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| Retirees Share Realities with Younger Generation | |
| In research from the Transamerica Center for Retirement Studies, retirees shared actionable insights about what they would have done differently in preparing themselves for retirement. The research found the actual experience of retirees does not match the expectations of pre-retirees. Workers should save more, earlier to prepare for retiring sooner than planned and to meet the competing financial priorities in retirement.Read more > | |
| Products, Deals and People | |
| Report Helps Employers Navigate ACA Reporting | |
| A new report from Thomson Reuters Checkpoint helps large employers understand reporting requirements under new Internal Revenue Service (IRS) Forms 1094-C and1095-C, which will be required starting in 2016 to comply with the Affordable Care Act (ACA).Read more > | |
| Sponsored message from SEI | |
| 5 Questions Every Plan Sponsor Should Ask About Retirement Income With a growing percentage of the workforce reporting insufficient retirement savings, DC plan sponsors are feeling the pressure to provide innovative solutions to better prepare participants for retirement.Read more > | |
| Market Mirror | |
Stocks are closing lower, led by declines in energy stocks as the price of oil fell sharply, according to the Associated Press. The Dow dropped 158.67 points (0.89%) to 17,729.68, the NASDAQ decreased 33.08 points (0.64%) to 5,123.22, and the S&P 500 lost 23.02 points (1.09%) to finish at 2,079.61. The Russell 2000 closed 12.47 points (1.04%) lower at 1,191.68, and the Wilshire 5000 fell 239.28 points (1.09%) to 21,627.38. On the NYSE, 3.2 billion shares changed hands, with declining issues outnumbering advancing issues more than 3 to 1. On the NASDAQ, 2.7 billion shares traded, with a 2 to 1 lead for decliners. The price of the 10-year Treasury note decreased 11/32, bringing its yield up to 2.180%. The price of the 30-year Treasury bond was down 3/32, increasing its yield to 2.908%. | |
| Compliance | |
| Committee Hears Arguments for Action Against Fiduciary Rule | |
| A congressional subcommittee heard testimony about the proposed bipartisan principles that go head to head with the fiduciary proposal.Read more > | |
| From the Magazine | |
| Clarification on Annuities | |
| In its desire to prompt more plan sponsors to offer in-plan annuities, and avail more Americans of retirement income options, the Department of Labor (DOL) issued Field Assistance Bulletin (FAB) 2015-02. “The main focus [of the bulletin] is on selection,” says Sam Henson, vice president of legislative and regulatory affairs at Lockton Companies in Kansas City, Missouri. “One of the safe harbor points in the 2008 guidance was giving plan sponsors heartburn. Essentially, you had to conclude that the annuity provider would be around in 30 years to make good on the annuity payments. The new bulletin says that sponsors need only to determine if the provider is financially viable at the time of the selection. This is very important.”Read more > | |
| Small Talk | |
| ON THIS DATE: In 1818, Illinois was admitted as the 21st state of the Union. In 1828, Andrew Jackson was elected president of the United States. In 1833, Oberlin College in Ohio opened as the first truly coeducational school of higher education in the United States. In 1931, Alka-Seltzer was sold for the first time. In 1947, the Tennessee Williams play “A Streetcar Named Desire” opened at Broadway’s Ethel Barrymore Theatre. In 1950, Paul Harvey began his national radio broadcast. In 1967, in Cape Town, South Africa, a team of surgeons headed by Dr. Christiaan Barnard, performed the first human heart transplant on Louis Washkansky. Washkansky only lived 18 days. In 1973, Pioneer 10 sent back the first close-up images of Jupiter. In 1997, Pierce Brosnan received a star on the Hollywood Walk of Fame. | |
| SURVEY SAYS: Looking at past SURVEY SAYS, I came across one that reminded me of a funny story. One day, while taking my Dad back home from a medical appointment, I suddenly stopped in the middle of the street and got out of my vehicle (note, in the very small town where he lived, there was no traffic). I had seen a $5 bill on the street, and got out to pick it up. My Dad’s comment was, “Wow, babe, are you that desperate for money?” It wasn’t that I was desperate for money, but that $5 was a significant enough amount to me to not pass up. On the other hand, I also pick up pennies that are heads up, even though I’m not really superstitious. This week, I’d like to know, if you saw change (not dollars) on the street, sidewalk, etc., how much would it have to be for you to pick it up? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
| Share the good news with a friend! Pass the Dash 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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