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PLANSPONSOR NEWSDASH LOGO September 28th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
Deals and People
Who’s Still Working for You?: ERIC
Who’s Still Working for You?: ERIC
In a series of articles, PLANSPONSOR is checking in with industry groups to see what work they have done, and will do, for retirement and health plan sponsors as the pandemic continues and beyond.
Insights
Turned Around
A claim against a plan for not using revenue sharing is a good reminder to know exactly what fees your plan pays.
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: PIMCO
Explore the Top Trends in the DC Marketplace
Get key insights on the views and trends in DC from the largest plan consultants and advisors in the 2021 PIMCO US Defined Contribution Consulting Study.
Economic Events
New orders for manufactured durable goods in August increased $4.6 billion or 1.8% to $263.5 billion, the U.S. Census Bureau announced. This increase, up 15 of the last 16 months, followed a 0.5% July increase. Excluding transportation, new orders increased 0.2%. Excluding defense, new orders increased 2.4%. Transportation equipment, up three of the last four months, led the increase, $4.2 billion or 5.5% to $80.8 billion.
Market Mirror
Yesterday, the Dow increased 71.37 points (0.21%) to 34,869.37, the Nasdaq lost 77.73 points (0.52%) to finish at 14,969.97, and the S&P 500 closed 12.37 points (0.28%) lower at 4,443.11. The Russell 2000 climbed 32.93 points (1.46%) to 2,281.00, and the Wilshire 5000 was down 61.49 points (0.13%) at 46,299.75.

The price of the 10-year Treasury note decreased 25/32, bringing its yield up to 1.485%. The price of the 30-year Treasury bond fell 26/32, increasing its yield to 2.003%.
Data and Research
Americans Increasingly Using Social Media for Help With Financial Decisions
They are also more open to using new devices to manage financial accounts, including retirement accounts, a survey finds.
Plan Sponsors and Participants Show Growing Interest in Lifetime Income Options
Seventy-nine percent of participants said they would be at least somewhat likely to roll over some of their current retirement savings into a guaranteed lifetime income solution.
SPONSORED BY: Pacific Life
Guaranteed Lifetime Income:
Join Michael Finke and Ruth Schau as they discuss the need for lifetime income solutions on The Wave Strength Webinar Series. Click here to register today!
Small Talk
ON THIS DATE: In 1781, during the Revolutionary War, American forces began the siege on Yorktown, Virginia. In 1787, Congress voted to send the new Constitution of the United States to the state legislatures for their approval. In 1789, the first Federal Congress passed a resolution that asked President George Washington to recommend to the nation a day of thanksgiving. In 1920, a Chicago grand jury indicted eight members of the Chicago White Sox on charges of fixing the 1919 World Series. In 1924, the first around-the-world flight was completed by two U.S. Army planes when they landed in Seattle, Washington. The trip took 175 days. In 1928, penicillin was discovered by Sir Alexander Fleming. In 1955, the World Series was televised in color for the first time. The game was between the New York Yankees and the Brooklyn Dodgers. In 1997, the 103rd convention of the Audio Engineering Society (AES) was held in New York City, during which the DVD (digital video disc) format was officially debuted. In 2004, the Federal Reserve and the Secret Service introduced the first newly redesigned $50 bill.

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