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| Lessons From the UK’s Retirement Plan Auto Enrollment Requirement | |
| Researchers’ findings suggest “that an equivalent reform in the United States could generate a sizeable increase in retirement plan participation, primarily among employers with fewer than 500 workers.”Read more > | |
| PLANSPONSOR Awards | |
| University of Pittsburgh | |
| An expanded profile is now available for PLANSPONSOR’s Plan Sponsor of the Year award winner in the Public Defined Contribution category.Read more > | |
| Illinois Municipal Retirement Fund | |
| An expanded profile is now available for PLANSPONSOR’s Plan Sponsor of the Year award winner in the Public Defined Benefit category.Read more > | |
| Products, Deals and People | |
| Retirement Industry People Moves | |
| Wilshire Phoenix names new partner for new division; Drinker Biddle & Reath hires new ERISA attorneys; and more.Read more > | |
| Investment Product and Service Launches | |
| Principal Financial Group launches the Principal Guaranteed Option, while Charles Schwab introduces subscription pricing for robo-advice.Read more > | |
| Economic Events | |
Sales of new single-family houses in February were at a seasonally adjusted annual rate of 667,000, the Census Bureau reported. This is 4.9% above the revised January estimate of 636,000. THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about retail sales for February, construction spending for February and business trade for January. Tomorrow, the Census Bureau will report about durable goods orders for February. Thursday, the Labor Department will issue its initial claims report. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for March. | |
| Market Mirror | |
Friday, the Dow climbed 211.22 points (0.82%) to 25,928.68, the NASDAQ closed 60.16 points (0.78%) higher at 7,729.32, and the S&P 500 increased 18.96 points (0.67%) to 2,834.40. The Russell 2000 was up 4.63 points (0.30%) at 1,539.74, and the Wilshire 5000 gained 183.15 points (0.63%) to close at 29,266.98.
The price of the 10-year Treasury note was down 5/32, increasing its yield to 2.410%. The price of the 30-year Treasury bond was up 2/32, decreasing its yield to 2.818%. WEEK’S WORTH: For the week ending March 29, the Dow gained 1.67%, the NASDAQ was up 1.13%, and the S&P 500 increased 1.20%. The Russell 2000 climbed 2.25%, and the Wilshire 5000 finished 1.24% higher. | |
| Compliance | |
| Ways and Means Committee Set to Vote on Bipartisan ‘SECURE Act’ | |
| A summary of the bill provided by the Insured Retirement Institute (IRI) says the SECURE Act contains popular measures to help Americans by “expanding opportunities to save for retirement; increasing access to lifetime income products; helping savers make more-informed decisions about their finances for retirement and enhancing features of workplace retirement plans.Read more > | |
| Senators Question a Policy Reversal to Allow Lump-Sum Payouts to Retirees | |
| Senators Patty Murray’s and Ron Wyden’s letter to the IRS and Treasury asks why employers will be permitted to offload pension liabilities and transfer risk to retirees. They request a briefing by no later than April 12.Read more > | |
| 12 Years of Litigation Deliver Final Settlement in Tussey vs. ABB | |
| The plan sponsor was previously ordered to make reforms such as using lower-cost share classes and conducting an open recordkeeping RFP; the final settlement includes $55 million in monetary compensation.Read more > | |
| Investing | |
| Amid Muted Returns, a Plan to Reshape Hedge Funds | |
| In recent years, hedge funds have not assumed sufficient risk to deliver attractive performance, but Willis Towers Watson suggests new approaches they can take to remain relevant.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1789, the U.S. House of Representatives held its first full meeting in New York City. Frederick Muhlenberg of Pennsylvania was elected the first House Speaker. In 1864, the first travel accident policy was issued to James Batterson by the Travelers Insurance Company. In 1865, at the Battle of Five Forks in Petersburg, Virginia, Gen. Robert E. Lee began his final offensive. In 1891, the William Wrigley Jr. Company was founded in Chicago. In 1929, Louie Marx introduced the Yo-Yo. In 1938, the Baseball Hall of Fame opened in Cooperstown, New York. In 1945, U.S. forces invaded Okinawa during World War II. In 1946, Weight Watchers was formed. In 1952, the Big Bang theory was proposed in “Physical Review” by Alpher, Bethe & Gamow. In 1953, Congress created the Department of Health Education and Welfare. In 1954, the Air Force Academy was formed in Colorado. In 1976, Apple Computer began operations. In 1991, the U.S. Supreme Court ruled that jurors could not be barred from serving due to their race. | |
| 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 > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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