| | Higher Ed Plans Increasingly Turn to Advisers | | According to a report from Transamerica Retirement Solutions, “Retirement Plans for Institutions of Higher Education,” higher education institutions want to stay competitive with other employers and are turning to plan advisers for support. The goal is to help transform their retirement benefit programs into more effective recruiting and retention tools, and those colleges and universities that partner with an adviser show great gains, the report says.Read more > | | | Products, Deals and People | | Mercer Releases 2016 Guide to Social Security | | Mercer’s 2016 Guide to Social Security and 2016 Medicare booklet are now available, giving simple explanations of both national programs, recent changes, and cost and benefit amounts for 2016—including many real-life examples.Read more > | | | Sponsored message from SEI | How are your peers responding to the evolving landscape for DC plans?
SEI recently conducted a survey of 230 plan sponsors gauging current perspectives around plan design, target date investing, and governance. Request your advanced copy of the results today.Read more > | | | Market Mirror | An early rally on the stock market was mostly gone by the closing bell, leaving indexes with a mixed finish after being up most of the day, according to the Associated Press. The Dow lost 99.64 points (0.62%) to finish at 15,914.74, the NASDAQ was up 14.83 points (0.35%) at 4,283.59, and the S&P 500 decreased less than one point (0.02%) to 1,851.86. The Russell 2000 decreased by 0.41 (0.04%) to 963.48, and the Wilshire 5000 increased by 1.35 (0.01%) to 18,853.86.
On the NYSE, 3.1 billion shares traded, with a slight lead for advancers. On the NASDAQ, 2.7 billion shares changed hands, with a slight lead for decliners.
The price of the 10-year Treasury note increased 17/32, bringing its yield down to 1.671%. The price of the 30-year Treasury bond climbed 1 13/32, decreasing its yield to 2.488%. | | | Compliance | | Court Says Participant Must be Provided Custodial Agreement | | In a dispute as to whether he received benefits to which he was entitled, Derrick Askew requested a number of 401(k) plan-related documents from the plan sponsor, R.L. Reppert Inc. In a lawsuit, Askew identified a number of documents to which he claims he is entitled and has not yet received. U.S. District Judge James Knoll Gardner of the U.S. District Court for the Eastern District of Pennsylvania found that only a custodial agreement was required to be provided and gave reasons why the other requested documents were not.Read more > | | | From the Magazine | | Understanding Providers’ Retirement Readiness Formulas | | How much do you really know about your provider’s methodology for making participant retirement readiness projections? “Because there’s no national standard for such calculations, they vary quite widely [among providers],” says Mike Webb, vice president at Cammack Retirement Group Inc. in New York City.Read more > | | | Small Talk | | ON THIS DATE: In 1752, the Pennsylvania Hospital opened as the very first hospital in America. In 1929, the Lateran Treaty was signed. Italy now recognized the independence and sovereignty of Vatican City. In 1937, General Motors agreed to recognize the United Automobile Workers Union, which ended the current sit-down strike against them. In 1943, General Dwight David Eisenhower was selected to command the allied armies in Europe. In 1945, during World War II, the Yalta Agreement was signed by U.S. President Franklin Roosevelt, British Prime Minister Winston Churchill and Soviet leader Josef Stalin. In 1957, the NHL Players Association was formed in New York City. In 1975, Margaret Thatcher became the first woman to head a major party in Britain when she was elected leader of the Conservative Party. In 1989, Rev. Barbara C. Harris became the first woman to be consecrated as a bishop in the Episcopal Church. In 1990, Nelson Mandela was freed after 27 years in captivity. In 1990, in Tokyo, Japan, James “Buster” Douglas knocked out Mike Tyson in the tenth round to win the heavyweight championship. In 1993, Janet Reno was appointed to the position of attorney general by U.S. President Bill Clinton. She was the first female to hold the position. | | SURVEY SAYS: Some people who watch the Super Bowl look forward mostly to the commercials. A list of funny 2016 Super Bowl commercials has been listed on www.superbowlcommercials2016.org. This week, I’d like to know, which of these commercials did you think was the funniest. 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 NewsDash along – and tell your friends/associates they can sign up for their own copy.Read more > |
|
