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| Products, Deals and People | |
| Retirement Industry People Moves | |
| T. Rowe Price brings in new head of CEDT Innovation Center; USI Consulting hires assistant vice president of retirement services; StoneStreet rebrands as its services are expanded; and more.Read more > | |
| Economic Events | |
| THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about housing starts for November. Wednesday, the National Association of Realtors will report about existing home sales for November. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about durable goods orders for November and new home sales for November. | |
| Sponsored message from Natixis | |
| Helping Make Retirement More Personal 82% of plan participants surveyed, would like their personal values reflected in their investments. Now there’s a solution that meets this demand: Natixis Sustainable Future Funds, the industry’s first ESG-driven target date funds. 1836098.1.1Read more > | |
| Market Mirror | |
Friday, the Dow gained 143.08 points (0.58%) to finish at 24,651.74, the NASDAQ closed 80.06 points (1.17%) higher at 6,936.58, and the S&P 500 increased 23.80 points (0.90%) to 2,675.81. The Russell 2000 increased by 23.47 points (1.56%) to 1,530.42, and the Wilshire 5000 climbed 231.22 points (0.84%) to 27,734.32.
The price of the 10-year Treasury note increased 2/32, bringing its yield down to 2.355%. The price of the 30-year Treasury bond up 13/32, decreasing its yield to 2.689%. WEEK’S WORTH: For the week ending December 15, the Dow finished 1.33% higher, the NASDAQ was up 1.41%, and the S&P 500 increased 0.92%. The Russell 2000 gained 0.57%, and the Wilshire 5000 was up 0.79%. | |
| Industry Voices | |
| What to Know About Adding Religiously Compliant Funds to a Retirement Plan | |
| Participants’ desire to invest according to faith-based principles can be a tricky proposition for employers that manage a retirement plan.Read more > | |
| From the Magazine | |
| Distinctions Persist | |
| Since mid-2016, more than a dozen lawsuits have been filed against a number of prominent institutions of higher learning, alleging these universities breached their fiduciary duties to employees by offering 403(b) plans in a manner alleged to be too expensive and complex. In general, the suits mistakenly assume that 403(b) retirement plans offered by universities should follow the same blueprint as 401(k) plans. The following describes the significant differences in the origins, goals and legal treatment of 401(k) and 403(b) plans and why recent lawsuits have failed to appreciate these distinctions.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1787, New Jersey became the third state to ratify the U.S. Constitution. In 1865, U.S. Secretary of State William Seward issued a statement verifying the ratification of the 13th Amendment to the U.S. Constitution. The amendment abolished slavery. In 1898, a new automobile speed record was set at 39 mph. In 1917, the Eighteenth Amendment to the U.S. Constitution –prohibition—was passed by the U.S. Senate and then officially proposed to the states. In 1944, the U.S. Supreme Court upheld the wartime relocation of Japanese-Americans, but also stated that undeniably loyal Americans of Japanese ancestry could not be detained. In 1956, Japan was admitted to the United Nations. In 1972, the United States began the heaviest bombing of North Vietnam during the Vietnam War. The attack ended 12 days later. In 1987, Ivan F. Boesky was sentenced to three years in prison for plotting Wall Street’s biggest insider-trading scandal. In 1998, the U.S. House of Representatives began the debate on the four articles of impeachment concerning U.S. President Bill Clinton. In 2009, General Motors announced that it would shut down its Saab brand. | |
| SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Have you had an embarrassing moment at work?” I also asked them to share their MOST embarrassing moment with us. Nearly all (90.9%) of responding readers have had an embarrassing moment at work, while 9.1% reported they haven’t. MOST embarrassing moments at work respondents chose to share include: “I didn’t realize I had left the bathroom with part of my dress tucked into my panty hose. I had to walk through the break room to get back to my desk. Fortunately, a kind coworker reached out and pulled my dress down before I got any further.” In verbatim comments, there were some tips about how to handle or think about embarrassing moments. Almost all noted that embarrassing moments are a fact of life, and one said they provide “learning opportunities.” Editor’s Choice goes to the reader who said: “Guys, never ever ask a woman when she’s due.” Thank you to all who participated in the survey!Read more > | |
| 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 > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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