| Webcast Event | Join us April 19 for a webcast event exclusive to plan sponsors, “2018 Staying Ahead of the Curve – Retirement Plan Trends & Updates.”Read more > | | Benefits & Administration | One-Third of Americans Say They Lack Tools and Resources to Save for Retirement | While 49% of Americans are saving for retirement, only 16% are very confident that they will have enough saved for retirement, a survey finds. Another 29% are somewhat confident, 23% are not too confident, and 21% are not confident at all. Only 49% said they have sufficient tools or resources to save for retirement.Read more > | | Products, Deals and People | EY Launches Hybrid Financial Wellness Service | EY Navigate supports users as they manage the twists and turns of their financial life journeys, breaking down complex tasks, such as retirement planning and debt management, into bite-sized activities, and also offers personal planning with EY professionals.Read more > | Vanguard Offers Framework for Establishing a Plan for Retirement | The framework helps retirees address basic living expenses, establish a contingency reserve, account for discretionary expenses, and structure a legacy.Read more > |
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| Economic Events | In March, the Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.1% seasonally adjusted (SA); rising 2.4% over the last 12 months, not seasonally adjusted (NSA), the Bureau of Labor Statistics reported. The index for all items less food and energy rose 0.2% in March, SA; up 2.1% over the year, NSA. Real average hourly earnings increased 0.4% in March, SA. Average hourly earnings increased 0.3%, and CPI-U decreased 0.1%. Real average weekly earnings increased 0.4% over the month. | | Market Mirror | Wednesday, the Dow lost 218.55 points (0.90%) to finish at 24,189.45, the NASDAQ decreased 25.28 points (0.36%) to 7,069.03, and the S&P 500 was down 14.68 points (0.55%) at 2,642.19. The Russell 2000 was up 3.37 points (0.22%) at 1,546.80, and the Wilshire 5000 closed 103.08 points (0.37%) lower at 27,467.68. The price of the 10-year Treasury note was up 6/32, decreasing its yield to 2.783%. The price of the 30-year Treasury bond increased 18/32, bringing its yield down to 2.993%. | | Industry Voices | What Plan Sponsors Need to Know About DC Plan Cybersecurity | Retirement plan sponsors that take cybersecurity seriously are less likely to see their participants’ assets and personal information affected by a successful cyberattack.Read more > | | Compliance | Judge Consolidates Franklin Templeton Self-Dealing ERISA Lawsuits, Rejects Dismissal Motions | The U.S. District Court for the Northern District of California has ruled against Franklin Templeton’s twin motions for dismissal and summary judgement of a lawsuit alleging self-dealing within the company’s defined contribution retirement plan, among other claims.Read more > | | Investing | The Benefits of the OCIO Model | Shifting responsibility of investment decision making to a discretionary manager offers a host of benefits to defined benefit plan and defined contribution plan sponsors, such as cost savings and better returns—benefits that trickle down to participants.Read more > | | Small Talk | ON THIS DATE: In 1770, the British government moved to mollify outraged colonists by repealing most of the clauses of the hated Townshend Act. Initially passed on June 29, 1767, the Townshend Act constituted an attempt by the British government to consolidate fiscal and political power over the American colonies by placing import taxes on many of the British products bought by Americans, including lead, paper, paint, glass and tea. In 1861, the bloodiest four years in American history—the Civil War—began when Confederate shore batteries under General P.G.T. Beauregard opened fire on Union-held Fort Sumter in South Carolina’s Charleston Bay. In 1945, while on a vacation in Warm Springs, Georgia, President Franklin Roosevelt suffered a stroke and died. In 1961, aboard the spacecraft Vostok 1, Soviet cosmonaut Yuri Alekseyevich Gagarin became the first human being to travel into space, as well as the first to orbit the planet. In 1954, Bill Haley and the Comets recorded “(We’re Gonna) Rock Around The Clock.” In 1981, the space shuttle Columbia is launched from Cape Canaveral, Florida, becoming the first reusable manned spacecraft to travel into space. NOTE: Yesterday’s ON THIS DATE contained a typo. The completion of the Empire State Building occurred April 11, 1931, and not 1901. | SURVEY SAYS: Many plan providers or other entities can provide peer benchmarking reports—so plan sponsors can compare their plans to those of similar type, size or in the same industry. This week, I’d like to know, does your firm/adviser perform peer benchmarking to see how your plan stacks up to others, and what would you like to know about your peer plan sponsors? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | 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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