| Adviser Access Important to Pre-Retirees | Having a financial adviser certainly benefits people working towards the goal of retirement, the LIMRA Secure Retirement Institute found in a survey. Forty-three percent of pre-retirees, those between the ages of 50 and 75, who have an adviser feel secure about their future retirement, compared to 21% of pre-retirees without an adviser.Read more > | Best Practices for Participant Communications Analyzed in Study | Plan sponsors are increasingly taking it upon themselves to devise their own communication strategies to engage their participants in financial as well as health wellness, according to the inaugural WorkPlace Exchange (WPE) report from Corporate Insight. The study shows use of the best practices in participant communications reliably increases enrollment, deferral rates and dialogue.Read more > | | Products, Deals and People | Asset management firm Toroso has launched a new exchange-traded fund (ETF) tracker. The Toroso ETF Industry Index allows investors to measure the performance of the wider ETF Industry including ETF sponsors, index and data companies, as well as trading and custody providers, liquidity providers and exchanges.Read more > | | Economic Events | In the week ending April 22, the advance figure for seasonally adjusted initial claims for unemployment insurance was 257,000, an increase of 14,000 from the previous week’s revised level of 243,000, the Labor Department reported. The four-week moving average was 242,250, a decrease of 500 from the previous week’s revised average of 242,750.
New orders for manufactured durable goods in March increased $1.6 billion or 0.7% to $238.7 billion, the U.S. Census Bureau announced. This increase, up three consecutive months, followed a 2.3% February increase. Excluding transportation, new orders decreased 0.2%. Excluding defense, new orders increased 0.1%. Transportation equipment, also up three consecutive months, drove the increase, $2.0 billion or 2.4% to $83.3 billion.
The average interest rate for a 30-year fixed-rate mortgage is 4.03%, up from 3.97% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.27%, up from 3.23%. | | Market Mirror | Thursday, the Dow was up 6.24 points (0.03%) at 20,981.33, the NASDAQ closed 23.71 points (0.39%) higher at 6,048.94, and the S&P 500 increased by 1.32 (0.06%) to finish at 2,388.77. The Russell 2000 was down 2.31 points (0.16%) at 1,417.12, and the Wilshire 5000 increased 6.59 points (0.03%) to 24,955.80.
On the NYSE, 3.1 billion shares traded, with a nearly even split between advancing issues and declining issues. On the NASDAQ, 2.9 billion shares changed hands, with a slight lead for decliners.
The price of the 10-year Treasury note was up 3/32, decreasing its yield to 2.298%. The price of the 30-year Treasury bond was down 3/32, increasing its yield to 2.968%. | | Compliance | Senators Introduce Bill to Address Retirement Plan Leakage | U.S. Senators Bill Nelson (D-Florida) and Mike Enzi (R-Wyoming) introduced legislation to address leakage from defined contribution (DC) retirement plans. The Shrinking Emergency Account Losses (SEAL) Act would give workers who leave their jobs up until they file their federal taxes to repay loans they’ve taken out of their defined contribution (DC) retirement plan, among other things.Read more > | | Investing | Plan Sponsors Show Concerns About Using White Labeled Funds | Plan sponsors participating in a recent PLANSPONSOR forum especially expressed concerns about transparency issues.Read more > | | Small Talk | ON THIS DATE: In 1686, the first volume of Isaac Newton’s “Principia Mathamatic” was published. In 1788, Maryland became the seventh state to ratify the U.S. constitution. In 1789, a mutiny on the British ship Bounty took place when a rebel crew took the ship and set sail to Pitcairn Island. The mutineers left Captain W. Bligh and 18 sailors adrift. In 1818, U.S. President James Monroe proclaimed naval disarmament on the Great Lakes and Lake Champlain. In 1914, W.H. Carrier patented the design of his air conditioner. In 1919, the League of Nations was founded. In 1932, the yellow fever vaccine for humans was announced. In 1952, the U.S. occupation of Japan officially ended when a treaty with the U.S. and 47 other countries went into effect. In 1967, Muhammad Ali refused induction into the U.S. Army and was stripped of his boxing title. He cited religious grounds for his refusal. In 1992, the U.S. Agriculture Department unveiled a pyramid-shaped recommended-diet chart. In 1997, a worldwide treaty to ban chemical weapons took effect. Russia and other countries such as Iraq and North Korea did not sign. In 2000, Jay Leno received a star on the Hollywood Walk of Fame.
And now it’s time for FRIDAY FILES! | This bowler will amaze you.Read more > | Why you can’t tickle yourself.Read more > | How to make a peanut butter and jelly sandwich in space.Read more > | In New South Wales, Australia, a 12-year-old boy decided he wanted to drive to Perth. He was able to drive 800 miles, even refueling the car, before being stopped by police who noticed the car’s bumper was dragging on the ground. The boy was arrested.
In Vienna, Austria, a court has ruled in favor of a man charged with a public decency crime. A year ago, a policeman ticketed the man, and the ticket said he violated “public decency with a loud belch next to a police officer.” According to the Associated Press, the court said there was “never proof” that he burped to affront the officer.
Some jobs require a person to be in good physical shape, right? In Philadelphia, Pennsylvania, police are trying to track down a man who robbed a Dunkin’ Donuts. Surveillance video caught the suspect doing stretches in the parking lot before the crime, according to CBS Philadelphia.
In Beaver Township, Ohio, police are looking for Bigfoot—actually more than one. The local NBC News station reports that the owner of Farmer Dave’s Gift Shop says someone stole three statues of the creature from outside her store. Two of the statues weighing as much as 225 pounds were mounted on pedestals. The owner says not only can’t she imagine how someone could have lifted them, she also believes they would be pretty difficult to hide.
In Fort Walton Beach, Florida, a police blotter says a 43-year-old woman, who was apparently upset that a man was playing a xylophone in the kitchen, dumped a pan of cold grease on his head. According to her arrest report, she asked him to stop and when he didn’t, she dumped the grease. The sheriff’s deputy noticed he had wet spots on his shirts and shorts and that there was a puddle of liquid on the floor near the xylophone. She was reportedly charged with assault.
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