Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 24th, 2017
Benefits & Administration
Employees May Be Getting the Point of HSAs
Health savings accounts (HSAs) can be used to save for out-of-pocket medical expenses now and in the future, and research from Devenir shows employees are getting it. For one thing, the research shows HSA investment assets reached an estimated $5.5 billion in December 2016. Read more >
Helping Employees Address Longevity in Retirement
Americans are living longer, but many do not have adequate savings to provide for a 20- to 30-year retirement. Until defined contribution (DC) plans embrace annuities, participants need more education about how much they will need to fund a 20- to 30-year retirement and a healthier lifestyle. Read more >
Assessing Global Shift Towards DC
A new research paper from Vanguard examines four countries that are all in “various stages of a shift from defined benefit (DB) to defined contribution (DC) workplace retirement systems.” In each country, people are living longer than ever, and this has challenged the basic assumptions about the workability of providing even basic DB benefits. Read more >
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Products, Deals and People
For those employees who want to make charitable giving part of their long-term financial plan, Global Impact and AFS 401(k) Retirement Services, an independent advisory firm, announced a partnership to provide employers with a toolkit for a strategic program that allows employees to make informed decisions about giving. Read more >
The Tax Center provided by myStockOptoins.com is offering expanded articles and FAQ discussions that spell out the most common mistakes people make with stock grants on their annual tax return. Read more >
Investment Products and Services Launches
HealthSavings Administrators launches HSA with Franklin Templeton funds; Natixis ESG TDF on the horizon; Wilshire Associates rolls out equity hedge fund index; and more. Read more >
Economic Events

In the week ending February 18, the advance figure for seasonally adjusted initial claims for unemployment insurance was 244,000, an increase of 6,000 from the previous week’s revised level of 238,000, the Labor Department reported. The four-week moving average was 241,000, a decrease of 4,000 from the previous week’s revised average of 245,000. This is the lowest level for this average since July 21, 1973, when it was 239,500.

The average interest rate for a 30-year fixed-rate mortgage is 4.16%, up from 4.15% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.37%, up from 3.35%.

Market Mirror

Thursday, the Dow closed 34.72 points (0.17%) higher at 20,810.32, the NASDAQ closed 25.12 points (0.43%) lower at 5,835.51, and the S&P 500 increased by 0.99 (0.04%) to 2,363.81. The Russell 2000 was down 9.23 points (0.66%) at 1,394.62, and the Wilshire 5000 decreased 22.14 points (0.09%) to 24,659.17.

On the NYSE, 3.1 billion shares traded, with a slight lead for advancing issues. On the NASDAQ, 2.8 billion shares changed hands, with 3 decliners for every 2 advancers.

The price of the 10-year Treasury note was up 12/32, decreasing its yield to 2.375%. The price of the 30-year Treasury bond increased 14/32, bringing its yield down to 3.014%.

Compliance
Lehman Stock Drop Suit Passed Over By Supreme Court
After the 2nd U.S. Circuit Court of Appeals agreed with a lower court’s decision that participants in Lehman Brothers’ retirement plan did not plausibly argue that the company breached its fiduciary duty by keeping company stock in the plan when it was not prudent to do so, the Supreme Court now says it will not review the appellate ruling. Read more >
Small Talk

ON THIS DATE: In 1803, the U.S. Supreme Court ruled itself to be the final interpreter of all constitutional issues. In 1863, Arizona was organized as a territory. In 1866, in Washington, D.C., an American flag made entirely of American bunting was displayed for the first time. In 1868, the U.S. House of Representatives impeached President Andrew Johnson due to his attempt to dismiss Secretary of War Edwin M. Stanton. The U.S. Senate later acquitted Johnson. In 1903, in Guantanamo Bay, Cuba, an area was leased to the U.S. for a naval base. In 1945, during World War II, the Philippine capital of Manilla, was liberated by U.S. soldiers. In 1981, Buckingham Palace announced the engagement of Britain’s Prince Charles to Lady Diana Spencer. In 1983, a U.S. congressional commission released a report that condemned the internment of Japanese-Americans during World War II.

 

And now it’s time for FRIDAY FILES!

Fifteen things you’ve been doing wrong. Read more >
Cute little girl misunderstands what a recipe needs. Read more >

In Grafenrheinfeld, Bavaria, a 78-year-old man riding in a horse-drawn carriage scraped a car parked on the side of the road. He continued on without acknowledging his accident, but an eyewitness reported it, according to the Associated Press. Police say a trail of hoof prints and manu.re led them to the suspect’s stable where the man confessed to the accident.

In New Wilmington, Pennsylvania, a college student received two packages from his mother—one was a care package of goodies and one was filled with trash. According to the local ABC News station, When he called to ask why she sent it to him, his mother told him, “that’s the trash you were supposed to take out” during a recent visit home.

In Albuquerque, New Mexico, officers received reports of a black Volkswagen driving recklessly. They discovered a woman passed out in her car parked partly in the roadway and partly in a driveway. She woke up when the officers spoke to her and got out of the car. According to the Huffington Post, when the officer gave her instructions for performing a field sobriety test, she started doing cartwheels, falling at times in between. The office got frustrated and when she hit one of the officers during a cartwheel, she was stopped and arrested.

In Columbus, Ohio, relatives of a 91-year-old woman who died wrote her obituary in her perspective. The obituary says, “I was born. I lived. I died,” and instructs people to “wait the appropriate amount of time” before trying to claim her stuff. The woman’s daughter told The Columbus Dispatch the obituary celebrates a blunt woman who lived unapologetically. It also promises an “after-party” following the funeral but warns: “If you are sick, don’t bother to come. I might be dead, but I still don’t want your germs.”

Have a great weekend, everyone!

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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