Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 27th, 2017
2017 Plan Sponsor of the Year Finalists
Final Finalists for Plan Sponsor of the Year Announced
PLANSPONSOR is pleased to announce finalists for 2017 Plan Sponsor of the Year in three categories. Unfortunately, the link for the Public DC finalists did not work in yesterday’s newsletter.
Announcing 2017 Plan Sponsor of the Year finalists in the Public Defined Contribution (DC) category. Read more >
Announcing 2017 Plan Sponsor of the Year finalists in the 403(b) plan category. Read more >
Announcing 2017 Plan Sponsor of the Year finalists in the Total Retirement Offering category. Read more >
MOST READ ARTICLES
1
J.P. Morgan Agrees to Settle Stable Value Funds Suit
2
SECURE Act Passes House, Bringing Calls for Senate Collaboration
3
Individuals, Employers and Government All Play a Part in Retirement Readiness
4
Participant Loans: A Fiduciary Storm Brewing?
5
What to Know About Financial Audits Filed with Form 5500s
Benefits & Administration
Generations at Different Stages of Retirement Planning
When it comes to retirement readiness, those farthest away from this milestone appear the most hopeful, a new survey suggests. According to a new survey by New York Life, 66% of “Maturing Millennials” ages 30 to 35 believe they will be in better financial shape for retirement throughout the new year, compared to 46% of Generation X (ages 36 to 51), and 33% of Baby Boomers (52 to 70). However, although older Millennials feel most confident in their retirement preparedness, they are also planning big ticket spending. Read more >
Products, Deals and People
Investment Products and Services Launches
TIAA adds guaranteed income components to TDFs; Virtus launches Municipal Bond ETF; Alger revamps ESG fund; and more. Read more >
Economic Events

Sales of new single-family houses in December 2016 were at a seasonally adjusted annual rate of 536,000, according to estimates released today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 10.4% below the revised November 2016 rate of 598,000 and is 0.4% below the December 2015 estimate of 538,000.

In the week ending January 21, the advance figure for seasonally adjusted initial claims for unemployment insurance was 259,000, an increase of 22,000 from the previous week’s revised level of 237,000, the Labor Department reported. The four-week moving average was 245,500, a decrease of 2,000 from the previous week’s revised average of 247,500. This is the lowest level for this average since November 3, 1973, when it was 244,000.

The average interest rate for a 30-year fixed-rate mortgage is 4.19%, up from 4.09% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.40%, up from 3.34%.

Market Mirror

Thursday, the Dow was up 32.40 points (0.16%) at 20,100.91, the NASDAQ decreased by 1.16 (0.02%) to 5,655.18, and the S&P 500 decreased by 1.69 (0.07%) to 2,296.68. The Russell 2000 closed 6.84 points (0.49%) lower at 1,375.59, and the Wilshire 5000 was down 17.73 points (0.07%) at 24,052.55.

On the NYSE, 3.1 billion shares traded, with a slight lead for declining issues. On the NASDAQ, 2.9 billion shares changed, hands, with 1.6 decliners for every advancer.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 2.505%. The price of the 30-year Treasury bond increased 7/32, bringing its yield down to 3.087%.

Compliance
Court Refuses to Decide Statutory Issues in EEOC Wellness Program Case
An appellate court said neither party in the case has a serious stake in its outcome anymore, so the statutory issues should be decided by a court in a case where the answers matter to the parties. Russell Chapman, special counsel in the Employee Benefits practice at labor and employment law firm Littler Mendelson, weighs in on what the ruling means for employers. Read more >
JPMorgan Chase Latest Providing Facing Self-Dealing Suit
Fiduciaries of the internal JPMorgan Chase 401(k) plan are facing a proposed class-action suit, brought by an employee who argues the retirement plan’s fees were not properly controlled and that conflicts of interest damaged net-of-fee performance. Read more >
Small Talk

ON THIS DATE: In 1870, Kappa Alpha Theta, the first women’s 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 1926, John Baird, a Scottish inventor, demonstrated a pictorial transmission machine called television. In 1927, United Independent Broadcasters Inc. started a radio network with contracts with 16 stations. The company later became Columbia Broadcasting System (CBS). In 1943, during World War II, the first all American air raid against Germany took place when about 50 bombers attacked Wilhlemshaven. 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 1951, in the U.S., atomic testing in the Nevada desert began as an Air Force plane dropped a one-kiloton bomb on Frenchman Flats. In 1967, more than 60 nations signed the Outer Space Treaty which banned the orbiting of nuclear weapons and placing weapons on celestial bodies or space stations. In 1973, the Vietnam peace accords were signed in Paris. In 2010, Steve Jobs unveiled the Apple iPad.

 

And now it’s time for FRIDAY FILES!

Just a compilation of some short videos that will make you laugh. (I didn’t like the one with the bike, though.) Read more >
A creative way to never lose your car in the parking lot. Read more >

In New York City, The Bronx Zoo is offering people the chance to name one of its Madagascar hissing cockroaches in honor of someone for Valentine’s Day. The zoo in New York City started offering the name-a-roach program in 2011 as a fun way to fundraise, according to the Associated Press. For $10, recipients get an emailed certificate telling them one of the insects from the world’s largest roach species has been named for them. This year, the zoo is also offering to send along chocolates or a Madagascar cockroach plush toy for higher donations. The money goes to the Wildlife Conservation Society.

In Fostoria, Ohio, a police officer tried to stop a driver who wasn’t using headlights and kept braking, and the vehicle took off at 70 mph, WTOL-TV reported. The vehicle eventually struck a curb and stopped in a restaurant parking lot. That’s when the officer discovered that the driver was a 10-year-old boy who took his parents’ car without permission and drove 11 miles to a nearby city to shop at a convenience store.

In Council Bluffs, Iowa, a police officer found a 12-year-old boy walking along an Interstate 80 ramp at 6:30 a.m. in the morning. The boy said his mother left him after he got out of the car over an argument about which shoes to wear to school. According to the Des Moines Register, police say the mother initially verified the boy’s account, asking police, “What am I supposed to do? Be late for work?” She has been charged with child endangerment and abandonment.

In Geraldton, Australia, police stopped a speeder going 80 miles per hour. The driver told officers, “The wind was pushing me.” He was charged a $200 fine and given two demerit points.

In Port St. Lucie, Florida, a resident called police because a man with a mop over his face kept banging on his door or window. Police caught up with the man who told them, “I was born a comedian … and I liked to tease people … I was short of an egg and needed eggs to make a cake.”

Somewhere in East Texas, a 75-year-old woman was hiding in her bathtub as a tornado approached her home. According to a local news station, the tornado tore the roof off the home, then lifted the bathtub and carried it until it landed in nearby woods. The woman was unharmed.

Happy weekend, everyone!

Share the 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 alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

Subscribe to NEWSDash, click here .

To unsubscribe, click here.

BrightScope / CIO / FWW / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund