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September 21st, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
Employer costs for private industry workers averaged $27.44 per hour worked for wages and salaries and $11.47 for benefits in June 2022, according to the Bureau of Labor Statistics. Insurance costs were $2.96 per hour, accounting for 7.6% of total compensation costs.
Privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,575,000, the Census Bureau reported. This is 12.2% above the revised July estimate of 1,404,000, but is 0.1% below the August 2021 rate of 1,576,000. Single‐family housing starts in August were at a rate of 935,000; this is 3.4% above the revised July figure of 904,000. The August rate for units in buildings with five units or more was 621,000.
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| MARKET MIRROR |
Tuesday, the Dow lost 313.45 points (1.01%) to finish at 30,706.23, the Nasdaq closed 109.97 points (0.95%) lower at 11,425.05, and the S&P 500 decreased 43.96 points (1.13%) to 3,855.93. The Russell 2000 was down 25.34 points (1.40%) at 1,787.50, and the Wilshire 5000 fell 463.75 points (1.19%) to 38,558.48.
The price of the 10-year Treasury note was down 6/32, increasing its yield to 3.564%. The price of the 30-year Treasury bond fell 32/32, bringing its yield up to 3.572%.
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PROVIDER RELATIONSHIPS | OPEN ENROLLMENT
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Open Season
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Adding DC plan options to your annual offerings could up plan engagement. 
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SURVEYS
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DC Survey Now Open
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For more than 20 years, PLANSPONSOR’s annual Defined Contribution Survey has provided benchmarking data for nearly 50 industries/business sectors and for 401(k), 403(b), and other DC plans, as well as nonqualified plans. Represent your industry and plan type by participating, and you’ll receive a free benchmarking report.
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EVENTS
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What to Expect From a Retirement Plan Adviser
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Join PLANSPONSOR and a panel of experts for a webinar on September 22 as they discuss what services advisers offer to retirement plans; how plan sponsors determine the role they want their advisers to play; and questions to ask when searching for a plan adviser. Panelists will also talk about the fiduciary roles advisers can take on for the plan and the relationship between advisers and plan providers.
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In 1780, during the American Revolution, American General Benedict Arnold met with British Major John Andre to discuss handing over West Point to the British, in return for the promise of a large sum of money and a high position in the British army. The plot was foiled and Arnold, a former American hero, became synonymous with the word “traitor.” In 1792, Revolutionary France, the Legislative Assembly voted to abolish the monarchy and establish the First Republic. In 1893, Frank Duryea took what is believed to be the first gasoline-powered automobile for a test drive. The “horseless carriage” was designed by Frank and Charles Duryea. In 1897, the New York Sun ran the “Yes, Virginia, there is a Santa Claus” editorial. It was in response to a letter from 8-year-old Virginia O’Hanlon. In 1937, J.R.R. Tolkien’s “The Hobbit” was first published. In 1966, the Soviet probe Zond 5 returned to Earth. The spacecraft completed the first unmanned round-trip flight to the moon. In 1970, “NFL Monday Night Football” made its debut on ABC-TV. The game was between the Cleveland Browns and the New York Jets. The Browns won 31-21. In 1973, Henry Kissinger was confirmed by the Senate to become 56th Secretary of State. He was the first naturalized citizen to hold the office of Secretary of State. In 1981, the Senate confirmed Sandra Day O’Connor to be the first female justice on the Supreme Court. In 1996, the board of all-male Virginia Military Institute voted to admit women. In 2008, the last game at historic Yankee Stadium—”The House That Babe Ruth Built”—was played.
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| Industry Intel Roundup—Featured Webinars | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. |  | | September 19, 2024 | | Financial Wellness | | Plan sponsors, advisers and policy experts will offer suggestions for how best to define and measure the financial wellness of participants and drive financial confidence. The panel will also review how they evaluate the myriad new offerings appearing as a result of the voluntary benefits provisions of SECURE 2.0. Attendees will come away with tangible metrics for determining which programs will offer the most useful and valuable programs for their employees. |
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| | | December 12, 2024 | | Plan Benchmarking | | How do plan sponsors determine the right goals for their plans or measure plan success? What tools are available to benchmark retirement plans? What should plans be measuring and how often? What kinds of actions or improvements can measurements drive? These questions and more will be answered in PLANSPONSOR’s final editorial webinar of 2024. |
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|  | | SPONSORED BY: Principal Financial Group | June 26, 2024 | | Best practices to manage defined benefit plan costs and risks | | Defined benefit plan sponsors are faced with a myriad of challenges when assessing the impact of plan costs and risks across their organization. Join our panel of pension specialists and learn about the:
- strategies to reduce Pension Benefit Guaranty Corporation (PBGC) premiums.
- value of accurate data. - benefits of consolidating service providers.
- importance of re-examining the DB plan formula.
- advantages of hedging risk before and after a pension risk transfer. |
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|  | | SPONSORED BY: Corebridge Financial | June 20, 2024 | | The Future of Work in an Aging World | | A combination of longer life expectancy and plunging birth rates has created a very different demographic future, especially in industrialized countries. In the US, we are entering Peak 65®, the period when most of the Baby Boom generation will have already retired, and by the end of this decade, people over the age of 65 in the US will outnumber people under the age of 18 for the first time ever. Over the last century, the population over the age of 65 has grown at a rate five times faster than the total population and will continue to do so for the foreseeable future.
Other countries have begun to feel the consequences of aging long before the US. In Japan, 30% of the population is already over 65, and 10% is over 80. Countries like Japan, South Korea and Singapore have already begun to reshape work, retirement, health care, and housing rules to prepare for the “silver tsunami”.
These changes will have profound implications on everything from how we work to how and when we retire to how we think about healthy aging.
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|  | | SPONSORED BY: Newport, an Ascensus company | June 13, 2024 | | Gain the Edge: Navigating NQDC Trends | |
Recent changes in the nonqualified deferred compensation (NQDC) plan landscape present new opportunities for employers. Tap into the latest trends—and use them to your advantage.
Newport, an Ascensus company, and PLANSPONSOR have partnered to bring you the 2024 Newport/PLANSPONSOR NQDC Trends Survey. Don’t miss this year’s webinar, where our experts will share critical insights from the report.
Leveraging data from over 268 of the country’s leading employers, this report is the retirement industry’s broadest and most comprehensive employer view of NQDC plans. |
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