Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 13th, 2016
Benefits & Administration
Retirees Say Satisfying Retirement Is Possible
The vast majority of TIAA clients who are now retired say they feel satisfied with life after work, including practically everyone in the group of respondents who started saving early.Read more >
Americans Confused About Safe Retirement Withdrawal Rate
More than half of Americans older than 40 (58%) surveyed overestimated a safe withdrawal rate for assets in retirement, which many experts benchmark at 4% annually for the typical retiree.Read more >
Retirees Prefer Guaranteed Income Over Spending Down Assets
A new survey finds that retirees continue to rely extensively on sources of income that are guaranteed for life, instead of spending down non-guaranteed assets. In addition, the survey found retirees trust financial advisers and retirement plan providers most for information about annuities.Read more >
Deals and People
Voya Keeps Building Government Markets Team With Rehire
Housing Expenses Drive Spending Volatility in Retirement
Data and Research
Unplanned Financial Challenges Continue to Plague US Workers’ Retirement Savings
Products, Deals and People
The Retirement Advisor Council unveiled a new request for proposal (RFP) support tool that plan sponsors can use, free of charge, to rate responses from potential advisers, complementing other RFP process documentation and due diligence.Read more >
Market Mirror

Major U.S. stock indices closed higher Tuesday, led by big gains in oil and gas companies as energy prices climb, the Associated Press reports. The Dow gained 164.84 points (0.94%) to finish at 17,721.25, the NASDAQ closed 38.69 points (0.80%) higher at 4,872.09, and the S&P 500 increased 19.73 points (0.97%) to 2,061.72. The Russell 2000 was up 11.37 points (1.04%) at 1,105.71, and the Wilshire 5000 climbed 200.67 points (0.95%) to 21,228.87.

On the NYSE, 3.2 billion shares changed hands, with advancing issues outnumbering declining issues nearly 4 to 1. On the NASDAQ, 2.7 billion shares traded, with a near 2 to 1 lead for advancers.

The price of the 10-year Treasury note was down 13/32, increasing its yield to 1.773%. The price of the 30-year Treasury bond decreased 24/32, bringing its yield up to 2.595%.
Fidelity, Putnam Excessive Fee Cases Moved Forward
U.S. District Judge William Young of the U.S. District Court for the District of Massachusetts has denied motions to dismiss excessive fee lawsuits against Fidelity Management Trust and Putnam Investments. In a combined order, Young said that in factually complex Employee Retirement Income Security Act (ERISA) cases such as the ones against Fidelity and Putnam, dismissal is often inappropriate.Read more >
Ask the Experts
LLC Subsidiary Participation in 403(b)
“May the employees of the wholly owned LLC subsidiary of a 501(c)(3) corporation participate in the 501(c)(3) corporation’s 403(b) plan?”Read more >
The quarter that ended in March was one of the most vigorous trading periods on record for 401(k) account holders, according to Aon Hewitt.Read more >
Small Talk
Yes, public restrooms are germy, but researchers found most of those germs do not survive very long. Jack Gilbert, a microbiologist at Argonne National Laboratory in Illinois, is co-author of a 2014 study in the journal of Applied and Environmental Microbiology in which researchers tracked the microbiomes of four university restrooms over hours and days. People bring a lot of bacteria into bathrooms, but when left undisturbed, many of these bacteria quickly perished.Read more >

ON THIS DATE: In 1860, the first mail was delivered via Pony Express when a westbound rider arrived in Sacramento, California, from St. Joseph, Missouri. In 1861, after 34 hours of bombardment, the Union-held Fort Sumter surrenders to Confederates. In 1870, the Metropolitan Museum of Art was founded in New York City. In 1943, U.S. President Franklin D. Roosevelt dedicated the Jefferson Memorial. In 1954, Hank Aaron debuted with the Milwaukee Braves. In 1964, Sidney Poitier became the first black person to win an Oscar for best actor. It was for his role in the movie “Lilies of the Field.” In 1976, the U.S. Federal Reserve introduced $2 bicentennial notes. In 1997, Tiger Woods became the youngest person to win the Masters Tournament at the age of 21. He also set a record when he finished at 18 under par. In 1998, NationsBank and BankAmerica announced a $62.5 billion merger, creating the country’s first coast-to-coast bank.


WEDNESDAY WISDOM: “Even if you’re on the right track, you’ll get run over if you just sit there.”—Will Rogers, actor
Share the good 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


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