Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 25th, 2016
PLANSPONSOR Plan Sponsor of the Year Finalists
PSOY Finalists Corporate 401(k) <$15MM
Congratulations to our Plan Sponsor of the Year finalists in the Corporate 401(k) <$15MM category.Read more >
PSOY Finalists Corporate 401(k) $15MM to $25MM
Congratulations to our Plan Sponsor of the Year finalists in the Corporate 401(k) $15MM to $25MM category.Read more >
Benefits & Administration
Boosting Pension Plan Funding in 2016
Market volatility, longevity and Pension Benefit Guaranty Corporation (PBGC) premiums are prompting pension plan sponsors to take a harder look at funding levels, and there are several options for boosting them.Read more >
MOST READ ARTICLES
1
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
2
2020 Recordkeeping Survey
3
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
4
John Hancock Agrees to Procedural Changes in ERISA Suit Settlement
5
2021 Defined Benefit Administration Survey
Products, Deals and People
Retirement Industry People Moves
Russell Investments, Pavilion Advisory, Guardian and others announce new hires.Read more >
Economic Events

Existing-home sales snapped back solidly in December 2015 as more buyers reached the market before the end of the year, and the delayed closings resulting from the rollout of the Know Before You Owe initiative pushed a portion of November’s would-be transactions into December’s figure, according to the National Association of Realtors. Led by the South and West, all four major regions saw large increases in December. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, ascended 14.7% to a seasonally adjusted annual rate of 5.46 million in December from 4.76 million in November. After December’s turnaround (the largest monthly increase ever recorded), sales are now 7.7% above a year ago.

THE ECONOMIC WEEK AHEAD: Tomorrow, the Conference Board will issue its Consumer Confidence Index for January. Wednesday, the Census Bureau will report about new home sales. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders for December.
Sponsored message from Vanguard
Women versus men in DC plans
Learn the factors driving a sizeable difference in 401(k) wealth accumulation between men and women.Read more >
Market Mirror

U.S. stocks made their biggest gain in more than a month on Friday as oil prices surged, lifting energy stocks. Tech stocks also climbed as Apple had its biggest rise since August, according to the Associated Press. The Dow increased 210.83 points (1.33%) to 16,093.51, the NASDAQ gained 119.12 points (2.66%) to finish at 4,591.18, and the S&P 500 was up 37.91 points (2.03%) at 1,906.90. The Russell 2000 closed 23.42 points (2.35%) higher at 1,020.76, and the Wilshire 5000 climbed 401.13 points (2.10%) to 19,473.77.

On the NYSE, 3.1 billion shares traded, with a more than 8 to 1 lead for advancers. On the NASDAQ, 2.7 billion shares changed hands, with advancing issues outnumbering declining issues more than 4 to 1.

The price of the 10-year Treasury note was down 7/32, increasing its yield to 2.055%. The price of the 30-year Treasury bond decreased 8/32, bringing its yield up to 2.824%.

WEEK’S WORTH: For the week ending January 22, the Dow was up 0.66%, the NASDAQ climbed 2.29%, and the S&P 500 gained 1.41%. The Russell 2000 increased 1.29%, and the Wilshire 5000 finished 1.31% higher.
Compliance
Coatesville Chicken, LLC, doing business as Popeye’s Louisiana Kitchen in Coatesville, Pennsylvania, will pay $36,000 and provide significant equitable relief to settle a federal age discrimination lawsuit, the U.S. Equal Employment Opportunity Commission (EEOC) announced. The EEOC alleged that during certain job candidates’ interviews, the general manager asked them how old they were and told them that they were “too old” to work for the restaurant.Read more >
SunEdison Faces Stock Drop Lawsuit
Alexander Y. Usenko, a former SunEdison employee and participant in the company’s defined contribution (DC) plan, has brought suit against SunEdison for losses incurred by investing his retirement plan assets in SunEdison stock. The accusations are similar to those in many stock drop lawsuits, and the plaintiff uses the Supreme Court’s Dudenhoeffer decision as a standard for pleading.Read more >
Investing
Even with deepening concerns about corporate earnings and U.S. economic growth, asset managers are not rushing for the door on equities.Read more >
Small Talk
ON THIS DATE: In 1858, Mendelssohn’s “Wedding March” was presented for the first time at the wedding of the daughter of Queen Victoria and the Crown Prince of Prussia. In 1890, the United Mine Workers of America was founded. In 1915, in New York, Alexander Graham Bell spoke to his assistant in San Francisco, inaugurating the first transcontinental telephone service. In 1924, the first Winter Olympic Games were inaugurated in Chamonix in the French Alps. In 1937, NBC radio presented the first broadcast of “The Guiding Light.” The show remained on radio until 1956 and began on CBS-TV in 1952. In 1949, the first Emmys were presented at the Hollywood Athletic Club. In 1961, John F. Kennedy presented the first live presidential news conference from Washington, D.C. The event was carried on radio and television. In 1999, in Louisville, Kentucky, a man received the first hand transplant in the United States. In 2010, in Arlington, Texas, the International Bowling Museum and Hall of Fame had its grand opening. In 2011, a revolution began in Egypt with the demonstrations that demanded the end of President Hosni Mubarak’s rule.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Which “Best Picture” nominees have you seen, which do you think should win, and what movies do you think should have made the list?” More than two-fifths of responding readers reported that they have seen none of the Best Picture nominees. The nominee that was most viewed by NewsDash readers (35.4%) was “The Martian.” This was followed by “Bridge of Spies” (20.8%) and “The Big Short” and “Mad Max: Fury Road” (16.7% each). Asked which Best Picture nominee they thought should win the Oscar, “The Revenant” won out, with 31.6% of votes. Twenty-one percent of readers indicated that none of the nominees should win. Some readers suggested other movies should have been nominated, including: “Star Wars The Force Awakens” and “Jobs,” among others. From those who chose to leave comments, it seems not many pay attention to movies, much less awards for movies. There were strong differences in feelings about “The Revenant.” Some commented about the awards process and a couple reminisced about the “good old days” for movies and movie theaters. Editor’s Choice goes to the reader who said: “I haven’t seen any of them! I guess I’m living under a rock!!!” Thanks to everyone who participated in the survey!Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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