Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 9th, 2015
Benefits & Administration
Employers See Employees Needing Investing Help
More than half of companies (54%) responding to a Transamerica survey say their employees are very involved in monitoring and managing their retirement savings, with 14% that “strongly” agree and 41% that “somewhat” agree. But, eight out of 10 companies agree that most of their employees do not know as much as they should about retirement investing, with 43% that “strongly” agree.Read more >
Executives Feel Wellness Programs Boost Productivity
Eighty-three percent of executives say employee wellness programs can prevent employees from feeling burned out, according to a poll conducted by Harris Poll on behalf of Virgin Pulse. In addition, 97% say healthier employees are more productive than non-healthy employees.Read more >
Factors Converging to Spur Private Exchange Adoption
Accenture expects total enrollment in private exchanges to ultimately surpass state and federally funded exchanges, reaching 40 million by 2018. Accenture says two key factors limiting private health insurance exchange growth in the initial years—capacity constraints by a lack of mature solution providers and adoption delays among large employers—will dissolve in the near term.Read more >
Products, Deals & People
The financial services provider TIAA-CREF announced its investment in Churchill, a majority-owned subsidiary specializing in originating, underwriting and managing senior loan investments. Churchill plans to prioritize making middle-market senior secured loan investments through investment vehicles designed to meet the needs of institutional and qualified investors, including co-mingled funds, separately managed accounts and other investment products.Read more >
REDW, a certified public accounting and business consulting firm, formed Alliance Benefit Group Southwest (ABG-Southwest) as a sister firm to focus exclusively on providing retirement plan administration services. The creation of a separate company allows the firm’s current clients to access dedicated services that meet the needs of retirement plan sponsors and plan participants, says Carol Cochran, REDW principal and head of ABG-Southwest.Read more >
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SECURE Act 2.0 Passed Unanimously by Ways and Means Committee
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403(b) Plan Sponsor Sued Over Excessive Fees and Underperforming Investments
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 >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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