Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 23rd, 2019
Benefits & Administration
Social Security Depletion Date Unchanged
The Social Security Board of Trustees says the Old-Age and Survivors Insurance (OASI) Trust Fund is projected to become depleted in 2034, the same as last year’s estimate, with 77% of benefits payable at that time.Read more >
Wellness Programs May Not Deliver Cost Savings in the Short Term
A trial among a large group of employees found a couple of positive self-reported outcomes by participants after 18 months of using a wellness program, but measures of health improvements and employer cost savings were not significant.Read more >
Employees Rely on Employers for Financial Advice
Working with recordkeepers that offer financial wellness programs can help a market of plan participants underserved by individual retirement advisers.Read more >
What Participants Want From Employers’ Retirement Plan Websites
2021 Recordkeeping Survey
DOL’s Next Moves
Allowing for After-Tax Contributions in a 401(a) Plan
Retirement Industry People Moves
Sponsored message from UMB Healthcare Services
HSAs Shine Brightly in the Retirement Savings Universe
In the universe of retirement options, there are a lot of stars-401(k), 403(b), 457s, IRAs, and Roth IRAs. While each of these retirement savings options offers its own distinct advantages, shining brightest among them in the retirement stratosphere is the often-overlooked HSA.Read more >
Economic Events
Existing-home sales retreated in March, following February’s surge of sales, according to the National Association of Realtors. Each of the four major U.S. regions saw a drop-off in sales, with the Midwest enduring the largest decline last month. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 4.9% from February to a seasonally adjusted annual rate of 5.21 million in March. Sales as a whole are down 5.4% from a year ago (5.51 million in March 2018).
Market Mirror

Monday, the Dow dropped 48.49 points (0.18%) to finish at 26,511.05, the NASDAQ was up 17.21 points (0.22%) at 8,015.27, and the S&P 500 closed 2.94 points (0.10%) higher at 2,907.97. The Russell 2000 was down 5.70 points (0.36%) at 1,560.05, and the Wilshire 5000 increased 28.96 points (0.10%) to 30,010.08.


The price of the 10-year Treasury note was nearly unchanged, with its yield at 2.580%. The price of the 30-year Treasury bond was also nearly unchanged, putting its yield at 2.990%.
Council Makes Recommendations for Including Lifetime Income Options in QDIAs
The ERISA Advisory Council’s recommendations to the Department of Labor (DOL) include publishing guidance confirming that a named plan fiduciary may appoint a 3(38) investment manager to select and monitor annuity and other lifetime income providers, as well as modifying qualified default investment alternative (QDIA) regulations.Read more >
Multiemployer 401(k) Plan Settles Excessive Fee Suit
Parties in a lawsuit accusing the Board of Trustees of the Supplemental Income 401(k) Plan of not using its bargaining power to obtain lower investment and recordkeeping fees have agreed to a settlement. The union plan’s board of trustees has agreed to pay $8.75 million and issue a request for proposals for recordkeeping and administrative services.Read more >
DOL Fiduciary Responsibilities Seminar Coming to Detroit and Delaware
They are designed to increase plan sponsors’ and advisers’ awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.Read more >
Annuities Are for Savers and Spenders
In his experience leading Principal’s retirement income solutions business, Sri Reddy says, the No. 1 thing people get wrong about annuities is to say that purchasers of such products are investors.Read more >
Small Talk
ON THIS DATE: In 1789, President George Washington moved into Franklin House, New York. It was the first executive mansion. In 1872, Charlotte E. Ray became the first African-American woman lawyer. In 1908, President Theodore Roosevelt signed an act creating the U.S. Army Reserve. In 1954, Hank Aaron of the Milwaukee Braves hit his first major-league home run. In 1968, the Methodist Church and the Evangelical United Brethren Church merged to form the United Methodist Church. In 1985, the Coca-Cola Company announced that it was changing its 99-year-old secret formula. New Coke was not successful, which resulted in the resumption of selling the original version. In 1989, Kareem Abdul-Jabbar played his last regular season game in the NBA. In 2005, the first video was uploaded to
TRIVIAL PURSUITS: From where did the idiom “saved by the Bell” originate?Read more >
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Editorial: Alison Cooke Mintzer


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