Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 27th, 2016
PLANSPONSOR Plan Sponsor of the Year Finalists
PSOY Finalists: Corporate 401(k) $200MM to $1B
Congratulations to our Plan Sponsor of the Year finalists in the Corporate 401(k) $200MM to $1B category.Read more >
PSOY Finalists: Corporate 401(k) >$1B
Congratulations to our Plan Sponsor of the Year finalists in the Corporate 401(k) > $1B category.Read more >
Benefits & Administration
Finding Money to Save for Retirement Is a Struggle
Only 37% of Americans report they can live comfortably and save an adequate amount for retirement or other needs, according to the Allstate and National Journal Heartland Monitor Poll findings. Nearly half (46%) say they can get by every month but find it difficult to save and invest. Nearly one-third (32%) of survey respondents report that in the past 12 months, they have withdrawn money from savings or pension funds to make ends meet.Read more >
IRS Notice Defines Retirement Plan Tax Distribution Exceptions
ERISA Advisory Council Explores Annuity Default Options in DC Plans
Ask the Experts
Who Is Eligible for Special Age 60-63 Catch-up Contributions?
So far, the $160 billion pension fund of New York City has avoided serious operational failures, according to an independent report commissioned by Scott Stringer, New York City comptroller. New York City’s Bureau of Asset Management has to improve its pension oversight, the report says.Read more >
Products, Deals and People
Fidelity Investments has launched Fidelity Health Marketplace, which offers one-stop access to health and wellness benefits to small and midsized businesses and their employees.Read more >
Sponsored message from PNC Vested Interest
PLANSPONSOR interviews Michael Patch and Keith Vukmir
Alison Cooke Mintzer, Editor-in-Chief for PLANSPONSOR, interviews Michael Patch, Director of Relationship Management, and Keith Vukmir, Director of Development, at PNC Retirement Solutions. Patch and Vukmir discuss zero revenue share funds.Read more >
Economic Events
The Conference Board Consumer Confidence Index, which had increased in December, improved moderately in January. The Index now stands at 98.1 (1985=100), up from 96.3 in December. The Present Situation Index was unchanged at 116.4, while the Expectations Index increased from 83.0 to 85.9 in January.
Market Mirror

U.S. stock indices closed sharply higher as the price of crude oil made another sudden turn, the Associated Press reports. The Dow climbed 282.01 points (1.78%) to 16,167.23, the NASDAQ closed 49.18 points (1.09%) higher at 4,567.67, and the S&P 500 was up 26.53 points (1.41%) at 1,903.61. The Russell 2000 increased 20.60 points (2.07%) to 1,017.97, and the Wilshire 5000 gained 294.80 points (1.54%) to finish at 19,446.37.

On the NYSE, 3.1 billion shares changed hands, with advancing issues outnumbering declining issues more than 5 to 1. On the NASDAQ, 2.7 billion shares traded, with a more than 2 to 1 lead for advancers.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.003%. The price of the 30-year Treasury bond was down 3/32, increasing its yield to 2.790%.
Oracle Targeted in Excessive Fee Suit
A new lawsuit filed against Oracle Corporation for alleged mismanagement of the company’s 401(k) plan clearly echoes many of the complaints filed in the past several years.Read more >
Retirement Age Rules for Governmental Plans Proposed
In the latest iteration of rulemaking efforts that have been going on for years, the Internal Revenue Service (IRS) has issued a notice of proposed rulemaking for the applicability of normal retirement age regulations to governmental pension plans. The agency has added more safe harbors to the normal retirement age requirements.Read more >
Ask the Experts
“We are changing recordkeepers for our Employee Retirement Income Security Act (ERISA) 403(b) plan and have been informed that there will be a ‘blackout’ period where the participants will not be able to access their accounts for up to two weeks while the assets are being transferred from the custodial account of the old recordkeeper to the custodial account of the new one. Are such ‘blackout’ periods unusual, and is there anything else about which I should be aware during the conversion process?”Read more >
Small Talk
In addition to when to retire, people may consider where to retire. WalletHub has prepared a ranking of the 50 states and the District of Columbia across 24 key metrics. By overall rank, the top five places to retire are Florida, Wyoming, South Dakota, South Carolina and Colorado. Among other things, WalletHub measured states’ rankings on entertainment.Read more >

ON THIS DATE: In 1870, Kappa Alpha Theta, the first sorority, was founded at Indiana Asbury University (now DePauw University) in Greencastle, Indiana. In 1880, Thomas Edison patented the electric incandescent lamp. In 1888, the National Geographic Society was founded in Washington, D.C. In 1945, Soviet troops liberated the Nazi concentration camps Auschwitz and Birkenau in Poland. In 1948, Wire Recording Corporation of America announced the first magnetic tape recorder. The ‘Wireway’ machine with a built-in oscillator sold for $149.50. In 1967, at Cape Kennedy, Florida, astronauts Virgil I. “Gus” Grissom, Edward H. White and Roger B. Chaffee died in a flash fire during a test aboard their Apollo I spacecraft. In 1973, the Vietnam peace accords were signed in Paris. In 1984, Carl Lewis beat his own two-year-old record by 9-1/4 inches when he set a new indoor world record with a long-jump mark of 28 feet, 10-1/4 inches. In 2010, Steve Jobs unveiled the Apple iPad.


WEDNESDAY WISDOM: “Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.”—Steve Jobs
Share the good news with a friend! Pass the NewsDash along – and tell your friends/associates they can sign up for their own copy.Read more >

Editorial: Alison Cooke Mintzer


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