Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 7th, 2015
Benefits & Administration
Mercer Says Corporate Pensions Hampered By Rates in July
Pension plans sponsored by companies in the S&P 1500 saw a 1% drop in funded status during July, due to a dip in interest rates used to discount future liabilities according to Mercer. Researchers note the S&P 500 and MSCI EAFE indexes each gained 2.0% in July, but the typical discount rates for pension plans as measured by the Mercer Yield Curve decreased by 17 basis points (bps) to 4.11%.Read more >
ICI Savings Snapshot Shows Individual Commitment
A new study from ICI, “Defined Contribution Plan Participants’ Activities, First Quarter 2015,” includes data from January through March 2015 and is based on actual defined contribution (DC) plan recordkeeper data. ICI says the study demonstrates that participants are continuing to save at a steady pace in DC plans provided by their employer during the quarter.Read more >
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Products, Deals & People
Introducing a ‘Frugal’ 3(38) Advisory Services
Small defined contribution (DC) plan clients of Employee Fiduciary may now receive 3(38) investment advice through new subsidiary Frugal Financial Retirement Plan Services LLC. Included in the 3(38) offering is a fiduciary checklist to assess the satisfaction of fiduciary responsibilities.Read more >
Wells Fargo Will Offer Financial Engines Advisory Services
Retirement plan sponsors on the Wells Fargo recordkeeping platform will be able to elect to add Financial Engines’ independent advisory services to their retirement benefit plans. The direct offering will consist of Financial Engines’ full suite of advisory services for 401(k)-type retirement plans, including a discretionary personalized management service for participants who want to partner with or delegate the management of their retirement accounts to a professional.Read more >
Market Mirror

Media stocks were hammered for a second day Thursday as Viacom’s underwhelming earnings gave investors another reason to sell, the Associated Press reports. The Dow dropped 120.72 points (0.69%) to finish at 17,419.75, the NASDAQ closed 83.50 points (1.62%) lower at 5,056.44, and the S&P 500 was down 16.28 points (0.78%) at 2,083.56. The Russell 2000 fell 15.91 points (1.29%) to 1,215.85, and the Wilshire 5000 decreased 193.52 points (0.88%) to 21,923.30.

 

On the NYSE, 3.2 billion shares changed hands, with roughly 2advancing issues for every 3 declining issues, and on the NASDAQ, 2.8 billion shares traded, with a 2:5 ratio of advancers to decliners.

 

The price of the 10-year Treasury note rose 12/32, bringing its yield down to 2.227%. The price of the 30-year Treasury bond climbed 1 3/32, decreasing its yield to 2.897%.

Small Talk
ON THIS DATE: In 1888, Theophilus Van Kannel received a patent for the revolving door. In 1959, The U.S. launched Explorer 6, which sent back a picture of the Earth. In 1974, French stuntman Philippe Petit walked a tightrope strung between the twin towers of New York’s World Trade Center. In 1976, Scientists in Pasadena, California, announced that the Viking 1 spacecraft had found strong indications of possible life on Mars. In 1999, Tony Gwynn of the San Diego Padres made the 3,000th hit of his major league career. In 2003, in California, Arnold Schwarzenegger announced that he would run for the office of governor. 

And now it’s time for FRIDAY FILES!

 

In New Orleans, Louisiana, a 23-year-old man is accused of driving his sport scar through a fence and onto an active airport runway. Police say the man, who was arrested for dr.unk driving, drove through a fence and across a runway at Louis Armstrong International Airport before plowing through another fence.

 

In Mainz, Germany, officers pulled over a vehicle as it exited a highway in the northern German town of Bad Oeynhau—and found a pony bedded on hay in its hatchback. The driver claimed she was transporting the animal to the neighboring Czech Republic. Authorities allowed the woman to continue her journey to the next police station, where the animal was given water until its owner arrived.

 

In Santa Ana, California, a man was arrested after he allegedly climbed a tree and tried to get into the monkey exhibit at the Santa Ana Zoo. A zookeeper called 911 Tuesday morning to report that a shirtless man plastered in mud claimed climbed about 20 feet into a tree at the bird exhibit; the man, who apparently was high on met.hamphe.tamine, claimed he was Tarzan and tried to crawl into a monkey exhibit.

 

In Mansfield, Ohio, officials say a drone dropped a package of drugs into the Mansfield Correctional Institution, delivering almost a quarter of an ounce of her.oin, over 2 ounces of mari.juana and more than 5 ounces of tob.acco, sparking a fight in the yard. No injuries were reported.

 

In Carson City, Nevada, a man tried to evade deputies by fleeing on a scooter. The man, an alleged dr.ug dealer with two outstanding felony warrants, was unsuccessful.

 

In Rockingham, Vermont, state troopers apprehended two dr.unk drivers at one traffic stop. After pulling over a speeding vehicle, police determined the driver had been drinking; when the driver exited the vehicle, the passenger moved to the driver seat and put the vehicle into gear. After the vehicle rolled backwards, nearly colliding with the trooper’s cruiser, the second driver crossed two lanes of traffic, crashing in the median of the interstate.

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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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