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| Products, Deals and People | |
| NTSA Launches Financial Literacy Program for Teachers and Staff | |
| In support of the National Tax-Deferred Savings Association’s (NTSA)’s dual goals of improving the understanding of retirement planning options and improving participation rates in 403(b) plans, the organization has created a comprehensive retirement educational program that is available to school districts and their employees across the United States.Read more > | |
| Economic Events | |
Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,078,000, the Census Bureau reported. This is 11.2% below the revised November estimate of 1,214,000 and is 10.9% below the December 2017 rate of 1,210,000. Single‐family housing starts in December were at a rate of 758,000; this is 6.7% below the revised November figure of 812,000. The December rate for units in buildings with five units or more was 302,000. The Conference Board Consumer Confidence Index increased in February, following a decline in January. The Index now stands at 131.4 (1985=100), up from 121.7 in January. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—improved, from 170.2 to 173.5. The Expectations Index—based on consumers’ short-term outlook for income, business and labor market conditions—increased from 89.4 last month to 103.4 this month. | |
| Market Mirror | |
Tuesday, the Dow closed 33.97 points (0.13%) lower at 26,057.98, the NASDAQ was down 5.16 points (0.07%) at 7,549.30, and the S&P 500 decreased 2.21 points (0.08%) to 2,793.90. The Russell 2000 fell 11.32 points (0.71%) to 1,577.48, and the Wilshire 5000 lost 50.91 points (0.18%) to finish at 28,970.40. The price of the 10-year Treasury note was up 6/32, decreasing its yield to 2.644%. The price of the 30-year Treasury bond increased 14/32, bringing its yield down to 3.008%. | |
| Compliance | |
| IRS Requests Comments on Information Collection for 403(b) Plan Auto Enrollment | |
| Among other things, comments are invited on ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology.Read more > | |
| Ask the Experts | |
| Can 403(b) Assets Be Transferred Into a New 401(k) Plan? | |
| “Are there any circumstances under which a plan sponsor of a 501(c)(3) mon-profit organization can convert a 403(b) plan to a 401(k) and transfer assets from the 403(b) plan to a 401(k)?”Read more > | |
| Small Talk | |
| The Tooth Fairy’s purse strings appear to be tighter than a year ago with the average monetary payout down by 43 cents, according to the Original Tooth Fairy Poll sponsored by Delta Dental. The Tooth Fairy’s average cash gift declined to $3.70 for a lost tooth, down from $4.13 one year ago. Delta Dental says the Original Tooth Fairy Poll has typically served as a good indicator of the economy’s overall direction, tracking with the movement of Standard & Poor’s 500 Index (S&P 500) for 14 of the past 17 years. However, not all parents polled say the Tooth Fairy is following the national average.Read more > | |
ON THIS DATE: In 1827, New Orleans held its first Mardi Gras celebration. In 1922, the U.S. Supreme Court upheld the 19th Amendment that guaranteed women the right to vote. In 1951, the 22nd Amendment to the U.S. Constitution was ratified, limiting presidents to two terms. In 1974, “People” magazine was first issued by Time-Life. In 1986, the Senate approved the telecast of its debates on a trial basis. In 1990, the Exxon Corporation and Exxon Shipping were indicted on five criminal counts in reference to the 1989 Exxon Valdez oil spill. In 1997, Don Cornelius received a star on the Hollywood Walk of Fame. In 1998, Britain’s House of Lords agreed to give a monarch’s first-born daughter the same claim to the throne as any first-born son. This was the end to 1,000 years of male preference.
WEDNESDAY WISDOM: “The actions of men are the best interpreters of their thoughts.”—James Joyce, Irish novelist | |
| Share the news with a friend! Pass the NewsDash 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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