Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 25th, 2017
2017 Plan Sponsor of the Year Finalists
More Plan Sponsor of the Year Finalists Announced
PLANSPONSOR is pleased to announce finalists for 2017 Plan Sponsor of the Year in two categories. More finalists will be announced in coming days.
Announcing our 2017 Plan Sponsor of the Year finalists in the Corporate 401(k) >100MM to $250MM category. Read more >
Announcing our 2017 Plan Sponsor of the Year finalists in the Corporate 401(k) >$250MM to $1B category. Read more >
Benefits & Administration
State Retirement Plan Initiatives Have Added Bonus
A study found increased retirement savings among state citizens is correlated with reduced Medicaid expenditures. Read more >
MOST READ ARTICLES
1
Adidas Sued Over Excessive Fees for 401(k) Participants
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(b)lines Ask the Experts – Proper Delivery Method for SPDs
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Yale Sued Over Wellness Program ‘Penalty’
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Employees in Two States Miss Out on One HSA Benefit
5
Some Help for Women’s Retirement Savings Gap May Be Coming
Economic Events

Existing-home sales closed out 2016 as the best year in a decade, even as sales declined in December as the result of ongoing affordability tensions and historically low supply levels, according to the National Association of Realtors. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, finished 2016 at 5.45 million sales and surpassed 2015 (5.25 million) as the highest since 2006 (6.48 million). In December, existing sales decreased 2.8% to a seasonally adjusted annual rate of 5.49 million in December from an upwardly revised 5.65 million in November. With last month’s slide, sales are only 0.7% higher than a year ago.

Market Mirror

Tuesday, the Dow increased 112.86 points (0.57%) to 19,912.71, the NASDAQ gained 48.01 points (0.86%) to finish at 5,600.96, and the S&P 500 was up 14.87 points (0.66%) at 2,280.07. The Russell 2000 climbed 21.38 points (1.59%) to 1,369.21, and the Wilshire 5000 closed 186.30 points (0.79%) higher at 23,879.29. 

On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.9 billion shares traded, with advancing issues outnumbering declining issues more than 2 to 1 on both exchanges.

The price of the 10-year Treasury note decreased 17/32, bringing its yield up to 2.463%. The price of the 30-year Treasury bond fell 1 5/32, increasing its yield to 3.047%. 

Ask the Experts
Form 5500 Filings With Change in Plan Year
“Our hospital sponsors a large Employee Retirement Income Security Act (ERISA) 403(b) plan. We used to operate the plan on a fiscal year basis, so we would file our 5500s for a 7/1-6/30 plan year (which is our fiscal year). However, on the advice of counsel, we are converting the plan year to a calendar year, effective 1/1/2017. Thus, I realize our 5500 filing for 2017 will be for the 1/1-12/31/2017 time period, and that will not be due until 7/31/2018, unless extended. However what about the 2016 filing? Year-end is a busy time around here, and I want to make certain that no 5500 filings fall through the cracks.” Read more >
From the Magazine
Next Generations’ Plans
Corporate sponsors of defined benefit (DB) plans have been backing away from these plans for years. Since peaking in 1983 at about 26,000, U.S. pensions with over 100 participants had decreased to a few shy of 9,000 by 2014, says the U.S. Department of Labor (DOL). While growth has, admittedly, been seen in the micro end of the market, midsize and large plan sponsors have given up on defined benefit plans. And for good reason—they can be expensive and, when not properly managed, inflict volatility on the sponsor’s financial health. But, how can plan sponsors keep their plans in place? Read more >
Small Talk
More than six in 10 senior managers (63%) interviewed said their companies are very supportive of their employees’ efforts to achieve work-life balance, yet only 34% of staff agree, new research from staffing firm OfficeTeam shows. Flexible work schedules (44%) and generous vacation time or sabbaticals (33%) topped the list of perks valued most by employees. Read more >

ON THIS DATE: In 1858, Mendelssohn’s “Wedding March” was presented for the first time at the wedding of the daughter of Queen Victoria and the Crown Prince of Prussia. In 1870, G.D. Dows patented the ornamental soda fountain. In 1881, Thomas Edison, Alexander Graham Bell and others signed an agreement to organize the Oriental Telephone Company. In 1890, the United Mine Workers of America was founded. In 1915, in New York, Alexander Graham Bell spoke to his assistant in San Francisco, inaugurating the first transcontinental telephone service. In 1924, the first Winter Olympic Games were inaugurated in Chamonix in the French Alps. In 1949, the first Emmys were presented at the Hollywood Athletic Club. In 1961, John F. Kennedy presented the first live presidential news conference from Washington, D.C. The event was carried on radio and television. In 1981, the 52 Americans held hostage by Iran for 444 days arrived in the United States and were reunited with their families. In 1999, in Louisville, Kentucky, a man received the first hand transplant in the United States. In 2010, in Arlington, Texas, the International Bowling Museum and Hall of Fame had its grand opening.


WEDNESDAY WISDOM: “About the time we can make the ends meet, somebody moves the ends.”—Herbert Hoover

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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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