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 >
2022 Recordkeeping Survey
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
More TDF Underperformance Lawsuits Emerge Across US
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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