| Benefits & Administration | Measuring Employees’ Retirement Readiness Is Imperative for Businesses | Jonathan Price, Sibson Consulting vice president and consulting actuary, notes that if Baby Boomers are not ready to retire on time, it hurts the younger generations’ career progression. “Younger generations may not wait—they may leave or become unengaged,” he says. In addition, the Sibson publication says, employees unable to retire on time may consume a disproportionate share of the organization’s resources in the form of higher salaries and benefits. According to Price, when plan sponsors look at retirement readiness, the conventional wisdom is just to confirm they are ready to retire on time, but they need to also consider if employees are ready to retire earlier than the employer expects. So, what data can plan sponsors use to measure employees’ retirement readiness, and how can they help them get there?Read more > | Mid-Career Employees Most Likely to Be HSA Spenders | Employers are increasingly seeing health savings accounts (HSAs) as part of a retirement benefits strategy and are encouraging employees to use them as savings vehicles. However, a survey from ConnectYourCare shows mid-career employees are more likely spending their HSA assets. Employees younger than 25 and older than 65 are more likely to say they try to save/invest their HSA funds.Read more > | Mercer Suggests Focus Items for Health Benefit Plan Sponsors in 2018 | Mercer’s U.S. Leader of Health Reform, Tracy Watts, has suggested action items for health benefit plan sponsors in 2018. Managing specialty costs and protecting themselves from high-cost claims are two action items suggested.Read more > |
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| Products, Deals and People | Mutual of America Launches Social Media Campaign | Mutual of America has launched social media pages on Facebook, Twitter and LinkedIn to offer people information about retirement, namely tips, tools, studies and articles. Information will be tailored to all generations, be they Millennials, near retirement or in retirement.Read more > | | Economic Events | Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors. All major regions except for the West saw a significant hike in sales activity last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 5.6% to a seasonally adjusted annual rate of 5.81 million in November from an upwardly revised 5.50 million in October. After last month’s increase, sales are 3.8% higher than a year ago and are at their strongest pace since December 2006 (6.42 million). | | Sponsored message from Ayco | Adam Hills on Ayco’s Evolving Philosophy Watch the video.Read more > | | Market Mirror | Wednesday, the Dow closed 28.10 points (0.11%) lower at 24,726.65, the NASDAQ was down 2.89 points (0.04%) at 6,960.96, and the S&P 500 decreased 2.22 points (0.08%) to 2,679.25. The Russell 2000 increased 3.33 points (0.22%) to 1,540.08, and the Wilshire 5000 was down 13.51 points (0.05%) at 27,808.43. The price of the 10-year Treasury note decreased 9/32, bringing its yield up to 2.499%. The price of the 30-year Treasury bond fell 1 6/32, increasing its yield to 2.881%. | | Compliance | PBGC Amends Regulation on Allocation of Assets in Single-Employer Plans | A final rule provides a new table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination with valuation dates falling in 2018.Read more > | | Investing | Presenting Managed Accounts as a Service Could Reduce Apprehensions | As managed accounts continue to progress in the 401(k) industry, latest research from Cerulli Associates finds this unique investing strategy can see further development in 2018, with the use of proper participant awareness. Cerulli suggests that if retirement plan sponsors position managed accounts as a valued service it could alleviate concerns about costs.Read more > | | Small Talk | ON THIS DATE: In 1620, the “Mayflower”, and its passengers, pilgrims from England, landed at Plymouth Rock, Massachusetts. In 1898, scientists Pierre and Marie Curie discovered the radioactive element radium. In 1909, McKinley and Washington schools of Berkeley, California, became the first authorized, junior-high schools in the U.S. In 1937, Walt Disney debuted the first, full-length, animated feature in Hollywood. The movie was “Snow White and the Seven Dwarfs.” In 1945, U.S. Gen. George S. Patton died in Heidelberg, Germany, of injuries from a car accident. In 1951, Joe DiMaggio announced his retirement from major league baseball. In 1991, 11 of the 12 former Soviet republics proclaimed the birth of the Commonwealth of Independent States. In 1996, U.S. House Speaker Newt Gingrich admitted violating House ethics rules. In 1998, the first vaccine for Lyme disease was approved. SURVEY SAYS: Sorry, not this week. | 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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