Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 13th, 2017
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PLANSPONSOR DC Survey Standouts
PLANSPONSOR Announces Defined Contribution Survey Standouts
Thirteen service providers to be recognized at the annual PLANSPONSOR/PLANADVISER Awards for Excellence dinner March 30.  Read more >
MOST READ ARTICLES
1
The Senate Math That Could Block SECURE Act
2
House Committee Advances Bill to Establish Union Pension Lifeline Program
3
Open MEPs Not for Every Plan Sponsor
4
Driving Financial Wellness at Work
5
Pension Participants Claim ERISA Breaches in Dow DuPont Pension Transfer
Benefits & Administration
Plan Sponsors’ and Advisers’ Goals Sometimes Misaligned
There are several disconnects between the perceptions of defined contribution (DC) retirement plan sponsors and advisers, according to surveys by Voya Investment Management. The surveys suggest that helping plan participants become retirement ready is an important concern for sponsors, but they place less emphasis than advisers on the means to achieve it.  Read more >
Products, Deals and People
PEI Offers Help for Mid-Sized DB Plan Sponsors
According to Portfolio Evaluations, Inc. (PEI), recent market research suggests that sponsors of mid-sized defined benefit (DB) plans (those with assets of between $50 and $500 million) remain most concerned with risk management, lower future return expectations and stock market volatility. However, what the company finds more concerning is these same surveys also indicate that many DB plan sponsors have yet to formally develop a goal for their retirement programs, nor have they designed a road map for getting there. In an article, the company offers sample governance and investment procedures designed to help plan sponsors get back on track toward achieving plan objectives.  Read more >
Investment Products and Services Launches
First Eagle to add retirement shares to mutual funds; BCM expands smart beta solutions; Conning unveils LDI pooled fund suite; and more.  Read more >
Economic Events

In the week ending January 7, the advance figure for seasonally adjusted initial claims for unemployment insurance was 247,000, an increase of 10,000 from the previous week’s revised level of 237,000, the Labor Department reported. The four-week moving average was 256,500, a decrease of 1,750 from the previous week’s revised average of 258,250.

The average interest rate for a 30-year fixed-rate mortgage is 4.12%, down from 4.20%, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.37%, down from 3.44%. 

Market Mirror

Thursday, the Dow lost 63.28 points (0.32%) to finish at 19,891.00, the NASDAQ decreased 16.16 points (0.29%) to 5,547.49, and the S&P 500 was down 4.88 points (0.21%) at 2,270.44. The Russell 2000 fell 12.23 points (0.89%) to 1,361.06, and the Wilshire 5000 closed 69.40 points (0.29%) lower at 23,738.88.

On the NYSE, 3.1 billion shares traded, with 3 declining issues for every 2 advancing issues. On the NASDAQ, 2.9 billion shares changed hands, with a near 2 to 1 lead for decliners.

The price of the 10-year Treasury note was up 6/32, decreasing its yield to 2.355%. The price of the 30-year Treasury bond was down 4/32, increasing its yield to 2.961%. 

Small Talk

ON THIS DATE: In 1794, U.S. President George Washington approved a measure adding two stars and two stripes to the American flag, following the admission of Vermont and Kentucky to the union. In 1854, Anthony Faas of Philadelphia was granted the first U.S. patent for the accordion. He made improvements to the keyboard and enhanced the sound. In 1928, Ernst F. W. Alexanderson gave the first public demonstration of television. In 1966, Robert C. Weaver became the first black Cabinet member when he was appointed Secretary of Housing and Urban Development by U.S. President Lyndon Johnson. In 1990, L. Douglas Wilder of Virginia, the nation’s first elected black governor, took the oath of office in Richmond. In 1997, Debbie Reynolds received a star on the Hollywood Walk of Fame. In 1999, Michael Jordan (Chicago Bulls) announced his retirement from the NBA. In 2002, the exhibit “In the Spirit of Martin: The Living Legacy of Dr. Martin Luther King, Jr.” opened at the Charles H. Wright Museum of African American History. More than 100 artists supplied the collection of 120 works of art.

 

And now it’s time for FRIDAY FILES

Slipping on ice is not funny when you’re experiencing it, but it can be funny to watch. Despite what it says, keep the sound low.  Read more >
These dogs just do not like bath time.  Read more >
Poor dog mistakes algae for grass.  Read more >

In Millersville, West Virginia, a man stole tools from the auto repair shop where he worked. He then proceeded to call folks to try to sell the tools. According to the Times West Virginian, one of the calls he made was to the owner of his workplace. When he realized whom he had called, he hung up. However, the owner called police and the man has since been arrested.

In Jacksonville, Florida, employees at a Jimmy John’s posted on SnapChat a video of themselves jumping rope with dough. Of course, this raised a firestorm of comments. The Jimmy John’s owner issued a statement that said the dough was discarded and the employees were fired, according to the local CBS News station.

In Roseville, Michigan, a man was issued a ticket for something a lot of us do in the cold weather—warming up his car. The man left the car running in his driveway for about five minutes while he was inside his home and returned to the car to find a $125 ticket for a local ordinance violation of leaving a motor vehicle unattended. According to the Associated Press, the Roseville Police Chief is standing by the officer who issued the ticket, saying it’s a public safety issue because a thief could have easily taken the car.

In Joliet, Illinois, two teenage girls thought they would go on an adventure and entered the abandoned Joliet Correctional Center through a hole in its fence. However, during the adventure, one of the girls accidentally locked herself inside of a cell. The other girl got firefighters to the site and the locked up girl was released after 45 minutes, according The Joliet Herald-News. The girls will be charged with trespassing.

Happy 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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