Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 26th, 2019
From the Magazine
The 401(k) Turns the Big 4-0
The 401(k) turned 40 on November 6. Over the last four decades, this retirement plan has evolved in a number of ways—including by developing call centers, advisory services, online account management, and communication and education programs, not to mention integrating mobile and digital capabilities—to become the centerpiece of employer-sponsored retirement benefit programs. It is its own brand, in a way. “What other section of the Internal Revenue Code [IRC] do Americans know?” said Charlie Nelson, CEO of retirement and employee benefits at Voya Financial, at a birthday celebration for the 401(k), hosted by his company at the New York Stock Exchange (NYSE). Read more >
Products, Deals and People
America Saves Week Promotional Materials Available
The Employee Benefit Research Institute (EBRI) and the American Savings Education Council (ASEC) have announced the availability of promotional materials for America Saves Week, February 15 through March 2. Read more >
MOST READ ARTICLES
1
IRS Issues Guidance About Uncashed Retirement Plan Distributions
2
Options for Providing Student Loan Repayment Benefits Increasing
3
Taking a ‘Calculated’ Approach to Retirement Readiness
4
Litigators Share What They Investigate for Filing TDF Lawsuits
5
Government Prosecutors Weigh In on Supreme Court IBM Case
Economic Events

December 2018 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $497.2 billion, down 1.0% from the revised November level, but up 1.0% from the December 2017 level, the Census Bureau reported. The October 2018 to November 2018 percent change was revised from the preliminary estimate of down 0.6% to down 1.2%.

Market Mirror

Yesterday, the Dow closed 60.14 points (0.23%) higher at 26,091.95, the NASDAQ gained 26.92 points (0.36%) to finish at 7,554.46, and the S&P 500 was up 3.44 points (0.12%) at 2,796.11. The Russell 2000 was down 1.26 points (0.08%) at 1,588.81, and the Wilshire 5000 increased 34.94 points (0.12%) to 29,021.22.

 

The price of the 10-year Treasury note was down 3/32, increasing its yield to 2.664%. The price of the 30-year Treasury bond decreased 10/32, bringing its yield up to 3.030%.

Compliance
IRS Updates FAQs for Adopting a Pre-Appproved Retirement Plan Document
The web page provides information for retirement plan sponsors who have individually designed retirement plan documents but want to adopt a pre-approved prototype or volume submitter plan document. Read more >
Benefits & Administration
401(k) Plan Costs Continue to Decrease
While total plan costs have declined for most plan sizes, the latest 401k Averages Book continues to show smaller plans pay higher fees than large plans. Read more >
Small Talk

ON THIS DATE: In 1863, President Abraham Lincoln signed the National Currency Act to create a federally-operated national banking system and to standardize a national currency. In 1870, in New York City, the first pneumatic-powered subway line was opened to the public. In 1919, in Arizona, the Grand Canyon was established as a National Park with an act of Congress. In 1929, President Calvin Coolidge signed a bill creating the Grand Teton National Park. In 1930, New York City installed traffic lights. In 1933, a ground-breaking ceremony was held at Crissy Field for the Golden Gate Bridge. In 1952, British Prime Minister Winston Churchill announced that Britain had developed an atomic bomb. In 1993, six people were killed and more than a thousand injured when a van exploded in the parking garage beneath the World Trade Center in New York City. The bomb had been built by Islamic extremists. In 2009, the Pentagon reversed its 18-year policy of not allowing media to cover returning war dead. The reversal allowed some media coverage with family approval.

TRIVIAL PURSUITS: Who invented sweatpants? Read more >
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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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