Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 22nd, 2016
Benefits & Administration
What Can Occasional Increases Do for Retirement Savings?
Fidelity recognizes that Millennials will have a lot of expenses during their working lives, such as saving for a home, paying off student debt or unexpected health care costs. With this in mind, Fidelity studied the benefit of increasing savings by 1% every five years for a total increase of 5% over 25 years.Read more >
Stock Market Volatility Shouldn’t Slow Retirements
Two professors of economics at Wellesley College investigated the effect of stock market fluctuations on retirement decisions in the United States using data during the 2008-2009 recession and the dot-com crash of 2000–2002, and found short-term market dives do not generally slow retirements.Read more >
Data and Research
Employers Expect to Raise Pay in 2023 Beyond 2022 Increases
Struggling Teamsters Pension Receives Close to a Billion Dollars in Assistance
DOL Finalizes ESG Consideration in Retirement Investing
Products, Deals and People
OneAmerica Offers Plan Sponsors LPL’s Guidance
OneAmerica plan sponsor clients will now be able to take advantage of LPL Financial’s Worksite Financial Solutions platform. The company has made available to plan sponsor clients Worksite Financial Solutions’ Employee Transition and Engagement Solutions, which was created to support employees during times of transition, including when they join a plan and upon employment separation.Read more >
John Weber, managing principal of Findley Davies, has relocated to the Columbus, Ohio, office from Charlotte, North Carolina. Mike Coffey, managing consultant, has relocated to Columbus from Findley Davies’ Chicago office in response to the firm’s increasing market share in defined benefit (DB) administration.Read more >
TIAA-CREF Simplifies Name and Participant Experience
The mission remains the same—retirement security for workers in the non-profit space—but TIAA-CREF is trimming its name to TIAA and radically simplifying its website.Read more >
Economic Events

On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in January after declining 0.1% in December, the Bureau of Labor Statistics reported. The index for all items less food and energy rose 0.3% in January after increasing 0.2% in December.

Real average hourly earnings increased 0.4% in January, seasonally adjusted. Average hourly earnings increased 0.5%, and CPI-U was unchanged. Real average weekly earnings increased 0.7% over the month.

THE ECONOMIC WEEK AHEAD: Tomorrow, the Conference Board will release its Consumer Confidence Index for February, and the National Association of Realtors will report about existing home sales in January. Wednesday, the Census Bureau will report about new home sales in January. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders for January.
Market Mirror

Friday, the Dow was down 21.44 points (0.13%) at 16,391.99, the NASDAQ closed 16.89 points (0.38%) higher at 4,504.43, and the S&P 500 decreased by 1.44 (0.08%) to 1,916.39. The Russell 2000 increased 5.31 points (0.53%) to 1,010.01, and the Wilshire 5000 was up 5.08 points (0.03%) at 19,552.29.

On the NYSE, 3.1 billion shares changed hands, with a slight lead for decliners. On the NASDAQ, 2.7 billion shares traded, with a 1.3 to 1 ratio of advancing issues to declining issues.

The price of the 10-year Treasury note decreased 4/32, bringing its yield up to 1.754%. The price of the 30-year Treasury bond was down 3/32, increasing its yield to 2.616%.

WEEK’S WORTH: For the week ending February 19, the Dow was up 2.62%, the NASDAQ gained 3.85%, and the S&P 500 increased 2.77%. The Russell 2000 climbed 3.91%, and the Wilshire 5000 finished 2.99% higher.
From the Magazine
Piloting Your Plan: Advisers Can Be Vital Support
The scope of a plan adviser’s competencies can be specific or broad—ranging from advising about and reviewing investment options, to educating the investment committee and participants, to assisting with plan due diligence and fiduciary responsibilities, some of which it may help the sponsor outsource.Read more >
Small Talk

EDITOR’S NOTE: Yes, we know The Onion is a satirical news site, and we thought it would be funny to include one of its stories in FRIDAY FILES. However, based on feedback received, we will scratch that idea. Thanks for your feedback.


ON THIS DATE: In 1630, Quadequine introduced popcorn to English colonists at their first Thanksgiving dinner. In 1819, Spain ceded Florida to the United States. In 1860, organized baseball’s first game was played in San Francisco. In 1865, in the U.S., Tennessee adopted a new constitution that abolished slavery. In 1879, in Utica, New York, Frank W. Woolworth opened his first 5- and 10-cent store. In 1885, the Washington Monument was officially dedicated in Washington, D.C. It opened to the public in 1889. In 1924, U.S. President Calvin Coolidge delivered the first presidential radio broadcast from the White House. In 1997, Scottish scientist Ian Wilmut and colleagues announced that an adult sheep had been successfully cloned. Dolly was actually born on July 5, 1996. Dolly was the first mammal to have been successfully cloned from an adult cell.
SURVEY SAYS RESPONSES: last week, I asked NewsDash readers, “What co-worker actions annoy you?” I apologize that I forgot to toggle the first question to allow multiple answers; this probably explains why most responses were “other” (34.8%) or “all of the above” (28.8%). However, among those who selected just one annoying behavior—and I assume these are the MOST annoying to them—“kissing up to the boss” and “doing poor work or not as much work as others” topped the list with 6.1% of votes each. Asked if they confront their co-workers about annoying behavior, 10.6% of responding readers said yes, 39.4% said no, and 50% reported they sometimes do. Readers who left comments shared specific stories about annoying co-workers, listed even more annoying behaviors, suggested workers should practice tolerance, and pointed out we can all be annoying sometimes: “Of course I’m never annoying, except when I am annoying.” Editor’s Choice goes to the reader who said: “I just don’t understand why everyone can’t be as perfect as me.” A big thank you to all who participated in the survey!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 >

Editorial: Alison Cooke Mintzer


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