| | Benefits & Administration | | Few Making Plans for Lifetime Income | | Eighty-four percent of Americans want a guaranteed monthly paycheck in retirement, but only 14% have taken steps to ensure lifetime income with the purchase of an annuity, according to the TIAA-CREF 2015 Lifetime Income Survey. Also troubling, 44% of Americans are not sure whether receiving regular monthly income in retirement is even an option under their current retirement plan/plans. The survey results emphasize the need for better education about lifetime income options, TIAA-CREF says, and how lifetime income planning can provide financial security for people lacking pensions.Read more > | | | Ask the Experts | | Ask the Experts – What Is a FICA Alternative Plan? | | “I recently started working in the employee benefits
department at a large public university. Among the retirement plans that they
sponsor is something called a ‘FICA alternative’ plan, but I can locate little
information about the plan. Can the Experts tell me if they have ever heard of
such a plan?”Read more > | | | Economic Events | | New orders for manufactured goods in
December, down five consecutive months, decreased $16.4 billion or 3.4% to
$471.5 billion, the U.S. Census Bureau reported. This followed a 1.7% November
decrease. Excluding transportation, new orders decreased 2.3%. Shipments, down
four of the last five months, decreased $5.3 billion or 1.1% to $488.2 billion.
This followed a 1.0% November decrease. | | | Market Mirror | | A 7% increase
in the price of oil gave investors hope that the long-running collapse in oil
prices could be ending, helping U.S. stock indices end higher Tuesday. The Dow
gained 305.36 points (1.76%) to finish at 17,666.40, the NASDAQ was up 51.05
points (1.09%) at 4,727.74, and the S&P 500 increased 29.14 points (1.44%)
to 2,049.99. The Russell 2000 climbed 21.45 points (1.82%) to 1,196.96, and the
Wilshire 5000 closed 314.31 points (1.47%) higher at 21,624.78.
On the NYSE,
3.2 billion shares traded, with a 4 to 1 lead for advancers. On the NASDAQ, 2.8
billion shares changed hands, with 2.6 advancing issues for every declining
issue.
The price of
the 10-year Treasury note decreased 1 4/32, bringing its yield up to 1.791%.
The price of the 30-year Treasury bond fell 2 28/32, increasing its yield to
2.380%.
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