Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 1st, 2016
Benefits & Administration
More Than Withdrawal Strategy Needed for Retirement Income
Fifty-six percent of Americans do not have a retirement income strategy, and among those that do, the most sophisticated plan is simply withdrawing money from savings accounts, a tactic that LIMRA does not recommend.Read more >
Products, Deals and People
Retirement Industry People Moves
New hires at USI Consulting and Southern Employee Benefit Practice of Milliman, and Stausboll retires from CalPERS.Read more >
MOST READ ARTICLES
Compliance
New Financial Audit Rule Increases Requirements for Plan Sponsors
Research
2021 Recordkeeping Survey
Data and Research
Participants Missing the Full Match Remains a Big Problem
Economic Events
THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about construction spending for December. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about factory orders for December. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for January.
Market Mirror

Stocks soared on the last trading day of January, led by big gains in technology companies after Microsoft posted a strong quarter, according to the Associated Press. The Dow climbed 396.66 points (2.47%) to 16,466.30, and the Wilshire 5000 soared 493.60 points (2.56%) to 19,812.39. The NASDAQ gained 107.28 points (2.38%) to finish at 4,613.95, the S&P 500 closed 43.03 points (2.27%) higher at 1,936.39, and the Russell 2000 increased 32.11 points (3.20%) to 1,035.38.

On the NYSE, 3.1 billion shares changed hands, with advancing issues outnumbering declining issues more than 8 to 1. On the NASDAQ, 2.7 billion shares traded, with a 4 to 1 lead for advancers.

The price of the 10-year Treasury note increased 14/32, bringing its yield down to 1.927%. The price of the 30-year Treasury bond climbed 23/32, decreasing its yield to 2.751%.

WEEK’S WORTH: For the week ending January 29, the Dow climbed 2.32%, the NASDAQ was up 0.50%, and the S&P 500 finished 1.55% higher. The Russell 2000 increased 1.43%, and the Wilshire 5000 gained 1.74%.
Sponsored message from Vanguard
Women versus men in DC plans
Learn the factors driving a sizeable difference in 401(k) wealth accumulation between men and women.Read more >
Compliance
Document Updates May Be Needed After ‘Montanile’
An Employee Retirement Income Security Act (ERISA) expert discusses the significant implications of the Supreme Court’s decision in Montanile v. Board of Trustees, especially as it pertains to plan sponsors enforcing liens on retirement or health plan assets.Read more >
FASB Proposes Pension Accounting Changes
The Financial Accounting Standards Board (FASB) has proposed changes to reporting requirements for defined benefit (DB) plans and other post-retirement benefits.Read more >
OMB Now Reviewing Fiduciary Rule Language
The Department of Labor has advanced its conflict of interest regulations to the Office of Management and Budget for final review.Read more >
Small Talk
ON THIS DATE: In 1788, Isaac Briggs and William Longstreet patented the steamboat. In 1790, the U.S. Supreme Court convened for the first time in New York City. In 1861, Texas voted to secede from the Union. In 1862, “The Battle Hymn of the Republic,” by Julia Ward Howe was first published in the “Atlantic Monthly.” In 1865, U.S. President Abraham Lincoln signed a Joint Resolution submitting the proposed 13th Amendment (to abolish slavery) to the states. In 1884, the first edition of the Oxford English Dictionary was published. In 1898, the Travelers Insurance Company of Hartford, Connecticut, issued the first automobile insurance policy. Dr. Truman Martin of Buffalo, New York, paid $11.25 for the policy, which gave him $5,000 in liability coverage. In 1913, Grand Central Terminal (also known as Grand Central Station) opened in New York City. It was the largest train station in the world. In 1919, the first Miss America was crowned in New York City. In 1960, four black college students began a sit-in protest at a lunch counter in Greensboro, North Carolina. They had been refused service. In 2003, NASA’s space shuttle Columbia exploded while re-entering the Earth’s atmosphere. All seven astronauts on board were killed.
SURVEY SAYS RESPONSES: The Carolina Panthers and the Denver Broncos will compete in Super Bowl 50 on February 7. Last week, I asked NewsDash readers, “Will you be watching and who do you want to win—or do you even care?” Nearly 14% of responding readers indicated they will not watch the game, but 42.7% will be watching at home by themselves or with just family and 24.2% will be watching at home with friends and family. Nearly half (47.6%) want the Denver Broncos to win, and 23.4% are pulling for the Carolina Panthers. Some of the verbatim comments made me LOL: “Darn, I circled that day to stop smoking and drinking and to start losing weight.” Several stated that the New England Patriots should be a contender, while several expressed joy that it is not. Some are only watching for the commercials. And, there were some very strong feelings expressed about Cam Newton and the NFL in general. Editor’s Choice goes to the reader who said: “Will watch as long as it is a good game (evenly matched). If it is a runaway, it isn’t worth sitting through all the commercials. It shouldn’t take 4 hours to play 60 minutes of football!” Thanks to all who participated in our survey!Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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