Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 29th, 2016
Benefits & Administration
Retirement Planning Apps Equally Important to Millennials and Boomers
Both Baby Boomers and Millennials rely on applications and tools to manage their retirement savings, Willis Towers Watson found in a survey.Read more >
Special Coverage
PLANSPONSOR Readers Make a Slight Turnaround About the PPA
When we surveyed PLANSPONSOR NewsDash readers right before the Pension Protection Act (PPA) was passed in 2006, their views of the legislation were mostly negative. A comparison of reader surveys then and now shows a slightly more positive view of the sweeping legislation.Read more >
See more of our PPA 10th anniversary coverage on our dedicated microsite.Read more >
Bills to Nullify the Retirement Security Rule Proposed in Congress
Dealing with Stress, Burnout in the HR, Benefits Department
Deals and People
BlackRock’s Retirement Head Ackerley Moving to Adviser Role
Products, Deals and People
Retirement Industry People Moves
John Hancock Retirement Plan Services Hires New Consultant; T. Rowe Hires New Investment Leaders; Strategic Retirement Adds New Adviser; Mercer Hires New Leader to Boston Team; and more.Read more >
Economic Events
THE ECONOMIC WEEK AHEAD: Tomorrow, the Conference Board will issue its Consumer Confidence Index for August. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about construction spending for July. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for August, and the Census Bureau will report about factory orders for July.
Market Mirror

Friday, the Dow closed 53.01 points (0.29%) lower at 18,395.40, the NASDAQ was up 6.71 points (0.13%) at 5,218.92, and the S&P 500 decreased 3.43 points (0.16%) to 2,169.04. The Russell 2000 decreased by 1.97 (01.6%) to 1,238.03, and the Wilshire 5000 was down 42.22 points (0.19%) at 22,538.15.

On the NYSE, 3.1 billion shares traded, with 3 declining issues for every 2 advancing issues. On the NASDAQ, 2.9 billion shares changed hands, with a slight lead for decliners.

The yield for the 10-year Treasury note was 1.633%. The yield for the 30-year Treasury bond was 2.290%.

WEEK’S WORTH: For the week ending August 26, the Dow fell 0.85%, the NASDAQ decreased 0.37%, and the S&P 500 lost 0.68%. The Russell 2000 was down 0.10%, and the Wilshire 5000 finished 0.56% lower.
Adviser Advocacy Group Backs Fiduciary Rule
Filing a “friend of the court” brief in support of the DOL’s new fiduciary rule, the Financial Planning Coalition argues advisers will be able to adapt successfully to the new conflict of interest restrictions.Read more >
IRS Eases Rollover Deadline Enforcement
In the presence of “a variety of mitigating circumstances,” taxpayers can now qualify for a waiver of the 60-day time limit generally placed on tax-free plan-to-plan or individual retirement account rollovers.Read more >
Small Talk
ON THIS DATE: In 1886, in New York City, Chinese Ambassador Li Hung-chang’s chef invented chop suey. In 1892, Pop (Billy) Shriver (Chicago Cubs) caught a ball that was dropped from the top of the Washington Monument in Washington, D.C. In 1945, U.S. General Douglas MacArthur left for Japan to officially accept the surrender of the Japanese. In 1949, at the University of Illinois, a nuclear device was used for the first time to treat cancer patients. In 1971, Hank Aaron became the first baseball player in the National League to hit 100 or more runs in each of 11 seasons.
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 >

Editorial: Alison Cooke Mintzer


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