Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
August 8th, 2018
Benefits & Administration
Most DC Plan Advisers Offer Financial Wellness Support
In addition to retirement savings services and investing support, defined contribution (DC) plan advisers who provide financial wellness services offer rainy day/emergency funds, budgeting and managing spending, college savings education, and more. Read more >
LendEDU Suggests Millennial Spending Habits Won’t Harm Their Retirement
A recent LendEDU study, conducted with over 1,000 Millennial Americans ages 22 to 37, revealed the correlation between day-to-day spending habits and assigned retirement savings for one month. In it, the survey found, the average Millennial spends $38 on coffee per month, but will save $480 for retirement. However, 27% of respondents expend more on coffee than on retirement savings. Read more >
With Unsustainable Health Benefit Cost Increases, Employers Looking to Care Disruption
More than half of employers (52%) believe virtual care will play a significant role in how health care is delivered in the future, while 43% believe artificial intelligence will play a major role, according to a survey. Read more >
Ask the Experts
Any Tax Reform Retirement Changes Coming?
“I hear that there is discussion of additional tax reform. Should I be concerned that there will be major retirement plan changes?” Read more >
MOST READ ARTICLES
1
AT&T Sued Over Calculation of Early Retirement Benefits
2
Congressional Leaders Want SECURE Act Passage in 2019
3
New Lawsuit Highlights Importance of Cybersecurity for Retirement Plans
4
IRS Releases 2019-2020 Priority Guidance Plan
5
DC Plans 3.0 Will Really be Tailored to Individual Situations
Market Mirror

Tuesday, the Dow climbed 126.73 points (0.50%) to 25,628.91, the NASDAQ gained 23.99 points (0.31%) to finish at 7,883.66, and the S&P 500 closed 8.05 points (0.28%) higher at 2,858.45. The Russell 2000 was up 3.99 points (0.24%) at 1,688.30, and the Wilshire 5000 increased 75.40 points (0.25%) to 29,764.56.

The price of the 10-year Treasury note was down 9/32, increasing its yield to 2.978%. The price of the 30-year Treasury bond decreased 20/32, bringing its yield up to 3.122%.

Compliance
Business Owner to Serve Prison Time for 401(k) Plan Embezzlement
A multi-agency investigation found that from approximately May 2011 through August 2012, the business owner unlawfully embezzled and converted approximately $31,403 in deferred contributions from employees. Read more >
8th Circuit Affirms Dismissal of Wells Fargo Self-Dealing Suit
For one thing, the appellate court noted that the plaintiff did not use a sufficient benchmark to show that Wells Fargo’s target-date funds (TDFs) were an imprudent investment for its 401(k) plan. Read more >
Investing
Institutional Investor Returns Rebound From Q1 2018
Institutional assets tracked by Wilshire Trust Universe Comparison Service (Wilshire TUCS) posted an all-plan median return of 0.88% for second quarter and 7.50% for the year ending June 30. Public funds posted the best quarterly and one-year returns of all plan types, while corporate funds posted the lowest. Read more >
Fees Negatively Correlated With Public Plans’ Ability to Meet Benchmarks
Alternative investments charge higher fees than traditional asset classes such as public equities and fixed income, and according to a study, these fees, in particular, may play a meaningful role in public plan underperformance. Read more >
Small Talk
Nearly three-quarters (74%) of employees polled by global staffing firm Robert Half said they’ve achieved a good to excellent work-life balance. Professionals in Nashville, Denver, Atlanta, Cincinnati, San Diego and Raleigh reported the most dissatisfaction in their work-life balance. More than one-third of employees think their companies are responsible for work-life balance. Read more >

ON THIS DATE: In 1844, after the killing of Joseph Smith on June 27, Bringham Young was chosen to lead the Mormons. In 1876, Thomas Edison received a patent for the mimeograph. The mimeograph was a “method of preparing autographic stencils for printing.” In 1899, the refrigerator was patented by A.T. Marshall. In 1911, the number of representatives in the U.S. House of Representatives was established at 435. There was one member of Congress for every 211,877 residents. In 1945, the United Nations Charter was signed by U.S. President Harry Truman. In 1945, during World War II, the Soviet Union declared war on Japan. In 1953, the U.S. and South Korea initiated a mutual security pact. In 1966, Michael DeBakey became the first surgeon to install an artificial heart pump in a patient. In 1974, President Richard Nixon announced that he would resign the following day. In 1991, the U.N. Security Council approved North and South Korea for membership.


WEDNESDAY WISDOM:
“Punctuality is the virtue of the bored.”—Evelyn Waugh, English novel writer

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

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