Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
December 6th, 2017
Benefits & Administration
Nearly Half of Sponsors Fail to Realize They Are Fiduciaries
Even though all plan sponsors are fiduciaries, 49% do not think they bear this responsibility, AllianceBernstein (AB) found in a survey. This is up from 37% of plan sponsors who said they are not fiduciaries in 2014 and 30% in 2011. “Plan sponsors now face added responsibilities under the DOL’s [Department of Labor’s] new fiduciary rule, yet they’re less aware of their fiduciary status today than before,” says Jennifer DeLong, head of defined contribution (DC) at AB. Read more >
The Evolution of Financial Services Firms’ Home Page Design
Initially focused on advertising, company web pages are now a graphically vivid entrée to valuable information. Corporate Insights has published data tracing the digital evolution of financial firms’ home page design, 1996 through the present. Read more >
Investing
Year-End Market Analysis Highlights Global Momentum
During a year-end investing outlook webcast hosted by MFS Investment Management, James Swanson, chief investment strategist, and Erik Weisman, chief economist, highlighted stronger global growth and “merely moribund” inflation as important tail winds for U.S. retirement savers. Read more >
MOST READ ARTICLES
1
J.P. Morgan Agrees to Settle Stable Value Funds Suit
2
Individuals, Employers and Government All Play a Part in Retirement Readiness
3
Participant Loans: A Fiduciary Storm Brewing?
4
What to Know About Financial Audits Filed with Form 5500s
5
Driving Cybersecurity with Participants and Providers
Market Mirror

Tuesday, the Dow lost 109.41 points (0.45%) to finish at 24,180.64, the NASDAQ decreased 13.15 points (0.19%) to 6,762.21, and the S&P 500 was down 9.87 points (0.37%) at 2,629.57. The Russell 2000 closed 15.65 points (1.02%) lower at 1,516.76, and the Wilshire 5000 fell 114.56 points (0.42%) to 27,292.55.

 

The price of the 10-year Treasury note was down 5/32, increasing its yield to 2.356%. The price of the 30-year Treasury bond increased 18/32, bringing its yield down to 2.737%.

Sponsored message from Vanguard
Risk within target-date funds
The biggest risk to target-date funds isn’t what you’d expect. Read more >
Compliance
Government and Nonprofit Plans Spared in Senate Tax Bill
Following his first full read of the Senate’s recently passed tax overhaul legislation, Michael Webb, vice president at Cammack Retirement Group, sat down with PLANSPONSOR to offer some preliminary analysis. At a high level, he explains, there are some crucial differences between the Senate’s proposed version of the Tax Cuts and Jobs Act versus what was actually passed over the weekend—particularly for sponsors of governmental 457(b) plans and for nonprofits offering 403(b) plans. Read more >
Ask the Experts
Post-Termination Contributions for Employee Receiving Severance Pay
“We have an employee who has been here for many years whom we are forced to terminate since we are phasing out his entire department. However, we want to reward him for his lengthy service and valuable contributions. We are providing him with severance, but we understand that we cannot make contributions to the 403(b) plan based on that severance pay. But, could we make post-termination contributions under the 403(b) rules that allows for employer contributions following termination of employment?” Read more >
Small Talk
Workers can either be more cheerful or more stressed in the workplace during the holiday season. Employees responding to two different surveys cited what they like most and like least about the holiday season in the workplace. Read more >

ON THIS DATE: In 1790, the U.S. Congress moved from New York to Philadelphia. In 1865, the 13th Amendment to the U.S. Constitution was ratified. The amendment abolished slavery in the U.S. In 1877, Thomas Edison demonstrated the first gramophone, with a recording of himself reciting “Mary Had a Little Lamb.” In 1883, “Ladies’ Home Journal” was published for the first time. In 1884, the construction of the Washington Monument was completed by Army engineers. The project took 34 years. In 1889 – Jefferson Davis, the first and only president of the Confederate States of America, died in New Orleans. In 1923, U.S. President Calvin Coolidge became the first president to give a presidential address that was broadcast on radio. In 1947, Everglades National Park in Florida was dedicated by U.S. President Harry Truman. In 1973, Gerald R. Ford was sworn in as the vice-president of the United States after vice-president Spiro Agnew resigned. In 1994, Orange County, California, filed for bankruptcy protection due to investment losses of about $2 billion. The county is one of the richest in the U.S. and became the largest municipality to file for bankruptcy.

 

 

WEDNESDAY WISDOM: “All the world’s a stage and most of us are desperately unrehearsed.”—Sean O’Casey, Irish socialist and playwright

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

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