Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 19th, 2018
Webcast Event
Join us today for the 2018 Staying Ahead of the Curve – Retirement Plan Trends & Updates webcast in which panelists will discuss helping participants tackle retirement spending, among other topics. Read more >
Benefits & Administration
Consultants Support Retiree-Focused Investment Options
Defined contribution (DC) plan consultants surveyed by PIMCO offer suggestions for helping retirees with income, core investment menu design and other DC plan features. Read more >
DCIIA Policy Priorities Take Aim at the DC Plan Coverage Gap
Peg Knox, chief operating officer of Defined Contribution Institutional Investment Association (DCIIA), points to both the coverage gap and retirement income adequacy as being top of mind. She says the open multiple employer plan (MEP) idea is particularly exciting. There is also a strong fee litigation focus in the DCIIA’s priorities. Read more >
Women Say Financial Industry Caters to Men
Women may face lower pay, more work disruptions, higher longevity and higher retirement health care costs than men, a PIMCO study points out. The study shows that women are confident—equally as confident as men—in most financial tasks, such as paying bills (90%) and budgeting (84%); however, when it comes to managing investments, their confidence drops significantly. Fifty-nine percent of women report that they are not doing a good job using investing as a way to pursue their financial goals. Seven in 10 women surveyed contend that the financial services industry has traditionally catered to men. Read more >
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Employees in Two States Miss Out on One HSA Benefit
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Some Help for Women’s Retirement Savings Gap May Be Coming
Products, Deals and People
Audit Prospecting Solution Update at ERISApedia.com
A new feature of ERISApedia.com’s Employee Benefit Plan Audit Prospecting ReSource provides insight into plan auditor rotation strategies of a prospective audit provider, the firm explains. Read more >
Market Mirror

Wednesday, the Dow was down 38.56 points (0.16%) at 24,748.07, the NASDAQ closed 14.14 points (0.19%) higher at 7,295.24, and the S&P 500 was up 2.25 points (0.08%) at 2,708.64. The Russell 2000 increased 3.76 points (0.24%) to 1,583.56, and the Wilshire 5000 gained 41.86 points (0.15%) to finish at 28,141.52.

 

The price of the 10-year Treasury note decreased 11/32, bringing its yield up to 2.871%. The price of the 30-year Treasury bond fell 24/32, increasing its yield to 3.059%.

Compliance
Court Finds DB Plan Change Does Not Violate ERISA or ADEA
Northern Trust amended its benefit formula in 2012 and provided a transitional benefit that assumed salary increases of 1.5% per year, and the court found expectations of higher salary increases was not part of an “accrued benefit.” Read more >
Small Talk

ON THIS DATE: In 1764, the English Parliament banned the American colonies from printing paper money. In 1775, the American Revolution began as fighting broke out at Lexington, Massachusetts. In 1861, Thaddeus S. C. Lowe sailed 900 miles in nine hours in a hot air balloon from Cincinnati, Ohio, to Unionville, South Carolina. In 1861, President Abraham Lincoln ordered a blockade of Confederate ports. In 1897, the first annual Boston Marathon was held. In 1933, President Franklin D. Roosevelt issued a proclamation that removed the U.S. from the gold standard. In 1939, Connecticut approved the Bill of Rights for the U.S. Constitution after 148 years. In 1967, Surveyor 3 landed on the moon and began sending photos back to the U.S. In 1982, NASA named Sally Ride to be first woman astronaut. In 1982, NASA named Guion S. Bluford Jr. as the first African-American astronaut. In 1994, a Los Angeles jury awarded $3.8 million to Rodney King for violation of his civil rights. In 1995, the Alfred P. Murrah Federal Building in Oklahoma City was destroyed by a bomb.

SURVEY SAYS: More than a decade ago, when my youngest son went to the prom at his high school, I realized how much more expensive it was to attend the prom than when I did so (I won’t say how long ago that was). I recently read an article that said a teenage girl’s parents paid $1,000 to have her prom dress custom made, so prom inflation is definitely a thing. This week, I’d like to know, did you attend a prom and how much did it cost you (or your parents)? Also, for fun, do you remember the theme of your prom? You may respond to this week’s survey by 6 p.m. Pacific time today. Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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