Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 29th, 2016
PLANSPONSOR Plan Sponsor of the Year Finalists
PSOY Finalists: 403(b)
Congratulations to our Plan Sponsor of the Year finalists in the 403(b) category.Read more >
PSOY Finalists: Total Retirement Offering
Congratulations to our Plan Sponsor of the Year finalists in the Total Retirement Offering category.Read more >
Benefits & Administration
Employers Haven’t Caught On to New Vision of Retirement
While employees plan to work longer and gradually phase into not working at all, most employers do not have policies in place to facilitate those desires.Read more >
MOST READ ARTICLES
1
2021 Plan Sponsor of the Year
2
How to Effectively Measure Retirement Plan Success
3
2020 Recordkeeping Survey
4
A Checklist for Retirement Plan Committees
5
Settlement Reached in Insperity 401(k) Excessive Fee, Self-Dealing Suit
Target-date funds and other qualified default investment alternatives (QDIAs) are often thought of as ‘set-it and forget-it’ investments, but new data from J.P. Morgan Asset Management highlights some troubling behaviors among participants invested in their plan’s default.Read more >
Products, Deals and People
Investment Product Launches
S&P Dow Jones Indices adds retirement income indexes; Northern Trust Asset Management reveals its next generation of target-date funds; and Beaumont Capital reveals a defensive TDF alternative.Read more >
Sponsored message from MetLife
Looking for alternatives for your defined contribution retirement plan?
Visit the Stable Value Educational Hub.Read more >
Economic Events

New orders for manufactured durable goods in December decreased $12.0 billion or 5.1% to $225.4 billion, the U.S. Census Bureau announced. This decrease, down four of the last five months, followed a 0.5% November decrease. Excluding transportation, new orders decreased 1.2%. Excluding defense, new orders decreased 2.9%. Transportation equipment, also down four of the last five months, led the decrease, $10.1 billion or 12.4% to $71.3 billion. 

In the week ending January 23, the advance figure for seasonally adjusted initial claims for unemployment insurance was 278,000, a decrease of 16,000 from the previous week’s revised level, the Labor Department reported. The four-week moving average was 283,000, a decrease of 2,250 from the previous week’s revised average.

The average interest rate for a 30-year fixed-rate mortgage is 3.79%, down from 3.81% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.07%, down from 3.10%.
Market Mirror

The rollercoaster ride continues as U.S. stock indices rose Thursday due mostly to an increase in the price of oil. The Dow gained 125.18 points (0.79%) to finish at 16,069.64, the NASDAQ climbed 38.51 points (0.86%) to 4,506.68, and the S&P 500 was up 10.41 points (0.55%) at 1,893.36. The Russell 2000 increased by 0.53 (0.05%) to 1,003.27, and the Wilshire 5000 closed 90.49 points (0.47%) higher at 19,318.78.

On the NYSE, 3.1 billion shares changed hands, with advancing issues outnumbering declining issues 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 was up 6/32, decreasing its yield to 1.981%. The price of the 30-year Treasury bond increased 10/32, bringing its yield down to 2.784%.
Compliance
Another Senator Suggests National Retirement Plan
On a call Thursday afternoon, Sen. Jeff Merkley (D-Oregon) introduced a proposal to strengthen what he said is the country’s increasingly strained retirement system. Merkley has introduced The American Savings Act, which would establish a new universal savings account that would give all working Americans without a workplace-based plan access to a retirement account modeled on the Thrift Savings Plan (TSP).Read more >
During a Senate committee hearing, while applauding initiatives already announced, industry players encouraged federal lawmakers to consider further steps.Read more >
IRS Proposes Nondiscrimination Relief for Closed DBs
The Internal Revenue Service (IRS) has proposed nondiscrimination relief for closed defined benefit (DB) plans and additional changes to the retirement plan nondiscrimination requirements.Read more >
Investing
During a recent call with financial industry reporters, Robert Tipp, chief investment strategist and a manager on the Prudential Total Return Bond Fund, shared his outlook and Prudential’s current stance on the fixed-income markets, following the release of the firm’s wider 2016 market outlook. While not unbridled in his optimism, Tipp is clearly enthusiastic about prospects for the bond markets in the coming months, especially for those investors who are selective about their risk-taking and identify with conviction where opportunity lies.Read more >
Small Talk

ON THIS DATE: In 1802, John Beckley became the first Librarian of Congress. In 1861, in America, Kansas became the 34th state of the Union. In 1886, the first successful petrol-driven motorcar, built by Karl Benz, was patented. In 1936, the first members of major league baseball’s Hall of Fame were named in Cooperstown, New York. In 1963, the first members to the NFL’s Hall of Fame were named in Canton, Ohio. In 1990, Joseph Hazelwood, the former skipper of the Exxon Valdez, went on trial in Anchorage, Alaska, on charges that stemmed from America’s worst oil spill. Hazelwood was later acquitted of all the major charges and was convicted of a misdemeanor. In 1995, the San Francisco 49ers became the first team in National Football League (NFL) history to win five Super Bowl titles. The 49ers defeated the San Diego Chargers 49 to 26.

 

And now it’s time for FRIDAY FILES!
It was much harder driving a Ford Model T than cars today.Read more >
100 years of cars.Read more >
In Omaha, Nebraska, a veteran helps the community get out of the snow with his modified wheelchair. Video.Read more >

In Newquay, Cornwall, England, lifeboat volunteers, a Coastguard rescue team and rescue helicopter all responded to a call of a person struggling in the water. They spent more than 90 minutes searching in the dark before finding a clothed, inflatable blow-up doll. Gareth Horner, lifeboat operations manager, told news.com.au the angler had genuine concerns after seeing the clothed inflatable figure. “The caller gave accurate information which led to a successful search and a positive outcome,” he said.

In Amsterdam, police responded to a call by someone who suspected a neighbor was being subjected to domestic viol.ence. When police arrived, they heard what they thought were screams from inside the home. The resident did not come to the door, so police kicked it in. According to the NL Times, that’s when policed discovered the resident was not screaming but was trying to sing along with an opera recording. He was wearing headphones, and did not notice the police at his door.
In Vrnjacka Banja, Serbia, where snow blanketed the town and the temperature was below 19 degrees, a cat found a warm place to be—in a claw-game toy vending machine. The cat was eventually freed, but news.com.au posted this pic.Read more >
Happy weekend, everyone!
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 alison.mintzer@strategic-i.com

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