Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 18th, 2019
Benefits & Administration
Gen X Struggling Most With Retirement Readiness and Confidence
“What is ‘Retirement’? Three Generations Prepare for Older Age,” prepared by the Transamerica Center for Retirement Studies, compared the retirement outlook of Baby Boomers, Generation X and Millennials and found among Generation X—the first generation to have had access to 401(k) plans for the majority of their working careers—some have taken loans and early withdrawals (32%), their retirement confidence is lacking, and many are behind on their savings. However, among all age groups, the most frequently cited retirement fear is outliving savings. Read more >
Actionable Steps Engage Employees in Financial Wellness Programs
Meredith Ryan Reid, with MetLife, says the human element is also really important. Read more >
Products, Deals and People
WEX Health HSAs Added to MassMutual Wellness Platform
Massachusetts Mutual Life Insurance Co. (MassMutual) is expanding its wealth accumulation and protection benefits at the workplace by making health savings accounts (HSAs) available on its MapMyFinances financial wellness tool. The HSAs are powered by WEX Health Inc. Read more >
MOST READ ARTICLES
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IRS Releases 2019-2020 Priority Guidance Plan
Economic Events

February 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 $495.9 billion, up 0.3% from the revised January level and up 2.1% from the February 2018 level. The December 2018 to January 2019 percent change was revised from the Monthly Wholesale Annual Revision Report estimate of up 0.4% to up 0.5%.

Market Mirror

Wednesday, the Dow slipped 3.12 points (0.01%) to 26,449.54, the NASDAQ was down 4.15 points (0.05%) at 7,996.08, and the S&P 500 decreased 6.61 points (0.23%) to 2,900.45. The Russell 2000 lost 15.19 points (0.96%) to finish at 1,567.60, and the Wilshire 5000 closed 104.22 points (0.35%) lower at 29,943.43.

 

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.590%. The price of the 30-year Treasury bond increased 3/32, bringing its yield down to 2.991%.

Compliance
Court Denies Summary Judgement in SafeWay ERISA Lawsuits
The court has ruled that the litigation can proceed to trial because SafeWay’s summary dismissal argument that the plaintiffs’ case is premised entirely on hindsight “misses the point.” Read more >
Senators Introduce Legislation to Further AHPs
Last June, the Department of Labor (DOL) finalized regulations to expand the opportunity to offer employment-based health insurance to small businesses through Association Health Plans (AHPs), but a district court struck them down. Read more >
Small Talk

ON THIS DATE: In 1775, American revolutionaries Paul Revere, William Dawes and Samuel Prescott rode though the towns of Massachusetts giving the warning that the Regulars were coming out. In 1847, U.S. troops defeated almost 17,000 Mexican soldiers commanded by Santa Anna at Cerro Gordo during the Mexican-American War. In 1923, Yankee Stadium opened in the Bronx, New York. The Yankees beat the Boston Red Sox 4-1. John Phillip Sousa’s band played the National Anthem. In 1924, Simon and Schuster, Inc. published the first “Crossword Puzzle Book.” In 1934, the first laundromat opened in Fort Worth, Texas. In 1938, Superman made his debut when he appeared in the first issue of Action Comics. In 1942, James H. Doolittle and his squadron, from the USS Hornet, raided Tokyo and other Japanese cities. In 1943, traveling in a bomber, Japanese Admiral Isoroku Yamamoto, was shot down by American P-38 fighters. In 1946, the League of Nations was dissolved. In 1949, the Republic of Ireland was established. In 1978, the Senate approved the December 31, 1999, transfer of the Panama Canal to Panama. In 1999, Wayne Gretzky (New York Rangers) played his final game in the NHL. He retired as the NHL’s all-time leading scorer and holder of 61 individual records.

SURVEY SAYS: We covered a survey that found most employers believe they do a good job at recognizing employees for performance. This week, I’d like to know, is your company good at showing appreciation for your work? And, what types of recognition do you like to receive from your employer? You may respond to this survey by 6 p.m. Pacific time today. Read more >

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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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