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PLANSPONSOR NEWSDASH LOGO September 24th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Compliance
Lawmakers Introduce Legislation to Establish Portable Retirement Accounts
The legislation is designed to provide a retirement savings vehicle for people who don’t have access to one, but in certain cases, employers would be able to contribute to the accounts for employees.
Data and Research
Employers Are Prioritizing Financial Wellness
Studies show employers are offering access to financial products and tools, as well as financial advisers, and many plan to offer student loan debt repayment assistance. 
Most Read
Compliance
New Financial Audit Rule Increases Requirements for Plan Sponsors
Research
2021 Recordkeeping Survey
Data and Research
Participants Missing the Full Match Remains a Big Problem
SPONSORED BY: MetLife
How Lifetime Income Disclosures Impact Retirement
MetLife’s Roberta Rafaloff explains how retirement savings will look different to employees.
Economic Events
Interest on a 30-year fixed-rate mortgage (FRM) averaged 2.88% for the week ending September 23, up slightly from last week when it averaged 2.86%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.90%. Interest on a 15-year FRM averaged 2.15%, up from last week when it averaged 2.12%. A year ago at this time, the 15-year FRM averaged 2.40%.

In the week ending September 18, the advance figure for seasonally adjusted initial claims for unemployment insurance was 351,000, an increase of 16,000 from the previous week’s revised level of 335,000, the Labor Department reported. The four-week moving average was 335,750, a decrease of 750 from the previous week’s revised average of 336,500.
Market Mirror
Thursday, the Dow gained 506.50 points (1.48%) to finish at 34,764.82, the Nasdaq closed 155.40 points (1.04%) higher at 15,052.24, and the S&P 500 increased 53.34 points (1.21%) to 4,448.98. The Russell 2000 was up 40.48 points (1.82%) at 2,259.04, and the Wilshire 5000 climbed 569.51 points (1.24%) to 46,339.24.

The price of the 10-year Treasury note decreased 1 1/32, bringing its yield up to 1.434%. The price of the 30-year Treasury bond fell 3 1/32, increasing its yield to 1.950%.
Products,
MetLife Releases Mobile App for Financial Wellness
The app helps individuals prioritize goals and makes suggestions for improving financial habits.
Investment Product and Service Launches
Hartford Funds builds Commodity-Focused ETF; Northern Trust invests in Essentia Analytics; Northern Trust launches ESG ETF Suite; and more.
Small Talk
ON THIS DATE: In 1789, the Judiciary Act was passed by Congress and signed by President George Washington, establishing the Supreme Court of the United States as a tribunal made up of six justices who were to serve on the court until death or retirement. In 1934, Babe Ruth played his last game as a New York Yankee player. In 1957, President Dwight Eisenhower sent federal troops to Little Rock, Arkansas, to enforce school integration. In 1960, the first nuclear powered aircraft carrier was launched. The USS Enterprise set out from Newport News, Virginia. In 1968, CBS aired the first episode of “60 Minutes.” In 1996, the United States, represented by President Bill Clinton, and the world’s other major nuclear powers signed a Comprehensive Test Ban Treaty to end all testing and development of nuclear weapons. In 1998, the Federal Reserve released into circulation $2 billion in new harder-to-counterfeit $20 bills. In 2003, Anthony Hopkins received a star on the Hollywood Walk of Fame. In 2016, the National Museum of African American History and Culture opened on the National Mall in Washington, D.C.

And now it’s time for some FRIDAY FUN!
A baby’s attempt at beatboxing.

A puppy’s first ride with the window down.

In Jacksonville, Florida, a man walked into a car dealership to trade in a vehicle for a new one. However, when staff logged the vehicle identification number (VIN) on the man’s trade-in, they realized it was stolen from their dealership days before, according to autoblog. The “customer” admitted to police that he had stolen the vehicle.

In Thailand, taxi fleets are using the roofs of cabs sidelined by the COVID-19 as small vegetable plots. The Associated Press reports that employees from two taxi cooperatives assembled the miniature gardens this week using black plastic garbage bags stretched across bamboo frames. On top, they added soil in which a variety of crops were planted, including tomatoes, cucumbers and string beans. The action is in part to draw attention to the plight of taxi drivers and operators who have been badly hit financially by pandemic lockdown measures.

Have a safe and happy weekend!
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