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| Market Mirror | |
Wednesday, the Dow was up 27.09 points (0.15%) at 17,902.51, the NASDAQ climbed 40.59 points (0.83%) to 4,950.82, and the S&P 500 increased 5.57 points (0.27%) to 2,081.90. The Russell 2000 gained 9.35 points (0.75%) to finish at 1,262.71, and the Wilshire 5000 closed 73.99 points (0.34%) higher at 22,100.57. On the NYSE, 3.2 billion shares traded, with 1.5 advancing issues for every declining issue. On the NASDAQ, 2.8 billion shares changed hands, with a 1.8 to 1 ratio of advancers to decliners. The price of the 10-year Treasury note slipped 6/32, increasing its yield to 1.907%. The price of the 30-year Treasury bond decreased 8/32, bringing its yield up to 2.531%. | |
| Compliance | |
| DOL Announces Fiduciary Responsibilities Seminars | |
| The Department of Labor’s (DOL’s) Employee Benefits Security Administration is hosting five fiduciary responsibility seminars from May through July in locations across the country.Read more > | |
| From the Magazine | |
| From the Magazine: Fee Policy Statements | |
| In the same way that many plans have devised, and follow, a documented investment policy, so too have some begun contemplating a similar tool for fees. Industry experts have started to discuss fee policy statements—comparable to investment policy statements (IPSs) in that they serve as a road map for a plan committee to follow in order to better manage and document retirement plan expenses. According to Michael Woomer, senior vice president of institutional and retirement plan services for Fort Pitt Capital Group in Pittsburgh, the interest in fee policy statements is a natural result of the emphasis on fees brought on in part by the Section 408(b)2 and 404(a)5 fee disclosure requirements of the Employee Retirement Income Security Act (ERISA).Read more > | |
| Small Talk | |
| ON THIS DATE: In 1833, Peterborough, New Hampshire, opened the first municipally supported public library in the United States. In 1865, at Appomattox, Virginia, Confederate General Robert E. Lee surrendered his 28,000 troops to Union General Ulysses S. Grant, effectively ending the American Civil War. In 1950, Bob Hope made his first television appearance on “Star-Spangled Review” on NBC-TV. In 1959, the National Aeronautics and Space Administration (NASA) introduced America’s first astronauts to the press: Scott Carpenter, L. Gordon Cooper Jr., John H. Glenn Jr., Virgil “Gus” Grissom, Walter Schirra Jr., Alan Shepard Jr., and Donald Slayton. In 1963, Winston Churchill became the first honorary U.S. citizen. | |
| SURVEY SAYS: Depending on what type of boss you have, you may be more or less productive when he or she is out of the office. Or perhaps it doesn’t matter. This week, I’d like to know, how does your boss being away affect your work? If you are a boss to some employees, how do you perceive their work productivity when you are out? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
| Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more > | |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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