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| Paper or Web: Which Enrollment Process Should Employers Use? |
| Employers are not in touch with how their employees want to enroll in benefits, findings of a recent LIMRA survey suggest. Only 38% of surveyed employers think their employees want to use a computer to enroll, while more than one-quarter believe their employees still want to enroll through paper forms. However, a 2015 LIMRA study found that 68% of employees want to enroll in their benefits online or electronically and only 16% want paper enrollment forms.Read more > |
| 401(k) Participants Want Help With Retirement Savings Decisions |
| In addition to wanting help with investing and retirement planning, 85% of 401(k) participants surveyed by Charles Schwab said they would use a financial wellness program if it were offered by their employer.Read more > |
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| Market Mirror |
Yesterday, the Dow lost 37.39 points (0.20%) to finish at 18,495.66, the NASDAQ closed 20.90 points (0.40%) lower at 5,204.58, and the S&P 500 was down 6.25 points (0.29%) at 2,175.49. The Russell 2000 decreased 8.47 points (0.69%) to 1,223.27, and the Wilshire 5000 fell 72.55 points (0.32%) to 22,566.71.
On the NYSE, 3.1 billion shares traded, with a slight lead for decliners. On the NASDAQ, 2.7 billion shares changed hands, with declining issues outnumbering advancing issues 2 to 1.
The price of the 10-year Treasury note increased 12/32, bringing its yield down to 1.509%. The price of the 30-year Treasury bond climbed 24/32, decreasing its yield to 2.231%. |
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| Special Coverage |
| Auto-Feature Evolution Post-PPA and Beyond |
| Ten years out there is clearly a big push still unfolding in the retirement planning industry related to the expansion of automatic plan features enshrined in the Pension Protection Act of 2006 (PPA). Jim McCaughan, CEO of Principal Global Investors, suggests that plan features such as auto-enrollment and widespread use of automated asset-allocation solutions have been an important first step to improve retirement outcomes generally in the U.S., but in the 10 years since PPA, we’ve learned these features must be supplemented with education and other efforts around the basic rules of investing and saving.Read more > |
| DB Plan Funded Status 10 Years After PPA |
| The Pension Protection Act of 2006 had good intentions to get pension plans fully funded, but the market environment since the PPA’s passage has foiled such plans. Should the legislation be amended permanently?Read more > |
| You can find more of our special coverage of the Pension Protection Act’s 10-year anniversary through the rest of the month on our dedicated microsite.Read more > |
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| Investing |
| After two consecutive quarters of declines starting in the second quarter of 2015, Northern Trust Universe data shows the second quarter of 2016 was the third consecutive quarter of positive returns for institutional asset owners, with plan sponsors gaining approximately 1.9% at the median.Read more > |
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| Small Talk |
| ON THIS DATE: In 1874, a patent for the sprinkler head was given to Harry S. Parmelee. In 1877, the two moons of Mars were discovered by Asaph Hall, an American astronomer. He named them Phobos and Deimos. In 1896, Harvey Hubbell received a patent for the electric light bulb socket with a pull-chain. In 1934, Alcatraz, in San Francisco Bay, received federal prisoners for the first time. In 1975, the U.S. vetoed the proposed admission of North and South Vietnam to the United Nations. The Security Counsel had already refused to consider South Korea’s application. In 1984, Carl Lewis won his fourth gold medal in the 1984 Summer Olympics. In 1984, the Cincinnati Reds honored major league All-Star and Hall of Fame catcher Johnny Bench by retiring his uniform (#5). In 1992, in Bloomington, Minnesota, the Mall of America opened. It was the largest shopping mall in the United States. |
| SURVEY SAYS: Studies show a number of reasons employees give for not saving, or not saving more, for retirement—things like paying off student loans, paying for children’s education expenses, or just not making enough. This week, I’d like to know what obstacles keep you from saving more for retirement? 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 NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
