Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
December 24th, 2018

Editor’s Note: In the past several years, the retirement industry has recognized that employees who do not have all their financial ducks in a row have a difficult time saving for retirement. Financial wellness programs and creative benefit ideas are gaining interest as a way to solve this problem. This edition of PLANSPONSOR NewsDash is focused on some of these ideas.
Benefits & Administration
Voluntary Benefits Can Be Part of Overall Financial Wellness Strategy
Many types of benefits offer financial protection and peace of mind for employees, speakers from Mercer explained in a webcast. Read more >
Voluntary Benefits Increasingly Offered to Help Employees With Financial Issues
Education benefits that address rising student loan debts and parents saving for children’s future college cost are financial well-being benefits that are gaining traction. Read more >
Helping Employees Build Emergency Savings
The term “sidecar savings accounts” has been introduced into the retirement industry’s lexicon, and new legislation has been introduced to allow employers to auto enroll employees into them. Read more >
Employees Would Value Employer-Sponsored Emergency Savings Program
The “Saving at Work for a Rainy Day” report indicated that seven in ten employees would likely participate in an employer-based rainy-day savings program. Read more >
HDHP Enrollees More Engaged With Their Health Plan
They also have many characteristics equated with greater financial stability than those not in a high-deductible health plan (HDHP). Read more >
MOST READ ARTICLES
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The Senate Math That Could Block SECURE Act
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House Committee Advances Bill to Establish Union Pension Lifeline Program
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Open MEPs Not for Every Plan Sponsor
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Driving Financial Wellness at Work
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Pension Participants Claim ERISA Breaches in Dow DuPont Pension Transfer
Products, Deals and People
Retirement Industry People Moves
DWS Group adds portfolio management head; CBIZ purchases Sequoia business unit; Eagle Asset Management names managing director; and more. Read more >
Economic Events

New orders for manufactured durable goods in November increased $1.9 billion or 0.8% to $250.8 billion, the U.S. Census Bureau announced. This increase, up following two consecutive monthly decreases, followed a 4.3% October decrease. Excluding transportation, new orders decreased 0.3%. Excluding defense, new orders decreased 0.1%. Transportation equipment, up three of the last four months, drove the increase, $2.5 billion or 2.9% to $87.0 billion.

 

THE ECONOMIC WEEK AHEAD: Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about new home sales in November.

Sponsored message from Wells Fargo
Personalized Investments
A New Approach to Customizing the Retirement Journey Read more >
Market Mirror

Friday, the Dow was down by 414.23 points (1.81%) to close at 22,445.37, the NASDAQ lost 195.41 points (2.99%) to finish at 6,332.99, and the S&P 500 declined by 50.80 points (2.06%) to 2,416.62. The Russell 2000 shed 33.92 points (2.56%) to finish at 1,292.09, and the Wilshire 5000 tumbled by 540.44 points (2.13%) to 24,792.95.

 

The price of the 10-year Treasury note was up by 8/32, decreasing its yield to 2.781%. The price of the 30-year Treasury bond was up by 15/32, decreasing its yield to 3.024%.

 

WEEK’S WORTH: For the week ended December 21, the Dow was down by 6.87%, the S&P 500 fell by 7.05%, and the NASDAQ gave up 8.36%. The Russell 2000 fell by 8.42%, and the Wilshire 5000 declined by 7.31%.

Compliance
Proposed Bill Would Allow Employers to Provide Side-Car Emergency Savings Accounts
A package of bills sponsored by four U.S. Senators would also increase access to workplace retirement savings accounts and help workers who already have retirement accounts save more. Read more >
Bill Would Allow Use of Retirement Plans to Provide Student Loan Repayment Benefits
The Retirement Parity for Student Loans Act would permit 401(k), 403(b), and SIMPLE retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. Read more >
Small Talk

ON THIS DATE: In 1814, the War of 1812 between the U.S. and Britain was ended with the signing of the Treaty of Ghent in Belgium. In 1851, a fire devastated the Library of Congress in Washington, D.C, destroying about 35,000 volumes. In 1943, President Franklin Roosevelt appointed Gen. Dwight D. Eisenhower supreme commander of Allied forces as part of Operation Overlord. In 1967, Joe Namath (New York Jets) became the first NFL quarterback to pass for 4,000 yards. In 1968, three astronauts, James A. Lovell, William Anders and Frank Borman, reached the moon. They orbited the moon 10 times before coming back to Earth. In 1992, President George H.W. Bush pardoned former Defense Secretary Caspar Weinberger and five others in the Iran-Contra scandal.

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 >

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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