Plansponsor Logo
PLANSPONSOR NEWSDASH LOGO December 6th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
Investing
Keys to Future Investing Success for Institutional Investors
Sources share what to look for in asset managers and investment products to reap the best investment outcomes.
Investing
Stable Value’s Role in a Diversified DC Plan Menu
Stable value funds can and do play an important role as an asset class alongside target-date funds, and they should also be the subject of sufficient deliberation.
Most Read
Administration
Rules for Retaining Benefit Plan Records
Compliance
Effect of the Biden Administration on Health and Retirement Benefits
Benefits
What Happens When Student Loan Payment Deferral Ends?
Compliance
Most 401(k)s Embrace New Hardship Rules
According to PSCA, relatively few sponsors have seen participants taking out excess hardship withdrawals.
SPONSORED BY: Ayco
Five things employers need to know about the new draft W-4
Here’s what you need to know based on IRS guidance.
Economic Events
New orders for manufactured durable goods in October increased $1.5 billion or 0.6% to $248.7 billion, the U.S. Census Bureau announced. This increase, up four of the last five months, followed a 1.4% September decrease. Excluding transportation, new orders increased 0.6%. Excluding defense, new orders increased 0.1%. Fabricated metal products, up two of the last three months, led the increase, $0.6 billion or 1.8% to $34.1 billion.

In the week ending November 30, the advance figure for seasonally adjusted initial claims for unemployment insurance was 203,000, a decrease of 10,000 from the previous week’s unrevised level of 213,000, the Labor Department reported. The four-week moving average was 217,750, a decrease of 2,000 from the previous week’s unrevised average of 219,750.

The average interest rate for a 30-year fixed-rate mortgage is 3.68%, unchanged from one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.14%, down from 3.15%.
Market Mirror
Thursday, the Dow closed 28.01 points (0.10%) higher at 27,677.79, the NASDAQ ticked up 4.03 points (0.05%) to 8,570.70, and the S&P 500 gained 4.67 points (0.15%) to finish at 3,117.43. The Russell 2000 was virtually unchanged at 1,614.83, and the Wilshire 5000 increased 29.99 points (0.09%) to 31,757.94.

The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.808%. The price of the 30-year Treasury bond decreased 28/32, bringing its yield up to 2.257%.
Compliance
2019 Required Amendments List Published by IRS
Covered in this year’s required amendments list are new hardship withdrawal rules and a new regulation impacting certain cash balance pension plans.
Investment Product and Service Launches
Aegon Asset Management Announces Global Integration; Avantis Investors Launches Additional Mutual Funds; and Vanguard Creates New International Bond Index Fund.
Small Talk
ON THIS DATE: In 1735, in London, French surgeon Claudius Amyand performed the first successful appendectomy at St. George’s Hospital. In 1790, 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 died in New Orleans. He was the first and only president of the Confederate States of America. In 1923, 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 Truman. In 1990, Vice President Dan Quayle was enshrined in the Little League Museum’s Hall of Excellence. 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.


And now it’s time for FRIDAY FILES!
In Oakwood, Georgia, a man called out of work at a fast food restaurant because he was “intoxicated.” However, he did show up later. The Gainesville Times reports that he demanded money while holding a co-worker at gunpoint.

On a flight from Paris to Boston, a Delta Air Lines jet had a “wardrobe malfunction.” According to the Boston Herald, an uninflated evacuation slide fell from the jetliner into the yard of a suburban Boston home. The resident of the home told The Patriot Ledger he was doing yard work when the slide took out several branches of his Japanese maple. No one was hurt.

In Chattanooga, Tennessee, the Tennessee Aquarium is using an innovative way to light up a special Christmas tree. A special system connected to an electric eel named Miguel’s tank enables his shocks to power strands of lights on a nearby tree, the Associate Press reports. Miguel releases low-voltage blips of electricity when he is trying to find food, aquarist Kimberly Hurt said. That translates to a rapid, dim blinking of the Christmas lights. When he is eating or excited he emits higher voltage shocks which cause bigger flashes.

A pig in Greece had his moment of fame.

Here’s one way to get rid of a telemarketer.

I’ve never seen people so anxious to go to work before.

Wising everyone a wonderful weekend!
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2020 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850