Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
December 19th, 2016
Benefits & Administration
Where Does Your Adviser Get Best Practices?
When most retirement plan advisers want to catch up on industry trends, they go to a conference or webinar; but where do the speakers, leaders in the field, get their information? They may belong to a study group. More or less formal “adviser study groups” have been around for years, and they have likely impacted the way your trusted retirement plan consultants and advisers work and think. Read more >
Products, Deals and People
Retirement Industry People Moves
TIAA Hires New President; Mass Mutual Appoints Community Responsibility Director; Mercer Acquires Thomsons Online Benefits; and more. 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
Economic Events

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000, the Census Bureau announced. This is 18.7% below the revised October estimate of 1,340,000 and is 6.9% below the November 2015 rate of 1,171,000. Single-family housing starts in November were at a rate of 828,000; this is 4.1% below the revised October figure of 863,000. The November rate for units in buildings with five units or more was 259,000.

THE ECONOMIC WEEK AHEAD: Wednesday, the National Association of Realtors will report about existing home sales for November. Thursday, the Labor Department will release its initial claims report, and the Census Bureau will report about durable goods orders for November. Friday, the Census Bureau will report about new home sales in November.

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Market Mirror

Friday, the Dow decreased 8.83 points (0.04%) to 19,843.41, the NASDAQ closed 19.69 points (0.36%) lower at 5,437.16, and the S&P 500 was down 3.96 points (0.18%) at 2,258.07. The Russell 2000 slipped 2.01 points (0.155) to 1,364.40, and the Wilshire 5000 lost 36.32 points (0.15%) to finish at 23,600.09.

On the NYSE, 3.1 billion shares traded with 1.3 advancing issues for every declining issue. On the NASDAQ, 2.9 billion share changed hands, with a slight lead for decliners.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 2.593%. The price of the 30-year Treasury bond was down 9/32, increasing its yield to 3.175%.

WEEK’S WORTH: For the week ending December 16, the Dow was up 0.44%, the NASDAQ decreased 0.13%, and the S&P 500 was down 0.06%. The Russell 2000 lost 1.71%, and the Wilshire 5000 finished 0.33% lower.

Compliance
Plaintiffs Still Pushing Tibble Case Through Federal Courts
After multiple trips through the district and appellate court systems and consideration by the Supreme Court on multiple occasions, Tibble vs. Edison took another step forward. Read more >
Investing
November Fund Flows Underscore Active-Passive Shift
Strategic Insight’s monthly fund flow report for November 2016 shows active and passive strategies continued to experience divergent trends in net investments. Passive funds led demand with $67.7 billion of inflows (including $49.4 billion to exchange-traded products), while actively managed funds experienced aggregate net redemptions of $63.9 billion in November. Read more >
Institutional Investors Anticipate Market Evolution in 2017
Goldman Sachs Asset Management (GSAM) is out with one of its first 2017 market analyses, arguing that “the long post-crisis economic recovery” is likely to continue during the year to come. “As a base case, we think growth is poised to broaden out to more countries, with the global economy drawing on more sources of strength than at any point since 2010,” the analysis contends. Yet there are clearly points of concern and uncertainty in global markets—as well as in the U.S. Read more >
Small Talk

ON THIS DATE: In 1732, Benjamin Franklin began publishing “Poor Richard’s Almanac.” In 1777, General George Washington led his army of about 11,000 men to Valley Forge, Pennsylvania, to camp for the winter. In 1842, Hawaii’s independence was recognized by the U.S. In 1843, Charles Dickens’ “A Christmas Carol” was first published in England. In 1917, the first games of the new National Hockey League (NHL) were played. Five teams made up the league: Toronto Arenas, Ottawa Senators, Quebec Bulldogs, the Montreal Canadiens and the Montreal Wanderers. In 1972, Apollo 17 splashed down in the Pacific, ending the Apollo program of manned lunar landings. In 1998, U.S. President Bill Clinton was impeached on two charges of perjury and obstruction of justice by the U.S. House of Representatives. In 2000, the U.N. Security Council voted to impose sanctions on Afghanistan’s Taliban rulers unless they closed all terrorist training camps and surrender U.S. embassy bombing suspect Osama bin Laden. In 2008, U.S. President George W. Bush signed a $17.4 billion rescue package of loans for ailing auto makers General Motors and Chrysler.

SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Have you had or witnessed an embarrassing moment at an office holiday party?” Only 14.3% of responding readers admitted to having had an embarrassing moment at an office holiday party, while 85.7% said they did not. However, 57.1% reported they have witnessed an embarrassing moment at an office holiday party, and 42.9% have not. Not all shared the embarrassing moment they had or witnessed, with one saying, “I refuse to comment on the grounds that I may incriminate myself—or at least embarrass myself!” Most embarrassing moments shared involved alc.ohol. In the few verbatim comments, respondents also noted that drinking is usually the reason for embarrassing moments. A few expressed distaste for office parties, and a couple suggested something they’d rather have than an office holiday party. No Editor’s Choice this week. A big thank you to all who participated in the survey! Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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