cannes on the French Riviera. In 1967, the ocean liner Queen Elizabeth 2 (QE2) was launched. In 1973, in a highly publicized “Battle of the Sexes” tennis match, top women’s player Billie Jean King, 29, beat Bobby Riggs, 55, a former No. 1 ranked men’s player. In 1995, the House of Representatives voted to drop the national speed limit. This allowed the states to decide their own speed limits.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Do you support requiring small businesses to offer a retirement plan for employees?” I also asked, “Do you support requiring a protected lifetime income solution to be offered to defined contribution plan participants?”
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