| Products, Deals and People | NAGDCA Launches Benchmarking Portal | Public-sector defined contribution retirement plans can benchmark themselves against similar plans based on plan type, plan demographics, and plan design, as well as features, services, investments, governance, and fees.Read more > | | Economic Events | The U.S. Census Bureau announced that September sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $444.9 billion, up 0.2% from the revised August level and up 0.4% from the September 2015 level. September sales of durable goods were up 0.2% from August and were up 0.2% from a year ago. Sales of electrical and electronic goods were up 1.5% from August, while sales of hardware, plumbing and heating equipment and supplies were down 2.4%. Sales of nondurable goods were up 0.1% from August and were up 0.5% from last September. Sales of petroleum and petroleum products were up 5% from last August, while sales of farm product raw materials were down 12%.
| | Sponsored message from Vanguard | Vanguard Life-Cycle Investing Model: Building target-date portfolios
New tools from Vanguard can help determine if plan participants could benefit from a glide path designed for unique participant populations. Vanguard explains the inner workings of their proprietary model for glide path construction.
Read more > | | Market Mirror | Wednesday, the Dow closed 256.95 points (1.40%) higher at 18,589.69, the NASDAQ increased 57.58 points (1.11%) to 5,251.07, and the S&P 500 was up 23.70 points (1.11%) at 2,163.26. The Russell 2000 climbed 37.02 points (3.10%) to 1,232.16, and the Wilshire 5000 gained 311.55 points (1.41%) to finish at 22,445.12.
On the NYSE, 3.1 billion shares traded, with a slight lead for advancing issues. On the NASDAQ, 2.9 billion shares changed hands, with a near 3 to 1 lead for advancers.
The price of the 10-year Treasury note decreased 1 28/32, bringing its yield up to 2.072%. The price of the 30-year Treasury bond fell 4 20/32, increasing its yield to 2.863%.
| | Compliance | Trump Presidency Will Impact Providers' Fiduciary Rule Response | Early commentators warn anything is possible, but there may be some relief coming on the strict contract and recordkeeping requirements in the DOL fiduciary rulemaking.Read more > | | From the Magazine | New Take on ‘Top Hat’ Taxation | In June, the Internal Revenue Service (IRS) proposed long-awaited regulations expected to influence the reporting and taxation of benefits paid under 457 plans—i.e., deferred-compensation retirement plans for governmental and other tax-exempt employers. According to Kevin Selzer, a Denver-based associate at Holland & Hart LLP, it is the 457(f) changes that will likely have the biggest impact for retirement plan sponsors.Read more > | | Small Talk | ON THIS DATE: In 1775, the U.S. Marines were organized under authority of the Continental Congress. In 1801, the state of Tennessee outlawed the practice of dueling. In 1951, direct-dial, coast-to-coast telephone service began when Mayor M. Leslie Denning of Englewood, New Jersey, called his counterpart in Alameda, California. In 1954, the Iwo Jima Memorial was dedicated in Arlington, Virginia. In 1969, “Sesame Street” made its debut on PBS. In 1970, the Great Wall of China opened for tourism. In 1975, the Edmund Fitzgerald, an ore-hauling ship, and its crew of 29 vanished during a storm in Lake Superior. In 1982, in Washington, D.C., the Vietnam Veterans Memorial was opened to visitors. In 1993, the U.S. House of Representatives passed the Brady Bill, which called for a five-day waiting period for handg.un purchases. In 1996, Dan Marino (Miami Dolphins) became the first quarterback in NFL history to pass for more than 50,000 yards. In 1999, Ted Danson received a star on the Hollywood Walk of Fame. | SURVEY SAYS: Donald J. Trump was elected America’s 45th president. This week, I’d like to know, which benefit-related item do you think will be MOST affected by Trump’s presidency? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | Share the good news with a friend! Pass the NewsDash along—and tell your
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