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| Products, Deals and People | |
| Retirement Industry People Moves | |
| John Hancock Expands Institutional Sales Team; CUNA Mutual Retirement Tackles TPA Market; OneAmeirca Appoints Regional Sales Director; and more.Read more > | |
| Economic Events | |
The unemployment rate declined to 4.6% in November, and total nonfarm payroll employment increased by 178,000, the Bureau of Labor Statistics reported. Employment gains occurred in professional and business services and in health care. THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about factory orders for October. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about wholesale inventories for October. | |
| Sponsored message from Prudential | |
| Reducing Pension Risk: The Five Myths Holding Back Plan Sponsors Are the Five Myths Preventing You From Reducing Your Pension Risk?Read more > | |
| Market Mirror | |
Friday, the Dow was down 21.51 points (0.11%) at 19,170.42, the NASDAQ was up 4.55 points (0.09%) at 5,255.65, and the S&P 500 increased by 0.87 (0.04%) to 2,191.95. The Russell 2000 was virtually unchanged at 1,314.25, and the Wilshire 5000 increased 14.17 points (0.06%) to 22,928.72. On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.9 billion shares traded, with a slight lead for advancing issues on both exchanges. The yield on the 10-year Treasury note was 2.387%. The yield on the 30-year Treasury bond was 3.065%. WEEK’S WORTH: For the week ending December 2, the Dow was up 0.10%, the NASDAQ fell 2.65%, and the S&P 500 decreased 0.97%. The Russell 2000 lost 2.45%, and the Wilshire 5000 finished 1.03% lower. | |
| Industry Voices | |
| Barry’s Pickings Online: Auto-IRA – Not Dead Yet | |
| Michael Barry discusses why he thinks automatic IRA legislation still has a chance to be passed.Read more > | |
| From the Magazine | |
| ETF Inclusion in TDFs | |
| Exchange-traded funds (ETFs) may have finally found their point of entry into the defined contribution (DC) market, having faced barriers to acceptance as a standalone investment option. They have begun to gain traction as underlying investments within other vehicles, such as target-date mutual funds (TDFs).Read more > | |
| Small Talk | |
| ON THIS DATE: In 1766, James Christie, founder of the famous auctioneers, held his first sale in London. In 1776, in Williamsburg, Virginia, at the College of William and Mary the first scholastic fraternity in America, Phi Beta Kappa, was organized. In 1782, the first native U.S. president, Martin Van Buren, was born in Kinderhook, New York. In 1848, U.S. President James Polk triggered the Gold Rush of ’49 by confirming the fact that gold had been discovered in California. In 1933, prohibition came to an end when Utah became the 36th state to ratify the 21st Amendment to the U.S. Constitution. In 1951, the first push button-controlled garage opened in Washington, D.C. In 1955, the American Federation of Labor and the Congress of Industrial Organizations merged to form the AFL-CIO. In 1962, the U.S. and the Soviet Union agreed to cooperate in the peaceful uses of outer space. In 1978, the American space probe Pioneer Venus I, orbiting Venus, began beaming back its first information and picture of the planet. | |
| SURVEY SAYS: Last week, I asked NewsDash readers, “Will you be giving up some PTO or vacation days this year, and does your company allow you to carry any time into the next year?” The good news for responding readers is 81.5% said they will not be giving up any PTO or vacation time this year. More than one-third (34.7%) of responding readers’ companies allow employees to carry over more than ten days of PTO or vacation, The same percentage allow carryover of one to five days, 10.7% allow carryover of six to ten days and 20% do not allow any vacation of PTO days to be rolled over. Many of responding readers who left comments gave some very good arguments for using all your time and not leaving any on the table. However, several noted that even if they take a vacation or PTO day, they end up working some that day or on the weekend to keep up with the work they have. I like the suggestion, given by a few readers, that the company pay an employee for unused days instead of them being forfeited. Editor’s Choice goes to the reader who said: “We need happier survey topics this close to the holidays, it’s not fun being reminded that I haven’t used all my vacation days!” Stay tuned. Next week will be happier. Thanks to everyone who responded to the survey!Read more > | |
| Share the good 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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