Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 19th, 2016
Benefits & Administration
Jellyvision, an employee benefits communication technology company, shared with PLANSPONSOR some tips for employers to use when educating participants about the Form 1095-C proof of health insurance.Read more >
Millennials Committed to Saving
More than three in four Millennial workers with access to an employer-sponsored retirement plan make consistent contributions from their paycheck to the retirement plan or to a savings account, compared with 43% of those without access to an employer-sponsored plan, according to a poll by Young Invincibles, a national advocacy group that aims to engage young adults on financial issues, higher education, health care and jobs. Overall, two-thirds (67%) of full- and part-time working Millennials surveyed are saving consistently. But, not all Millennials have access to an employer-sponsored retirement plan.Read more >
MOST READ ARTICLES
1
How to Effectively Measure Retirement Plan Success
2
2020 Recordkeeping Survey
3
CARES Act Considerations: CRDs, RMDs, Taxes and More
4
The NQDC Market
5
Settlement Reached in Insperity 401(k) Excessive Fee, Self-Dealing Suit
Employee Wellness Motivated More by Loss than Gain
Employer wellness program financial incentives framed as a loss are most effective for achieving physical activity goals, a study found.Read more >
Products, Deals and People
New Managed Account QDIA Built on CIT Portfolios
A new managed account qualified default investment alternative (QDIA) has been added to The Guardian Choice and The Guardian Advantage programs, built around collective investment trust (CIT) portfolios from independent investment advisory Brinker Capital Destinations.Read more >
ICMA-RC, a provider of retirement plans exclusively for public-sector employees, is participating in America Saves Week, in part by promoting several digital resources specifically for the week, including its new “Grow Your Savings” calculator.Read more >
Retirement Plan Adviser Search Service Expanded
Retirement Playbook Inc. has provided its retirement plan adviser search service regionally for the past two years and is expanding it nationally, according to Trisha Brambley, chief executive of Retirement Playbook. The service offers development of a customized short list of retirement plan investment consultant/adviser candidates for plan sponsors that want to do a review of retirement plan investment consultants/plan advisers on their own but need help developing a list of candidates. There are also other service levels.Read more >
Economic Events

In the week ending February 13, the advance figure for seasonally adjusted initial claims for unemployment insurance was 262,000, a decrease of 7,000 from the previous week’s unrevised level of 269,000, the Labor Department reported. The 4-week moving average was 273,250, a decrease of 8,000 from the previous week’s unrevised average of 281,250.

The average interest rate for a 30-year fixed-rate mortgage is 3.65%, unchanged from one week ago. The average interest rate for a 15-year fixed rate mortgage is also unchanged at 2.95%.
Market Mirror

Major U.S. stock indices lost ground Thursday as several companies issued weak earnings reports, according to the Associated Press. The Dow was down 40.40 points (0.25%) at 16,413.43, the NASDAQ fell 46.53 points (1.03%) to 4,487.54, and the S&P 500 closed 8.99 points (0.47%) lower at 1,917.83. The Russell 2000 lost 6.43 points (0.64%) to finish at 1,004.70, and the Wilshire 5000 decreased 82.79 points (0.42%) to 19,547.21.

On the NYSE, 3.1 billion shares traded, with a slight lead for advancers. On the NASDAQ, 2.6 billion shares changed hands, with 3 declining issues for every 2 advancing issues.

The price of the 10-year Treasury note increased 25/32, bringing its yield down to 1.736%. The price of the 30-year Treasury bond climbed 1 18/32, decreasing its yield to 2.609%.
Compliance
DOL Recovers $1.7M in Wrongly Distributed Plan Assets
A federal judge has ordered an Illinois home health care provider and two of its officers to repay a total of $1,736,339 to the Alliance Home Healthcare Inc. Profit Sharing Plan. A Department of Labor (DOL) investigation found two officers of Alliance Home Healthcare transferred and distributed more than $1.6 million from the company’s profit sharing plan to themselves, the company, and others.Read more >
Small Talk

ON THIS DATE: In 1807, former U.S. Vice President Aaron Burr was arrested in Alabama. He was later tried and acquitted on charges of treason. In 1878, Thomas Alva Edison patented a music player (the phonograph). In 1881, Kansas became the first state to prohibit all alcoholic beverages. In 1942, U.S. President Franklin Roosevelt signed an executive order giving the military the authority to relocate and intern Japanese-Americans. In 1945, during World War II, about 30,000 U.S. Marines landed on Iwo Jima. In 1985, William Schroeder became the first artificial-heart patient to leave the confines of the hospital. In 1985, Cherry Coke was introduced by the Coca-Cola Company. In 1999, Dennis Franz received a star on the Hollywood Walk of Fame. In 2002, NASA’s Mars Odyssey spacecraft began using its thermal emission imaging system to map Mars.

 

And now it’s time for FRIDAY FILES!
Some cool tricks to show your friends.Read more >
This grandma crossed skydiving off her bucket list, but she’ll need some new teeth.Read more >

In Cádiz, Spain, a water treatment plant was to give an award for an employee’s 20 years of loyal service. That is, until they found out he hadn’t been working for the last six years. According to the Huffington Post, the building supervisor quietly collected a $41,500 salary from his local government without showing up for work. “I wondered whether he was still working there—had he retired, had he died? But the payroll showed he was still receiving a salary,” deputy mayor Jorge Blas told Spanish newspaper El Mundo. Garcia’s attorney, speaking on his behalf, reportedly blamed bullying at his workplace for his absence. He also said there was no work to do. People close to Garcia told El Mundo he dedicated himself to reading philosophy instead, and that he did not report the bullying out of fear that he could be fired.

In DeLand, Florida, a man called 911 at least six times in one day. According to the Huffington post, among other things he asked dispatchers to throw people out of homes in order to “serve and protect,” tried to report an emergency at the White House, and told dispatchers his emergency was being “poor” and not able to vote. Dispatchers also said he hung up on two occasions when they tried to transfer him to a non-emergency line. A police officer was sent to the man’s home. When the officer asked him what he was doing, he said, “talking to your dispatcher because I’m bored.”

In Alamo, California, a man was distressed about running out of family photos to put on the computer. According to The Onion, the project has occupied many of his weeknights and Saturday afternoons since he came across a scanner on sale at a local electronics retailer three months ago. He told reporters, “I suppose I could still go through and take the red-eye out of them. And I should get a hard drive to back them up on, in case something happens to my computer. Maybe I’ll check the attic again to make sure I’m not missing any old school portraits.” However, sources now say he has taken on the task of going back through each image and adding approximate dates.

Happy weekend, everyone!
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 >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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