Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 8th, 2016
Benefits & Administration
Biases Significantly Affect Retirement Savings
Present bias and exponential-growth bias both affect how much people will save for retirement, a study finds.Read more >
Pushing the Needle on Financial Literacy
Financial literacy naturally increases with age, but retirement plan sponsors can help increase the learning process.Read more >
Products, Deals and People
Investment Product and Service Launches
LMCG Investments adds to small-cap offerings; Voya Financial expands access to its target-date mutual fund series; Fringe Benefits Design partners with Redhawk Wealth Advisors for ERISA fiduciary services.Read more >
2022 Recordkeeping Survey
IRS Updates Life Expectancy Tables for Retirees
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?
Economic Events

In the week ending April 2, the advance figure for seasonally adjusted initial claims for unemployment insurance was 267,000, a decrease of 9,000 from the previous week’s unrevised level of 276,000, the Labor Department reported. The four-week moving average was 266,750, an increase of 3,500 from the previous week’s unrevised average of 263,250.

The average interest rate for a 30-year fixed-rate mortgage is 3.59%, down from 3.71% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.88%, down from 2.98%.
Market Mirror

U.S. stock indices ended broadly lower, led by declines in banks as interest rates move lower, according to the Associated Press. The Dow lost 174.09 points (0.98%) to finish at 17,541.96, the NASDAQ closed 72.35 points (1.47%) lower at 4,848.37, and the S&P 500 decreased 24.71 points (1.20%) to 2,041.95. The Russell 2000 was down 16.03 points (1.45%) at 1,092.78, and the Wilshire 5000 fell 252.27 points (1.19%) to 21,014.61.

On the NYSE, 3.2 billion shares changed hands, with declining issues outnumbering advancing issues more than 3 to 1. On the NASDAQ, 2.7 billion shares traded, with a near 3 to 1 lead for decliners.

The price of the 10-year Treasury note increased 19/32, bringing its yield down to 1.692%. The price of the 30-year Treasury bond climbed 1 11/32, decreasing its yield to 2.521%.
QDRO Resurrected by District Court
The U.S. District Court for the Eastern District of Michigan concluded that a Domestic Relations Order Nunc Pro Tunc issued in 2014 is qualified because it is considered to date back to the 1993 divorce judgment for Ardella Patterson, who divorced from Chrysler Group employee Henry Patterson. In so doing, the court rejected Chrysler’s objection that paying Ardella now would be an increase in benefits.Read more >
What Plan Sponsors Should Know About the Fiduciary Rule
The final rule from the Department of Labor (DOL) scaled back on some requirements, but left others in place.Read more >
Factor Investing Popular Among Institutional Investors
Institutional investors are increasingly using factor investing, which takes into account economic growth, inflation and volatility, among other things.Read more >
Small Talk

ON THIS DATE: In 1513, explorer Juan Ponce de Leon claimed Florida for Spain. In 1834, in New York City, Cornelius Lawrence became the first mayor to be elected by popular vote in a city election. In 1913, the 17th Amendment was ratified, requiring direct election of senators. In 1935, the Works Progress Administration was approved by the U.S. Congress. In 1952, U.S. President Harry Truman seized steel mills to prevent a nationwide strike. In 1974, Hank Aaron hit his 715th home run breaking Babe Ruth’s record. In 1986, actor Clint Eastwood was elected mayor of Carmel, California. In 1994, smoking was banned in the Pentagon and at all U.S. military bases.


And now it’s time for FRIDAY FILES!
Dad tells son to start vacuum cleaner like lawnmower. That’s messed up, Dad.Read more >
An Australian reporter has an uninvited guest before going live.Read more >

In Oklahoma City, Oklahoma, a woman was seen scooping lettuce out of the salad bar with her hands at a pizza restaurant. Another woman told management, and an employee changed out the lettuce. When the woman again went and scooped lettuce out with her hands, the other woman told her not to do that, and the unsanitary woman punched the other woman in the face. The New York Daily News reports that she didn’t realize she was punching an off-duty police officer who was eating lunch with her children.

In New Smyrna Beach, Florida, a thief’s guilty conscience led him or her to return what was stolen—30 years later. Police received a sign saying New Smyrna Beach Says No to Drugs, along with a $50 money order. According to the Associated Press, an anonymous note suggested using the money to reinstall the sign, asked for forgiveness, and said the sign was stolen in the late 1980s during “a fit of youthful exuberance.”

In Stuart, Florida, a Sheriff’s deputy went to a business for an alarm. A Chevrolet truck was parked there, and a man approached the deputy, saying the battery to his truck died and he needed a jump start. The deputy relayed the truck’s tag to emergency dispatchers, who indicated the truck was reported stolen days earlier in Martin County. According to, the man was arrested on a grand theft auto charge.
Can you spot the design flaw of this house? Hint: follow the driveway.Read more >
Have a great weekend!
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 >

Editorial: Alison Cooke Mintzer


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