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| Ask the Experts | |
| Ask the Experts – ACP Testing After a Merger | |
| “Our hospital merged with another private tax-exempt hospital last year, and both hospitals are now part of the same controlled group for retirement plan testing purposes. How is ACP testing affected, if at all?”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 > | |
| Products, Deals & People | |
| New Solution Helps Retirees Continue Benefits | |
| The RetireeZone Web portal from Buck Consultants at Xerox gives employers the ability to offer voluntary benefits coverage to retirees, without increasing company payroll and benefits costs. “Retirees need to replace coverage they had as active employees, but often have budget issues as they plan their retirement lifestyle,” says Jim Gallic, a principal with Buck Consultants at Xerox. “Employers usually don’t have the time, knowledge or ability to address these needs. RetireeZone offers a strategy to deal with these pressing concerns.”Read more > | |
| Economic Events | |
Privately owned housing completions in January were at a seasonally adjusted annual rate of 930,000, the Census Bureau reports. This is 1.3% above the revised December estimate of 918,000 and is 9.4% above the January 2014 rate of 850,000. Single-family housing completions in January were at a rate of 649,000. This is 2.3% below the revised December rate of 664,000. The January rate for units in buildings with five units or more was 274,000. The Producer Price Index for final demand decreased 0.8% in January, according to the Bureau of Labor Statistics. Final demand prices moved down 0.2% in both December and November. In January, the index for final demand goods dropped 2.1%, and prices for final demand services fell 0.2%. | |
| Market Mirror | |
Major U.S. stock indices ended mixed but little changed Wednesday after minutes from a Federal Reserve meeting in January showed that policymakers were in no hurry to raise interest rates. The Dow was down 17.73 points (0.10%) at 18,029.85, the NASDAQ was up 7.10 points (0.14%) at 4,906.36, and the S&P 500 decreased by 0.66 of a point (0.03%) to 2,099.68. The Russell 2000 closed 2.94 points (0.24%) higher at 1,227.95, and the Wilshire 5000 ticked up 8.72 points (0.04%) to 22,161.03. On the NYSE, 3.2 billion shares traded, with 1.2 advancing issues for every declining issue. On the NASDAQ, 2.8 billion shares changed hands, with a slight lead for advancers. The price of the 10-year Treasury noted increased 18/32, bringing its yield down to 2.079%. The price of the 30-year Treasury bond was up 17/32, decreasing its yield to 2.708%. | |
| Investing | |
| DB Investment Consultants Look Globally for Growth | |
| A new report from Cerulli Associates notes that during the past year, robust equity markets decreased the value of pension liabilities, and resulted in improved funding levels for many corporate defined benefit (DB) plans. As more pension plans’ funded status is enhanced, those that are on liability-driven investing (LDI) glidepaths will start to reduce their return-seeking risky assets and replace them with fixed income. More than half (56%) of investment consultants surveyed by Cerulli indicated they are likely to increase their corporate DB clients’ U.S. fixed-income exposure during the next one- to two-year period. However, with traditional fixed-income investments continuing to provide unattractive returns, consultants are looking for opportunities overseas.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1878, Thomas Alva Edison was awarded U.S. Patent No. 200,521 for the phonograph. In 1942, U.S. President Franklin Roosevelt signed an executive order giving the military the authority to relocate and intern Japanese-Americans. In 2004, former Enron Corp. chief executive Jeffrey Skilling was charged with fraud, insider trading and other crimes in connection with the energy trader’s collapse. Skilling was later convicted and sentenced to more than 24 years in prison. | |
| SURVEY SAYS: To do their job well, retirement plan committees need to keep up with the latest plan design and investment trends. This week, I’d like to know, do you think your company’s retirement plan committee is in tune with the latest trends? Do you think it’s helpful for non-executive employees to serve on retirement plan committees? 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 > | |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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