| | Benefits & Administration | | Millennials Expect to Work Past Retirement Age | | Nearly three-quarters (73%) of Millennials expect to work past age 65, acknowledging that safety nets will not be there for them in old age, and Social Security will not take care of their needs. While less than half (38%) of Americans age 35 and older have set financial goals, Millennials prove to be more pragmatic. A study by Northwestern Mutual reveals 53% of Millennials have set financial goals, and another 65% classify themselves as more inclined to save than spend. Read more > | | Global DC Plans Highlight Efficiency Trend | | A survey of Vanguard retirement plan clients operating in three or more countries shows some trends appear to be playing out the same internationally as in the U.S., including the sweeping transition from a predominantly defined benefit (DB) to a predominantly defined contribution (DC) approach to retirement benefits. International plan sponsors seem to be even harder pressed to find sufficient time and resources to manage legacy DB offerings while ensuring newer DC plans offer enough value for participants.Read more > | | | Ask the Experts | | “Since our University is currently on spring break, I
thought that I would take the time to ask the Experts a bit of a trivia
question. Is there a 403(b) plan that is generally recognized as the oldest
403(b) plan in the country? Our plan dates from the early 1960s, and I was
wondering how it stacks up in terms of longevity.”Read more > | | | Market Mirror | | Tuesday, the
Dow was down 5.43 points (0.03%) at 17,875.42, the NASDAQ decreased 7.08 points
(0.14%) to 4,910.23, and the S&P 500 closed 4.29 points (0.21%) lower at
2,076.33. The Russell 2000 fell 7.18 points (0.57%) to 1,253.36, and the
Wilshire 5000 lost 56.59 points (0.26%) to finish at 22,026.57.
On the NYSE,
3.2 billion shares changed hands, and on the NASDAQ, 2.8 billion shares traded,
with a slight lead for decliners on both exchanges.
The price of
the 10-year Treasury note was up 3/32, bringing its yield down to 1.887%. The
price of the 30-year Treasury bond increased 21/32, decreasing its yield to
2.522%.
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