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| Financial Wellness Programs Boost Engagement and Loyalty | |
| Research suggests employers can win trust and loyalty from their employee base by, among other things, offering responsive employee benefits. Trending upward from 2017, six in 10 employees—and 69% of Millennials—now report that they’re willing to pay more to have benefits choices that meet their needs, up from 52%. One of their biggest needs is “financial wellness.” Eighty-four percent of employees describe financial wellness programs (e.g., planning, education, workshops, tools) as offerings they want or need, yet only 18% of employers currently offer them, according to MetLife.Read more > | |
| Economic Events | |
The combined value of distributive trade sales and manufacturers’ shipments for February, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,430.4 billion, up 0.4% from January and up 5.8% from February 2017, the Census Bureau announced. Advance estimates of U.S. retail and food services sales for March, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $494.6 billion, an increase of 0.6% from the previous month, and 4.5% above March 2017. Total sales for the January through March period were up 4.1% from the same period a year ago. Retail trade sales were up 0.6% from February, and 4.7% from last year. Gasoline Stations were up 9.7% from March 2017, while Nonstore Retailers were up 9.7% from last year. | |
| Market Mirror | |
Yesterday, the Dow gained 212.90 points (0.87%) to finish at 24,573.04, the NASDAQ closed 49.64 points (0.70%) higher at 7,156.29, and the S&P 500 increased 21.54 points (0.81%) to 2,677.84. The Russell 2000 was up 13.52 points (0.87%) at 1,563.03, and the Wilshire 5000 climbed 237.15 points (0.86%) to 27,797.11. The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.831%. The price of the 30-year Treasury bond decreased 3/32, bringing its yield up to 3.034%. | |
| Compliance | |
| New Conflict-of-Interest Proposal Expected from SEC | |
| As the Department of Labor (DOL) fiduciary rule process appears destined for defeat, experts speculate about the possibility that the Securities and Exchange Commission (SEC) could take its own regulatory actions to address adviser conflict of interests; some say a new SEC rule could be proposed this week.Read more > | |
| Brief in University of Pennsylvania 403(b) Lawsuit Points Out Differences From 401(k)s | |
| An amici curiae brief filed by the American Council on Education and other higher education associations details the history of higher education 403(b) plans. and argues that 403(b) lawsuits compare apples to oranges; another argues that hindsight cannot be used to challenge investment performance; and TIAA defends its products.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1521, Martin Luther was excommunicated from the Roman Catholic Church. In 1629, horses were first imported into the colonies by the American Massachusetts Bay Colony. In 1704, John Campbell published what would eventually become the first successful American newspaper. It was known as the Boston “News-Letter.” In 1861, Virginia became the eighth state to secede from the Union. In 1916, the American Academy of Arts and Letters obtained a charter from the U.S. Congress. In 1961, about 1,400 U.S.-supported Cuban exiles invaded Cuba at the Bay of Pigs in an attempt to overthrow Fidel Castro. It was an unsuccessful attack. In 1964, Jerrie Mock became the first woman to fly an airplane solo around the world. In 1964, the Ford Motor Company unveiled its new Mustang model. In 1969, in Los Angeles, Sirhan Sirhan was convicted of assassinating U.S. Senator Robert F. Kennedy. In 1970, Apollo 13 returned to Earth safely after an on-board accident with an oxygen tank. In 1993, a federal jury in Los Angeles convicted two former police officers of violating the civil rights of beaten motorist Rodney King. Two other officers were acquitted. In 1996, Erik and Lyle Menendez were sentenced to life in prison without parole for killing their parents. | |
| TRIVIAL PURSUITS: What is normal body temperature for humans?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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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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