Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 22nd, 2016
Benefits & Administration
Retiree Health Costs Greater for Singles Than Couples
Singles and couples age 65 and older tend to face sharply different expenses for non-recurring health care services such as home health care, nursing home stays, overnight hospital stays and outpatient surgery, according to research by the Employee Benefit Research Institute (EBRI).Read more >
Majority of Workers Feel Burdened by Financial Stress
The majority of employees feel burdened by money-related stress, with 68% of respondents to Francis Investment Counsel’s 2015 retirement plan participant survey daily experiencing some level of financial stress.Read more >
MOST READ ARTICLES
Participants
What Participants Want From Employers’ Retirement Plan Websites
Research
2021 Recordkeeping Survey
Inside Angle
DOL’s Next Moves
Advisers Boost Retirement Preparedness
People who work with an adviser are twice as likely to be on track for retirement, John Hancock Retirement Plan Services found in its 2015 Financial Stress Survey. Among those who work with an adviser, 70% are on track or are even ahead in saving for retirement, compared to 33% of those who are not working with an adviser.Read more >
PPA a Top-Ranked Influence on DC Plan Management
The 2006 Pension Protection Act (PPA) and the Department of Labor’s (DOL’s) fee disclosure requirements issued in 2011 and 2012 tied as the top-ranking event influencing the management of defined contribution (DC) plans, according to Callan’s 2016 Defined Contribution Trends report. The PPA set the stage for wide adoption of automatic features in DC plans and made Roth contributions permanently available for DC plan participants, among other things. DC plan stats show the effect the Pension Protection Act had on plans.Read more >
Sponsored message from BlackRock
DC Fixed Income: The World Has Changed. It’s Time to Catch Up
Learn how DC plans should respond to a fixed income environment that is more complicated than anything we’ve seen in decades.Read more >
Products, Deals and People
Investment Product Launches
Vanguard reopens money market fund ahead of SEC changes; Wells Fargo offers enhanced pension metrics reporting.Read more >
Economic Events

In the week ending January 16, the advance figure for seasonally adjusted initial claims for unemployment insurance was 293,000, an increase of 10,000 from the previous week’s revised level, the Labor Department reported. The four-week moving average was 285,000, an increase of 6,500 from the previous week’s revised average.

The average interest rate for a 30-year fixed-rate mortgage is 3.81%, down from 3.92% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.10%, down from 3.19%.
Market Mirror

U.S. stock indices closed mostly higher Thursday, led by a rebound in oil and gas companies as energy prices recovered from a steep drop the day before, according to the Associated Press. The Dow climbed 115.94 points (0.74%) to 15,882.68, the NASDAQ increased by 0.37 (0.01%) to 4,472.06, and the S&P 500 closed 9.65 points (0.52%) higher at 1,868.98. The Russell 2000 decreased by 1.97 (0.20%) to 997.34, and the Wilshire 5000 gained 83.68 points (0.44%) to finish at 19,072.64.

On the NYSE, 3.1 billion shares changed hands, with advancing issues outnumbering declining issues nearly 2 to 1. On the NASDAQ, 2.7 billion shares traded, with a slight lead for advancers.

The price of the 10-year Treasury note decreased 14/32, bringing its yield up to 2.029%. The price of the 30-year Treasury bond fell 1 8/32, increasing its yield to 2.814%.
Compliance
ERISA Plan Lien Enforcement Must Be Quick
The U.S. Supreme Court case Montanile v. Board of Trustees of the National Elevator Industry Health Benefit Plan did not gain much attention before reaching the top federal court, but now that the case has been decided, ERISA attorneys are warning of significant potential impacts. “The decision limits the ability of insurance plans to recover money from a beneficiary in a settlement,” explains Michael Graham, a partner with McDermott Will & Emery and co-chair of the firm’s ERISA Litigation Affinity Group. It may sound like an esoteric issue, but Graham and other experienced ERISA compliance professionals say the issue comes up quite a lot across a wide variety of employee benefit plans.Read more >
Small Talk

ON THIS DATE: In 1874, a patent was issued to Samuel W. Francis for the spork. In 1889, the Columbia Phonograph Company was formed in Washington, D.C. In 1895, the National Association of Manufacturers was organized in Cincinnati. In 1901, Queen Victoria of England died after reigning for nearly 64 years. Edward VII, her son, succeeded her. In 1903, the Hay-Herrán Treaty was signed granting the United States rights to the land proposed for the Panama Canal. In 1930, in New York, excavation began for the Empire State Building. In 1947, KTLA, Channel 5, in Hollywood, California, began operation as the first commercial television station west of the Mississippi River. In 1957, suspected “Mad Bomber” was arrested in Waterbury, Connecticut. George P. Metesky was accused of planting more than 30 explosive devices in the New York City area. In 1968, “Rowan & Martin’s Laugh-In”, debuted on NBC TV. In 1973, Joe Frazier lost the first fight of his professional career to George Foreman. He had been the undefeated heavyweight world champion since February 16, 1970. In 1973, the U.S. Supreme Court struck down state laws that had been restricting abortions during the first six months of pregnancy. The case (Roe v. Wade) legalized abortion. In 1984, Apple introduced the Macintosh during the third quarter of Super Bowl XVIII. In 1997, the U.S. Senate confirmed Madeleine Albright as the first female secretary of state. In 1998, Theodore Kaczynski pled guilty to federal charges for his role as the Unabomber. In 2002, AOL Time Warner filed suit against Microsoft in federal court seeking damages for harm done to AOL’s Netscape Internet Browser when Microsoft began giving away its competing browser. In 2002, Kmart Corp. filed for Chapter 11 bankruptcy making it the largest retailer in history to seek legal protection from its creditors.

 

And now it’s time for FRIDAY FILES!
Winter life hacks.Read more >
How to take off your kid’s boots with one hand.Read more >

In Argentina, a tourist from Brazil stopped to get gas then drove off. After travelling 96 kilometers (about 50 miles), he realized he forgot something—his wife. Apparently, while he was pumping gas, his wife, who was asleep in the back seat, awoke and went into the store to get a snack.

In the UK, a concerned parent posted online a note from her child’s teacher encouraging parents to teach their children to learn the spelling of six words. The words, as listed on the note, were “accommodate,” “immediateley,” “communicate,” “physical,” “equip,” and “sincerley.”
The violin can sound very much like car, and other, alarms.Read more >

In LaPorte, Indiana, a man, who news reports say was into.xicated, pulled up to a McDonald’s drive-through and ordered meals for himself and his passengers. When he pulled up the window to pay, he gave the cashier some money and a plastic bag. The employee noticed that the plastic bag contained a dark, rocky substance and called police. The substance turned out to be her.oin. Police are looking for the customer.

In Laverton, Western Australia, thieves attempted to siphon gas from a tour bus, but the evidence they left revealed they took away something different. According to the UK’s The Mirror, the tour bus was found with a cap on the ground, but it was to the bus sewage tank, not the gas tank. Laverton Police Senior Sergeant Heath Soutar said, “We can infer they beat a very hasty retreat, with a somewhat bitter taste in their mouth.”

In Wiltshire, England, a woman called 999 to report she was trapped in her house by a large, poisonous spider. According to the Associated Press, the woman told the 999 operator that she had recently had furniture delivered to her home from overseas and thought the spider had traveled to her home with it. An officer was sent to investigate, and discovered the “spider” actually was a piece of fluff.

Have a great weekend, everyone!
Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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