Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 9th, 2019
Benefits & Administration
Baby Boomers, Insufficiently Prepared for Retirement, Need Access to Advisers
To kick off National Retirement Planning Week, the Insured Retirement Institute (IRI) hosted a media call during which Frank O’Connor, vice president, research at IRI, noted that in 2011, when the IRI first conducted its survey of Boomer expectations for retirement, 75% had retirement savings. Today, only 55% of Boomers have retirement savings, and among this group, half have less than $250,000 put away. The IRI also found that financial advisers and individuals are not considering the effects of health care costs and long-term care in planning for retirement.Read more >
Kimley-Horn and Associates, Inc.
An expanded profile is now available for PLANSPONSOR’s Plan Sponsor of the Year award winner in the Corporate 401(k) >$500MM category.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?
Products, Deals and People
Paychex Enhances 401(k) Plan Participant Website
New features include a simplified enrollment process and ability to set automatic contribution increases.Read more >
Economic Events
New orders for manufactured durable goods in February decreased $4.2 billion or 1.6% to $250.6 billion, the U.S. Census Bureau announced. This decrease, down following three consecutive monthly increases, followed a 0.1% January increase. Excluding transportation, new orders increased 0.1%. Excluding defense, new orders decreased 1.9%. Transportation equipment, also down following three consecutive monthly increases, drove the decrease, $4.3 billion or 4.8% to $86.0 billion.
Market Mirror

Monday, the Dow was down 83.97 points (0.32%) at 26,341.02, the NASDAQ gained 15.19 points (0.19%) to finish at 7,953.88, and the S&P 500 increased 3.03 points (0.10%) to 2,895.77. The Russell 2000 fell 3.55 points (0.22%) to 1,579.00, and the Wilshire 5000 closed 21.87 points (0.07%) higher at 29,908.91.


The price of the 10-year Treasury note was down 8/32, increasing its yield to 2.522%. The price of the 30-year Treasury bond decreased 11/32, bringing its up to 2.923%.
Fidelity Faces Another ‘Pay-to-Play’ Lawsuit
Fidelity faces a third lawsuit alleging the company collects “secret kickback payments” from mutual fund providers on its recordkeeping platform—claims the company strongly denies.Read more >
Plaintiffs in Chevron Case Ask Supreme Court to Review ERISA Pleading Standards
Participants in Chevron’s DC plan say the 9th Circuit applied unnecessarily high pleading standards, “precluding petitioners from pursuing claims that have been recognized as sufficiently plead in other circuits.”Read more >
Small Talk
ON THIS DATE: In 1682, Robert La Salle claimed the lower Mississippi River and all lands that touch it for France. In 1833, Peterborough, New Hampshire, opened the first municipally supported public library in the United States. In 1865, in Appomattox, Virginia, General Robert E. Lee surrendered his Confederate Army to Union General Ulysses S. Grant in the parlor of Wilmer McClean’s home. In 1867, the Senate ratified the treaty with Russia that purchased the territory of Alaska. In 1913, the Brooklyn Dodgers’ Ebbets Field opened. In 1928, Mae West made her debut on Broadway in the production of “Diamond Lil.” In 1942, in the Battle of Bataan, American and Filipino forces were overwhelmed by the Japanese Army. In 1950, Bob Hope made his first television appearance on “Star-Spangled Review” on NBC-TV. In 1959, NASA announced the selection of America’s first seven astronauts. In 1963, British Prime Minister Winston Churchill became the first honorary U.S. citizen. In 1965, the Houston Astrodome hosted its first baseball game. In 1983, the space shuttle Challenger concluded it first flight. In 1998, the National Prisoner of War Museum opened in Andersonville, Georgia, at the site of an infamous Civil War camp.
TRIVIAL PURSUITS: What is the most popular sport in the world, by estimated global following?Read more >
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Editorial: Alison Cooke Mintzer


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