Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 23rd, 2019

Fee Variations

Having numerous options, plan sponsors need to make conscious decisions about managing their expenses and policies.Read more >
Education and Transparency Two Issues for CIT Use in DC Plans
Anya Krymkowski, with Cerulli, says plan sponsors can negotiate with CIT providers to receive more information on the trusts, thereby addressing the transparency issue.Read more >
Products, Deals and People
Investment Product and Service Launches
Ascensus partners with NextCapital for investment and fiduciary solutions, and Axioma releases Canadian risk model to suite of funds.Read more >
New Financial Audit Rule Increases Requirements for Plan Sponsors
2021 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Participants Missing the Full Match Remains a Big Problem
Deemed Distributions Can Be Triggered by More Than Just Loan Nonpayment
Sponsored message from Northern Trust
How a Custodian Started Up a Fintech Solution for CIOs
Learn how Northern Trust Front Office Solutions developed a data integration solution for CIOs.Read more >
Economic Events

In the week ending August 17, the advance figure for seasonally adjusted initial claims for unemployment insurance was 209,000, a decrease of 12,000 from the previous week’s revised level of 221,000, the Labor Department reported. The four-week moving average was 214,500, an increase of 500 from the previous week’s revised average of 214,000.

The average interest rate for a 30-year fixed-rate mortgage is 3.55%, down from 3.6% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.03%, down from 3.07%.

Market Mirror

Thursday, the Dow closed 49.51 points (0.19%) higher at 26,252.24, the NASDAQ closed 28.82 points (0.36%) lower at 7,991.39, and the S&P 500 slipped 1.48 points (0.05%) to 2,922.95. The Russell 2000 decreased 3.85 points (0.25%) to 1,506.00, and the Wilshire 5000 was down 24.19 points (0.08%) at 29,936.82.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.613%. The price of the 30-year Treasury bond decreased 6/32, bringing its yield up to 2.106%.

Transamerica Unable to Dodge Self-Dealing Suit
A federal court judge refused to dismiss the case, finding that the new claim was not a released claim in a previous lawsuit settlement and the plaintiffs had made sufficient pleadings.Read more >
Rule on Electronic Disclosures Moving Along
The OMB has received for review a proposed rule from the DOL aimed at reducing costs and improving participant understanding of retirement plan disclosures.Read more >
Small Talk

ON THIS DATE: In 1902, Fannie Merrit Farmer opened her cooking school, Miss Farmer’s School of Cookery, in Boston. In 1926, silent-screen idol Rudolph Valentino died at the age of 31. In 1939, Germany and the Soviet Union signed a non-aggression pact. In 1962, the first live TV program was relayed between the U.S. and Europe through the U.S. Telstar satellite. In 1989, as punishment for betting on baseball, Cincinnati Reds manager Pete Rose accepted a settlement that included a lifetime ban from the game.


And now it’s time for FRIDAY FILES!

At Lake Champlain, in New York, a woman reeled in a lake trout and was surprised to see it had two mouths. [pic]Read more >
In Denver, Colorado, plans for an outdoor movie night tumbled when winds picked up and sent air mattresses sailing.Read more >
In Volusia County, Florida, a raccoon wound up getting trapped inside a vending machine at Pine Ridge High School. “We think he made it in through the bottom door,” sheriff’s spokesman Andrew Gant told Huffington Post in an email. According to Gant, multiple students, along with a sheriff’s deputy who was already on the school campus, spotted the raccoon inside the machine and the deputy contacted animal control. In order to free him, they had to wait until someone from the vending machine company came to unlock the machine. That meant the raccoon was stuck for about four hours. [pic]Read more >

Near Shishmaref, Alaska, a man gathering firewood on the shore found a bottle with what looked like a message in it. Using a screwdriver, he retrieved the piece of paper, which had a note written in Russian. Translated, it said, “Sincere greetings! From the Russian Far East Fleet mother ship VRXF Sulak. I greet you who finds the bottle and request that you respond to the address Vladivostok -43 BRXF Sulak to the whole crew. We wish you good health and long years of life and happy sailing. 20 June 1969.” Reporters from the state-owned Russian media network, Russia-1, tracked down the original writer, Captain Anatolii Prokofievich Botsanenko, who confirmed it was his signature on the bottom.

Wishing everyone a happy 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


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