Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 16th, 2019
Benefits & Administration
Stakeholders Urged to Push Retirement Policy for Presidential Election
Retirement industry sources, during a webcast, discussed ways to strengthen national retirement policy.Read more >
CalPERS Offers Pre-Funding Trust to State Public Employers
Public employers can choose how much to contribute towards other post-employment benefits (OPEB) costs and choose from two asset allocations.Read more >
Products, Deals and People
ADP Offers Plan Health Dashboard That Uses Real-Time Data
The offering “highlights a plan’s strengths, points out opportunities to make improvements and enables sponsors to take action within the application to make those changes,” Kristin Andreski, with ADP, tells PLANSPONSOR.Read more >
MOST READ ARTICLES
1
IRS Announces 2020 Contribution and Benefit Limits
2
Social Security Administration Announced COLA for 2020
3
Updating TDFs to Provide Better Retirement Income
4
IRS Announces Contribution and Benefit Limits for 2019
5
Employees Are Making Each Other Sick
Investment Product and Service Launches
Northern Trust enhances securities lending offering; Global X adds ETF suite to Model Market Center; and Cohen & Steers makes changes to REIT mutual fund.Read more >
SoFi Adds 529 Contributions to SoFI at Work Program
It includes automated payroll deductions and employer contribution capabilities.Read more >
Economic Events

The combined value of distributive trade sales and manufacturers’ shipments for June, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,460.1 billion, up 0.1% from May and up 1.3% from June 2018, the Census Bureau announced.

 

Advance estimates of U.S. retail and food services sales for July, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $523.5 billion, an increase of 0.7% from the previous month, and 3.4% above July 2018.Total sales for the May through July period were up 3.3% from the same period a year ago. Retail trade sales were up 0.6% from June, and 3.4% above last year. Nonstore retailers were up 16% from July 2018, and miscellaneous stores were up 6% from last year.

 

In the week ending August 10, the advance figure for seasonally adjusted initial claims for unemployment insurance was 220,000, an increase of 9,000 from the previous week’s revised level of 211,000, the Labor Department reported. The four-week moving average was 213,750, an increase of 1,000 from the previous week’s revised average of 212,750.

 

The average interest rate for a 30-year fixed-rate mortgage is 3.6%, unchanged from one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.07%, up from 3.05% one week ago.
Market Mirror

Thursday, the Dow closed 99.97 points (0.39%) higher at 25,579.39, the NASDAQ was down 7.32 points (0.09%) at 7,766.62, and the S&P 500 increased 7.00 points (0.25%) to 2,847.60. The Russell 5000 decreased 5.87 points (0.40%) to 1,461.65, and the Wilshire 5000 was up 49.35 points (0.17%) at 29,156.39.

 

The price of the 10-year Treasury note increased 30/32, bringing its yield down to 1.496%. The price of the 30-year Treasury bond climbed 1 7/32, decreasing its yield to 1.949%.
Investing
Caution Warranted When Tying Yield Curve Inversions to Recession
One expert suggests the current yield curve inversion—often called a harbinger of recession—is due more to declining inflation expectations and the weight of negative bond yields in Europe.Read more >
Small Talk

ON THIS DATE: In 1858, a telegraphed message from Britain’s Queen Victoria to President James Buchanan was transmitted over the recently laid trans-Atlantic cable. In 1861, President Abraham Lincoln prohibited the Union states from trading with the states of the Confederacy. In 1923, Carnegie Steel Corporation put into place the eight-hour workday for its employees. In 1954, Sports Illustrated was published for the first time. In 1984, the U.S. Jaycees voted to admit women to full membership in the organization.

 

 

And now it’s time for FRIDAY FILES!
I was just resting my eyes. Really.Read more >
There’s so many more uses for that pool noodle than you know.Read more >
In Henrico County, Virginia, many residents have been visited by a strange person wearing a television set on their head who has been leaving vintage TVs on their porches. At least 60 people have been subjected to the bizarre antics, which witnesses say are being done by a guy dressed in a jumpsuit with a TV for a head, according to local station WTVR. Police officers picked up most of the TVs already so that citizens wouldn’t have to waste time or money dropping off the orphaned TVs at the dump. [pic]Read more >

In Gibsonton, Florida, police were called to a Walmart store where they found a man blocking the liquor store entrance with his golf cart. The Tampa Bay Times reports he was demanding to speak to a manager. As deputies spoke to the man, he suddenly drove toward the store’s main entrance. He raced toward the checkout area, hitting several customers. He was jailed on multiple charges, including aggravated battery.

 

In Humboldt County, California, a Sheriff’s deputy was racing to the scene of a reported overdose, when a bear fell from an embankment onto the hood of his car. Caltrans, the state highway department, said via Facebook that the patrol car struck an embankment, rolled over and caught fire. The flames then spread to nearby vegetation. The Sheriff’s deputy wasn’t injured.

 

Have a wonderful weekend!
Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more >

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

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