Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 16th, 2018
Benefits & Administration
PGIM DC Leader Urges Aggressive Plan Design, Sponsor Courage
Drawing insights from across the entire Prudential Financial organization, Josh Cohen, PGIM head of defined contribution, offers some sobering statistics about the performance of defined contribution (DC) plans—as well as some strategies for broadly boosting plan performance and participant outcomes. Read more >
Millennials Foresee No Such Thing as a Comfortable Retirement
Millennials don’t share the confidence of Baby Boomers and Gen Xers that they will be financially better off than their parents, Prudential Financial learned in a survey. Eighty-eight percent of Millennials say that people in their 20s and 30s will need to work much longer than previous generations to retire with the same level of financial security. Even if they do work longer, 79% believe that by the age of 80, a comfortable retirement will be a thing of the past. Seventy percent say that is because they are unable to save as much as retirement planning tools recommend. Read more >
EEOC Sues Employer Over Forced Retirement Policy
A Southfield, Michigan-based oral surgery practice will pay $47,000 to settle an age discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC’s lawsuit charged that Professional Endodontics, P.C. violated federal law by firing Karen Ruerat four days after her 65th birthday, pursuant to a company policy which required employees to retire at age 65. Read more >
State Authorities Launch Investigation of Wells Fargo Advisors
Study Reveals Employer Innovations in Health Coverage
401(k) Nondiscrimination Tests Explained
Confusion About HSAs Remains Default Employee Position
Empower Launches ‘End-to-End’ Retirement Planning Solution
SEC Proposes Moving Public Liquidity Risk Disclosure to Annual Reports
The Securities and Exchange Commission (SEC) has proposed a change to public liquidity risk disclosure requirements for certain open-end investment management companies. The SEC had issued a pending requirement that funds publicly provide the aggregate liquidity classification profile of their portfolios on Form N-PORT on a quarterly basis. Now, the SEC is suggesting that funds discuss the operation and effectiveness of their liquidity risk management program in their annual report. Read more >
Sponsored message from Charles Schwab
No two people are the same. “One-size-fits-all” savings and investment advice may be doing less  than you think. Find out why. Read more >
Economic Events

In the week ending March 10, the advance figure for seasonally adjusted initial claims for unemployment insurance was 226,000, a decrease of 4,000 from the previous week’s revised level of 230,000, the Labor Department reported. The four-week moving average was 221,500, a decrease of 750 from the previous week’s revised average of 222,250.

The average interest rate for a 30-year fixed-rate mortgage is 4.44%, down from 4.46% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.94%, down from 3.90%.

Market Mirror

Thursday, the Dow finished 115.54 points (0.47%) higher at 24,873.66, the NASDAQ decreased 15.07 points (0.20%) to 1,481.74, and the S&P 500 was down 2.15 points (0.08%) at 2k,747.33. The Russell 2000 lost 7.69 points (0.49%) to finish at 1,576.62, and the Wilshire 5000 closed 62.27 points (0.22%) lower at 28,466.25.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 2.825%. The price of the 30-year Treasury bond was up 2/32, decreasing its yield to 3.055%.

Products, Deals and People
Investment Products and Services Launches
Hartford Funds lowers fees for six ETFs; oekom research joins ISS, renames brand; T. Rowe Price releases multi-strategy fund; and more. Read more >
Small Talk

ON THIS DATE: In 1802, Congress established the West Point Military Academy in New York. In 1836, the Republic of Texas approved a constitution. In 1850, the novel “The Scarlet Letter,” by Nathaniel Hawthorne, was published for the first time. In 1882, the Senate approved a treaty allowing the United States to join the Red Cross. In 1883, Susan Hayhurst graduated from the Philadelphia College of Pharmacy. She was the first woman pharmacy graduate. In 1915, the Federal Trade Commission began operation. In 1926, physicist Robert H. Goddard launched the first liquid-fuel rocket. In 1945, Iwo Jima was declared secure by the Allies. In 1964, U.S. President Lyndon B. Johnson submitted a $1 billion war on poverty program to Congress. In 1984, William Buckley, the CIA station chief in Beirut, was kidnapped by gunmen. He died while in captivity. In 1988, indictments were issued for Lt. Colonel Oliver North, Vice Admiral John Poindexter of the National Security Council, and two others for their involvement in the Iran-Contra affair.

SURVEY SAYS: We need more responses to our survey. Please take the time to answer, “Do you think March Madness activities in the workplace increase or decrease morale and productivity, and are these activities encouraged in your workplace?” Read more >

And now it’s time for FRIDAY FILES!


Not recommended for those who use a mobility scooter. Read more >
Not only does this take coordination, but it makes walking on the treadmill much more fun. Read more >
A new game to play with your cat—if you don’t mind a few scratches, and maybe a nibble. Read more >
Does this dog’s face look human to you? [pic] Read more >

In Marana, Arizona, a woman who apparently decided to imbibe to calm wedding-day jitters didn’t make it to the wedding—at least not on time. Police responding to an accident arrested the bride in her gown for a D.UI. The woman was booked, her blood sample extracted and she signed a criminal citation to appear in court later, reports say. She was released to her fiance. There was no report of whether the two went ahead with the wedding.


In Miami Beach, the city shut down a nightclub after video shows a horse being ridden onto the dance floor. A video on social media, shows a man trying to pull the reluctant horse into the club, with a man and woman riding the animal. A second video shows only the woman—dressed in a bikini—riding on the animal amid a tight crowd of people. The horse threw the woman off and continued walking through the crowd. A city press release cites the incident as being a hazard to public safety and possible animal cruelty.


In Boston, Massachusetts, a police department wagon got stuck on a snow bank, but a heroine (of sorts) was nearby to help. A 37-year-old attorney dressed as Elsa from “Frozen” emerged from a nearby bar to help push the vehicle out. The Boston Globe reported that the man purchased the getup last winter and put it on that night to entertain his friends.


In Fayetteville, North Carolina, a veteran’s wife realized something was wrong when a monthly disabilities payment was not deposited in her and her husband’s bank account. They were surprised to learn that the husband had been declared dead by the Veterans Affairs Department last month. A death certificate for someone with the same name was filed in January. According to the Fayetteville Observer, the VA says the mistake has been corrected.


Wishing everyone a happy weekend!

Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy. Read more >

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

Subscribe to NEWSDash, click here .

To unsubscribe, click here.

BrightScope / CIO / FWW / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund