Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 6th, 2017
Benefits & Administration
In starting off Financial Literacy Month, Stash, a digital investment advisor company, has released findings revealing common misunderstandings many Americans have on investing and finance. Even though Americans, in general, continue to struggle with saving for retirement, the survey highlights several groups that can benefit from better knowledge: Millennials, women and beginner investors.Read more >
Fidelity Investments finds that health savings accounts (HSAs) are becoming more popular, according to a 2016 year-end report of its own HSA business may reflect some new trends in the wider HSA industry. But, it also found several misconceptions are keeping people from maximizing their benefits.Read more >
Not All CPA Plan Auditors Are the Same
Nearly three-quarters of CPA plan auditors handle five or fewer retirement plan audits a year, and this can lead to costly errors, according to data from more >
IRS Updates Life Expectancy Tables for Retirees
Recent TDF Performance Lawsuits Raise Insurer Ire
Ask the Experts
Should Each Recordkeeper Use Its Own Plan Document?
Auto Portability Could Boost Nation's Retirement Savings Wealth by $2T
The Employee Benefit Research Institute (EBRI) estimates if Americans were able to effortlessly, automatically roll their 401(k) balance over to a new employer every time they switch jobs, they would have an additional $2 trillion in retirement savings by age 65. EBRI has joined the Bipartisan Policy Center in calling for a national, private-sector clearinghouse that could seamlessly handle rollovers from one plan to another.Read more >
Market Mirror

Wednesday, the Dow decreased 41.09 points (0.20%) to 20,648.15, the NASDAQ closed 34.13 points (0.58%) lower at 5,864.48, and the S&P 500 was down 7.21 points (0.31%) at 2,352.95. The Russell 2000 lost 16.03 points (1.17%) to finish at 1,352.14, and the Wilshire 5000 fell 101.83 points (0.41%) to 24,476.06.

On the NYSE, 3.1 billion shares traded, with declining issues outnumbering advancing issues nearly 2 to 1. On the NASDAQ, 3.0 billion shares changed hands, with a more than 2 to 1 lead for decliners.

The price of the 10-year Treasury note was up 7/32, decreasing its yield to 2.338%. The price of the 30-year Treasury bond increased 9/32, bringing its yield down to 2.987%.
Coalition to Defend Retirement Plan Tax Incentives
As Congress grapples over ways to carry out a tax policy overhaul, one organization is determined to making sure retirement savings don’t fall within striking distance of a lawmaker’s pen. The Save Our Savings Coalition, an organization comprised of businesses and industry advocates, has formed to protect Americans’ retirement savings.Read more >
DOL Moves Forward With its 60-Day Fiduciary Rule Delay
The Department of Labor (DOL) is delaying the implementation of the fiduciary rule and related exemptions, including the Best Interest Contract (BIC) exemption, by 60 days. Thus, rather than going into effect on April 10, as it stands now, the DOL says, beginning on June 9, advisers will still have to adhere to impartial, best interest investment recommendations, charge no more than reasonable compensation for their services and refrain from making misleading statements.Read more >
Consumer Groups Plan to Bring National Attention to Fiduciary Rule
Consumer finance protection groups, including The Committee for a Fiduciary Standard and the Americans for Financial Reform, held a press conference Wednesday, vowing to fight for the fiduciary rule and to draw attention to its benefits for working Americans. Their “Retirement Ripoff Counter” shows that without the protections of the fiduciary rule, investors are losing $1.9 million an hour, $46 million a day—and $17 billion a year.Read more >
Small Talk
ON THIS DATE: In 1789, the first U.S. Congress began regular sessions at the Federal Hall in New York City. In 1862, the American Civil War Battle of Shiloh began in Tennessee. In 1865, at the Battle of Sayler’s Creek, a third of Lee’s army was cut off by Union troops pursuing him to Appomattox. In 1896, the first modern Olympic Games began in Athens, Greece. In 1909, Americans Robert Peary and Matthew Henson claimed to be the first men to reach the North Pole. In 1965, U.S. President Lyndon B. Johnson authorized the use of ground troops in combat operations in Vietnam. In 1985, William J. Schroeder became the first artificial heart recipient to be discharged from the hospital. In 1987, Sugar Ray Leonard took the middleweight title from Marvin Hagler. In 1998, Citicorp and Travelers Group announced that they would be merging. The new creation was the largest financial-services conglomerate in the world. The name would be Citigroup.
SURVEY SAYS: We recently covered a survey in which top management said a sense of humor is important in the workplace. This week, I’d like to know, which meteorological term best describes the atmosphere in your work environment? You may respond to this survey by 6 p.m. Pacific time today.Read more >
Share the news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >

Editorial: Alison Cooke Mintzer


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