Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 22nd, 2015
Benefits & Administration
Even NFL Players Could Use Retirement Planning Help
Initial bankruptcy filings among National Football League (NFL) players begin very soon after retirement and continue at a substantial rate through at least the first 12 years of retirement, according to a study published by the National Bureau for Economic Research (NBER). Researchers note that a career lasting six years, the median length, will provide an NFL player with more earnings than an average college graduate will get in an entire lifetime—plus a modest pension.Read more >
Americans Short on Financial, Retirement Goals
Fifty-eight percent of Americans believe their financial planning needs improvement, 21% are “not at all confident” they’ll be able to reach their financial goals, and more than one-third (34%) have not taken any steps to plan for their financial future, according to a study from Northwestern Mutual. While respondents said they are concerned about retirement, 43% have not spoken to anyone about retirement planning.Read more >
Debt Concerns Easing for Workers and Retirees
According to the 2015 Retirement Confidence Survey (RCS) from the Employee Benefit Research Institute (EBRI), 13% of workers (down from 20% in 2014) and 9% of retirees (down from 16%) report their level of debt is a major problem. An additional 38% of workers and 22% of retirees describe it as a minor problem.Read more >
Sponsored message from American Funds
Webinar Invite – Evaluate TDFs for Better Participant Outcomes Join us on May 7 as industry professionals from American Funds discuss the five most important elements of the target-date fund (TDF) selection process. Register now for this 60-minute webinar, including a live Q&A. Read more >
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Market Mirror

Yesterday, the Dow lost 85.34 points (0.47%) to finish at 17,949.59, the NASDAQ was up 19.50 points (0.39%) at 5,014.10, and the S&P 500 closed 3.11 points (0.15%) lower at 2,097.29. The Russell 2000 decreased by 0.77 (0.06%) to 1,264.15, and the Wilshire 5000 was down 23.49 points (0.11%) at 22,232.14.

 

On the NYSE, 3.2 billion shares changed hands, with a nearly even split between advancing and declining issues. On the NASDAQ, 2.8 billion shares traded, with a slight lead for decliners.

 

The price of the 10-year Treasury note was down 5/32, increasing its yield to 1.909%. The price of the 30-year Treasury bond decreased 13/32, bringing its yield up to 2.582%.

Ask the Experts
Will the DOL’s New Proposal Make Me a Fiduciary?
“As an employee benefits manager for a large nonprofit hospital, I work with our plan consultants to put together investment recommendations for our Employee Retirement Income Security Act (ERISA) 403(b) plan to the plan’s fiduciary committee. I am not a named fiduciary for the plan (the named fiduciary is the committee), and I am not a member of that committee. I do not make any decisions regarding plan investments (or any other decisions regarding the plan, for that matter), and it is not the intent of my employer that I serve as a fiduciary. However, I have read that the Department of Labor (DOL) is tinkering with a more expansive definition of fiduciary, so I am concerned about my fiduciary status. Can the Experts shed any light on my situation?”Read more >
Small Talk
Millennials Surprised by Lack of Training at Work
The “lack of company support for training and development” is the No. 1 most surprising aspect of work in the “real world” for Millennials, according to the national “Millennial Mindset Study” of 1,200 employed Millennials conducted by online training platform Mindflash. The Millennials surveyed advise college seniors to invest in their own skills training. Respondents shared areas in which they need help, skills in which they excel and which stereotypes about them are wrong.Read more >
ON THIS DATE: In 1889, at noon, thousands of would-be settlers made a mad dash into the newly opened Oklahoma Territory to claim cheap land. In 1970, Earth Day, an event to increase public awareness of the world’s environmental problems, was celebrated in the United States for the first time. In 1976, Barbara Walters became first female nightly network news anchor. In 1978, the Blues Brothers—the not-quite-real, not-quite-fake musical creation of “Saturday Night Live” cast members Dan Aykroyd and John Belushi—made their television debut. In 1993, the U.S. Holocaust Memorial Museum was dedicated in Washington, D.C. In 1994, former President Richard M. Nixon died after suffering a stroke four days earlier.
WEDNESDAY WISDOM: “Be pleasant until ten o’clock in the morning, and the rest of the day will take care of itself.” —Elbert Hubbard, American writer
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