Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 4th, 2019

Gen Xers Need a New Focus for Saving and Investing Amid Market Volatility

How the middle generation can protect retirement assets, even with the consequences of market volatility. Read more >
Compliance
Anthem 401(k) Fiduciaries Denied Summary Judgment in Fee Case
A federal judge found that the plaintiffs provided more than enough evidence to support excessive fee claims, noting that, “Plaintiffs cite deposition testimony of Anthem employees and Pension Committee members who indicate they do not understand the difference between different kinds of share classes or did not ask Vanguard whether lower-cost fee arrangements were available for the plan.” Read more >
From the Magazine
A Critical Mass
“The industry will reach a critical mass in the near future, where the sum of automatic enrollment dollars outpaces Baby Boomer withdrawals,” Brooks Herman, vice president of data and research at Strategic Insight, the parent company of PLANSPONSOR, says. “At that point, we’ll see inflows just increase in 401(k) accounts thereafter.” Read more >
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Adidas Sued Over Excessive Fees for 401(k) Participants
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Sponsored message from MetLife
Making Savings Last A Lifetime
PLANSPONSOR recently spoke with Tim Brown, Senior Vice President, Life & Income Funding Solutions at MetLife, on the changes in mindset and risk perspective for both retiring participants and plan sponsors, and building out the “last mile” of DC plans with guaranteed solutions for retirement income. Read more >
Economic Events

Total construction activity for November 2018 ($1,299.9 billion) was 0.8% above the revised October 2018 figure of $1,289.7 billion, the Census Bureau reported.

 

November 2018 sales of merchant wholesalers were $505.3 billion, down 0.6% from the previous month. End-of-month inventories were $654.0 billion, up 0.3% from October.

 

Total nonfarm payroll employment increased by 304,000 in January, and the unemployment rate edged up to 4%, according to the Bureau of Labor Statistics. Job gains occurred in several industries, including leisure and hospitality, construction, health care, and transportation and warehousing.

 

THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about factory orders for November. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about wholesale trade for December.

Market Mirror

Friday, the Dow gained 64.22 points (0.26%) to finish at 25,063.89, the NASDAQ decreased 17.87 points (0.25%) to 7,263.87, and the S&P 500 was up 2.43 points (0.09%) at 2,706.53. The Russell 2000 increased 2.64 points (0.18%) to 1,502.05, and the Wilshire 5000 closed 34.31 points (0.12%) higher at 28,026.76.

 

The price of the 10-year Treasury note decreased 15/32, bringing its yield up to 2.683%. The price of the 30-year Treasury bond fell 21/32, increasing its yield to 3.029%.

 

WEEK’S WORTH: For the week ending February 1, the Dow increased 1.32%, the NASDAQ finished 1.38% higher, and the S&P 500 gained 1.57%. The Russell 2000 was up 1.29%, and the Wilshire 5000 climbed 1.65%.

Products, Deals and People
Retirement Industry People Moves
Voya names Government practice leader; Mercer reveals key leadership appointments; JHRPS discloses succession of TPA head; and more. Read more >
ICMA-RC’s Retirement Roadmap Ensures Relevant Advice Is Given to Participants
“The Retirement Roadmap provides a framework for tailored meetings and one-on-one discussions to help participants succeed throughout each stage of their careers,” says Joseph Teague, managing vice president, field sales and relationship management at ICMA-RC. Read more >
Small Talk

ON THIS DATE: In 1783, Britain declared a formal cessation of hostilities with its former colonies, the United States of America. In 1789, electors unanimously chose George Washington to be the first president of the United States. In 1824, J.W. Goodrich introduced rubber galoshes to the public. In 1847, in Maryland, the first U.S. Telegraph Company was established. In 1861, delegates from six southern states met in Montgomery, Alabama, to form the Confederate States of America. In 1932, the U.S. hosted its first Winter Olympics in Lake Placid, New York. In 1945, during World War II, U.S. President Franklin Roosevelt, British Prime Minister Winston Churchill and Soviet leader Josef Stalin began a conference at Yalta to outline plans for Germany’s defeat. In 1952, Jackie Robinson was named Director of Communication for NBC. He was the first black executive of a major radio-TV network. In 1957, Smith-Corona Manufacturing Inc. began selling portable electric typewriters. The first machine weighed 19 pounds. In 1964, the Administrator of General Services announced that the 24th Amendment to the U.S. Constitution had been ratified. The amendment banned the poll tax. In 2004, the social networking website Facebook.com was launched.

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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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