Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 31st, 2017
Benefits & Administration
Record Number of Plan Sponsors Eye an Adviser Switch
Fidelity Investments announced the results of its eighth annual Plan Sponsor Attitudes survey, which revealed that a sizable majority of plan sponsors (65%) are highly satisfied with their plan advisers. However, similar to the last several editions of the survey, Fidelity reports that a record number of plan sponsors are actively looking to switch their plan advisers. Nearly four in 10 (38%) sponsors suggest they are actively looking for a new adviser, up from 30% last year. While advisers have to remain on their toes to keep their clients happy, the study shows that plan sponsors are making more plan design changes than ever before and are eagerly engaging with advisers to do so. Plan design activity continues to increase and reached a new high at 92%, with plan advisers seen as the primary influencer of these changes.Read more >
Employer-Sponsored Retirement Plan an Expectation of Millennials
Nearly seven out of 10 Millennials (69%) believe individuals have primary responsibility for taking steps to ensure they have a secure retirement, according to a survey of 1,200 investors from Capital Group, home of American Funds. However, a number of Millennials believe employers (13%) or the government (14%) have the most responsibility for ensuring people have a secure retirement. Millennials see access to a retirement savings plan as a basic expectation from employers. Eighty percent of Millennials believe all employers should be expected to provide a retirement savings option. The Millennial generation also wants to make a social impact with their investments.Read more >
2022 Recordkeeping Survey
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
TRIVIAL PURSUITS: From Where Did the Phrase ‘Be There With Bells On’ Originate
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
Employees Want a Better Open Enrollment Experience
A survey by Namely, a human resources platform focusing on mid-sized employers, revealed some key findings about how employees prefer to be introduced to their benefits options during open enrollment season. It also showed employers have room for improvement in this realm.Read more >
Gig Workers Cite Lack of Benefits as Disadvantage
The lack of benefits is the most commonly reported disadvantage of “gig” work, according to a survey from Prudential Financial. Only 16% of Gig Only workers have assets in an employer-sponsored retirement plan.Read more >
Market Mirror

Wednesday, the Dow closed 27.06 points (0.12%) higher at 21,892.43, the NASDAQ gained 66.42 points (1.05%) to finish at 6,368.31, and the S&P 500 increased 11.29 points (0.46%) to 2.457.59. The Russell 2000 was up 7.64 points (0.55%) at 1,391.32, and the Wilshire 5000 climbed 144.77 points (0.57%) to 25,496.81.


The price of the 10-year Treasury note was down 3/32, increasing its yield to 2.139%. The price of the 30-year Treasury bond was up 1/32, decreasing its yield to 2.742%.
Fiduciary Rule Transition Period Extended by One Year
The new applicability date for the Department of Labor (DOL) fiduciary rule and its accompanying exemptions is January 1, 2019, according to an as-yet-unpublished notice that will soon appear in the Federal Register. As the DOL lays out, the primary purpose of the proposed delay of full enforcement is to give the department the time necessary to consider possible changes and alternatives.Read more >
BB&T Self-Dealing Suit Gets Class Certification
A federal district judge has granted class certification in a consolidated complaint in which participants in BB&T Corporation retirement plans accuse the company of breaching the Employee Retirement Income Security Act (ERISA) by favoring its own proprietary investment options and recordkeeping services at the expense of performance. The judge certified a class after first rejecting BB&T’s arguments that the class did not meet commonality and typicality requirements.Read more >
Small Talk

ON THIS DATE: In 1881, the first tennis championships in the U.S. were played. In 1887, the kinetoscope was patented by Thomas Edison. The device was used to produce moving pictures. In 1920, John Lloyd Wright was issued a patent for “Toy-Cabin Construction,” which are known as Lincoln Logs (U.S. patent 1,351,086). In 1935, the act of exporting U.S. arms to belligerents was prohibited by an act signed by U.S. President Franklin D. Roosevelt. In 1959, Sandy Koufax set a National League record by striking out 18 batters. In 1965, the Department of Housing and Urban Development was created by the U.S. House of Representatives and the Senate. In 1990, East and West Germany signed a treaty that meant the harmonizing of political and legal systems. In 1991, in a “Solidarity Day” protest hundreds of thousands of union members marched in Washington, D.C. In 1994, Russia officially ended its military presence in the former East Germany and the Baltics after a half-century. In 1998, a ballistic missile was fired over Japan by North Korea. The missile landed in stages in the waters around Japan. There was no known target.



SURVEY SAYS: Will return next week.
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Editorial: Alison Cooke Mintzer


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