| Not-for-Profit/Governmental DC Plan Market Growing | The not-for-profit (NFP)/governmental defined contribution (DC) segment represents approximately 8% of the total U.S. retirement market, a report from Cerulli Associates says. This sector includes the Federal Thrift Savings Plan (TSP), 403(b), 457, and 401(a) markets. Total NFP/governmental DC plan assets are expected to grow at a compound annual growth rate (CAGR) of 7% to reach $2.4 trillion by 2020.Read more > | | Economic Events | New orders for manufactured durable goods in March increased $1.8 billion or 0.8% to $230.7 billion, the U.S. Census Bureau announced. This increase, up two of the last three months, followed a 3.1% February decrease. Excluding transportation, new orders decreased 0.2%. Excluding defense, new orders decreased 1.0%. Transportation equipment, also up two of the last three months, drove the increase, up $2.2 billion or 2.9% to $76.0 billion.
The Conference Board Consumer Confidence Index, which had increased in March, declined moderately in April. The Index now stands at 94.2 (1985=100), down from 96.1 in March. The Present Situation Index increased from 114.9 to 116.4, while the Expectations Index decreased from 83.6 to 79.3 in April. | | Market Mirror | Major U.S. stock indices finished mostly higher Tuesday, as energy companies climbed in tandem with the price of oil, the Associated Press reports. The Dow was up 13.08 points (0.07%) at 17,990.32, the NASDAQ was down 7.48 points (0.15%) at 4,888.31, and the S&P 500 increased 3.91 points (0.19%) to 2,091.70. The Russell 2000 climbed 12.63 points (1.11%) to 1,150.72, and the Wilshire 5000 closed 60.90 points (0.28%) higher at 21,632.99.
On the NYSE, 3.1 billion shares traded with a more than 3 to 1 lead for advancers. On the NASDAQ, 2.7 billion shares changed hands, with 1.7 advancing issues for every declining issue.
The price of the 10-year Treasury note was down 4/32, increasing its yield to 1.932%. The price of the 30-year Treasury bond decreased 13/32, bringing its yield up to 2.756%. | | Compliance | Even 'Softer' Fiduciary Rule Will Challenge Providers | One veteran retirement plan adviser predicts the real impact of the new DOL fiduciary rule will take shape over the long-term—and firms’ initial attempts at compliance may not represent their final approach.Read more > | | Ask the Experts | Tips for Correctly Calculating 403(b) 15-Year Catch-Up | “We have a ton of individuals utilizing the 15-year catch-up election in our 403(b) plan, and for that and other reasons, it would not be practical to eliminate it immediately. Until such point that we can get rid of this provision, do the Experts have any suggestions to maximize our chances that the calculations will be performed correctly?”Read more > | | Investing | Investment Fees Lower in 2015 | On average, U.S. investors paid lower fund expenses in 2015 than ever before, as assets continue to flow into lower-cost index mutual funds, exchange-traded funds (ETFs), and institutional share classes, Morningstar reports.Read more > | | Small Talk | For the third year in a row, newspaper reporter came in dead last on CareerCast.com’s 28th annual Jobs Rated report. To determine the 200 best and worst jobs, the Jobs Rated report analyzed each job’s environment (emotional, physical and hours worked), income (growth potential and salary), outlook, along with 11 stress factors to determine which professions are among the most and least desirable. Human resources manager came in 12th on the list.Read more > | ON THIS DATE: In 1521, Portuguese explorer Ferdinand Magellan was killed by natives in the Philippines. In 1861, U.S. President Lincoln suspended the writ of habeas corpus. In 1861, West Virginia seceded from Virginia after Virginia seceded from the Union during the American Civil War. In 1880, Francis Clarke and M.G. Foster patented the electrical hearing aid. In 1897, Grant’s Tomb was dedicated. In 1965, “Pampers” were patented by R.C. Duncan. In 1983, Nolan Ryan (Houston Astros) broke a 55-year-old major league baseball record when he struck out his 3,509th batter of his career. In 2006, in New York City, construction began on the 1,776-foot One World Trade Center on the site of former World Trade Center.
WEDNESDAY WISDOM: “You grow up the day you have the first real laugh at yourself.”—Ethel Barrymore, actress | Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
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