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| Products, Deals & People | |
| More Solutions, Stability Ahead for John Hancock Clients | |
| On the eve of Christmas Eve, two big players in the retirement plan industry made an announcement that seemed to pass quietly amid the hustle of the holidays—John Hancock will acquire New York Life’s Retirement Plan Services (RPS) business. Peter Gordon, SVP and president of John Hancock RPS, tells PLANSPONSOR the acquisition will mean different things for different market segments. “We offer creative plan design for small businesses, but do not offer total outsourcing,” he says. However, with the acquisition of New York Life RPS, which has a strong nonqualified plans business, John Hancock will also promote total outsourcing.Read more > | |
| Sponsored message from Vanguard | |
| Vanguard’s Economic & Investment Outlook According to Vanguard’s newly released Economic and Investment Outlook, the U.S. economy will likely remain resilient with anticipated growth above trend in the new term, but it won’t be immune to the recessionary and deflationary risks.Read more > | |
| Market Mirror | |
U.S. stocks closed effectively flat in quiet trading Wednesday as investors waited to see what the outcome would be of an emergency meeting between Greece and the rest of the Eurozone to discuss the country’s finances, according to the Associated Press. The Dow slipped 6.62 points (0.04%) to 17,862.14, the NASDAQ was up 13.54 points (0.28%) at 4,801.18, and the S&P 500 was virtually unchanged at 2,068.53. The Russell 2000 decreased by 1.62 (0.14%) to 1,201.55, and the Wilshire 5000 closed 6.77 points (0.03%) lower at 21,807.21. On the NYSE, 3.2 billion shares changed hands, with a slight lead for decliners. On the NASDAQ, 2.8 billion shares traded, with 1.2 declining issues for every advancing issue. The price of the 10-year Treasury note decreased 6/32, bringing its yield up to 2.020%. The price of the 30-year Treasury bond was down 8/32, increasing its yield to 2.589%. | |
| Investing | |
| DC Plan Participant Transfers Up in January | |
| Aon Hewitt’s 401(k) Index shows there were five days of above-normal trading activity among defined contribution (DC) plan participants in the month of January 2015–more days than the previous two months combined. The majority of days (75%) favored equities over fixed-income assets—the highest percentage of days per month favoring equities in two years.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1809, Abraham Lincoln was born in Hodgenville, Kentucky. In 1879, the first artificial ice rink opened in North America at Madison Square Garden in New York City. In 1909, the National Association for the Advancement of Colored People (NAACP) was founded. In 1971, James Cash (J.C.) Penney died at the age of 95. In 1999, the five-week impeachment trial of Bill Clinton came to an end, with the Senate voting to acquit the president on both articles of impeachment: perjury and obstruction of justice. | |
| SURVEY SAYS: Saturday is Valentine’s Day, and with President’s Day on Monday, many of us have a long weekend for celebrating both events. But, I’d like to know, do you have plans to celebrate Valentine’s Day? 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 Dash along – and tell your friends/associates they can sign up for their own copy.Read more > | |
News from PLANSPONSOR.com
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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