Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 27th, 2019
There Is Room to Improve Recordkeeper Websites for Plan Sponsors
Seventy-six percent of plan sponsors interviewed by Corporate Insight say they view the plan sponsor website either as very or extremely important in relation to their responsibilities to the plan.Read more >
Plan Sponsors Should Watch for Unintended Consequences of Defaults
A research paper warns that changing to a default fund that is preferred by more employees may lead people to be less well-prepared for retirement.Read more >
MOST READ ARTICLES
Products, Deals and People
Firms Partner to Provide Health Benefits to Professional Associations
“Broadening the membership benefits available to member organizations to include not only health insurance coverage options but, health reimbursement arrangements (HRAs) lets us better meet differing needs,” explains Tim McNichols, director of business development for LIG Solutions.Read more >
Sponsored message from Ayco
The hidden costs of uncoordinated benefits
See how financial counseling helps control costs and increases ROI.Read more >
Economic Events
New orders for manufactured durable goods in July increased $5.0 billion or 2.1% to $250.4 billion, the U.S. Census Bureau announced. This increase, up two consecutive months, followed a 1.8% June increase. Excluding transportation, new orders decreased 0.4%. Excluding defense, new orders increased 1.4%. Transportation equipment, also up two consecutive months, drove the increase, $5.7 billion or 7.0% to $86.3 billion.
Market Mirror

Monday, the Dow rose by 269.93 points (1.05%) to reach 25,898.83, the NASDAQ was up 101.97 points (1.32%) at 7,853.74, and the S&P 500 gained 31.27 points (1.10%) to close at 2,878.38. The Russell 2000 gained 16.52 points (1.13%) to reach 1,476.00, and the Wilshire 5000 took on 307.30 additional points (1.05%) for a 29,461.42 close.

 

The price of the 10-year Treasury note was virtually unchanged, increasing its yield to 1.538%, and the price of the 30-year bond was down 24/32, increasing its yield to 2.039%.
Compliance
Closed DB Plan Nondiscrimination Relief Extended Again
The IRS anticipates that final regulations on closed DB plan nondiscrimination testing will not be published in time for plan sponsors to make plan design decisions before expiration of the relief last provided.Read more >
Because Nonqualified Plan Is an ERISA Plan, State-Law Claims Are Preempted
The 6th U.S. Circuit Court of Appeals found Safelite’s NQDC plan to be covered under ERISA, so a participant’s claims for Section 409A violations should have been filed as an ERISA action.Read more >
Small Talk

ON THIS DATE: In 1859, the first oil well was successfully drilled in the U.S. by Colonel Edwin L. Drake near Titusville, Pennsylvania. In 1921, the owner of Acme Packing Company bought a pro football team for Green Bay, Wisconsin. J.E. Clair paid tribute to those who worked in his plant by naming the team the Green Bay Packers. In 1984, President Ronald Reagan announced that the first citizen to go into space would be a teacher. The teacher that was eventually chosen was Christa McAuliffe. In 1998, James Brolin received a star on the Hollywood Walk of Fame. In 1998, “Titanic” became the first movie in North America to earn more than $600 million. In 2001, work began on the future site of a World War II memorial on the U.S. capital’s historic national Mall.

 

No TRIVIAL PURSUITS this week.
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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