| | Benefits & Administration | | DC Plan Sponsors Want Retirees/Terminated Employees to Remain in Their Plans | | Alight’s “2019 Top Topics in Retirement and Financial Wellbeing: Building on the Past, Working Toward the Future,” looks at how retirement plans have changed since it first conducted its survey of employers 10 years ago, as well as retirement plan sponsors’ top goals for their plans in 2019. The top three goals for 2019 include expanding financial wellbeing programs, keeping retirees’ assets in the plan and locating missing participants. Sixty-one percent say the threat of lawsuits prevents them from being more innovative with their defined contribution (DC) plan. Notably, more than 60% of employers want to keep retirees in their plan, and they are looking to change their targeted communications to inspire action. Thirty-three percent of employers prefer that terminated employees keep their balances in the plan.Read more > | | | Products, Deals and People | | intellicents adds to Financial Wellness Program | | The advisory firm has introduced intellicents university, with courses for employers, employees and retirees.Read more > |
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| | Market Mirror | Yesterday, the Dow fell 208.98 points (0.84%) to 24,528.22, the NASDAQ closed 79.18 points (1.11%) higher at 7,085.69, and the S&P 500 decreased 20.91 points (0.78%) to 2,643.85. The Russell 2000 was down 9.32 points (0.63%) at 1,473.54, and the Wilshire 5000 lost 196.02 points (0.71%) to finish at 27,384.22. The price of the 10-year Treasury note increased 4/32, bringing its yield down to 2.745%. The price of the 30-year Treasury bond was up 3/32, decreasing its yield to 3.066%. | | | Compliance | | Nondiscrimination Testing Part II: Test Methods and Corrections | | Retirement plan sponsors need to understand what nondiscrimination tests compare and how to correct failed tests.Read more > | | DOL Invites Correction for Failure to Timely Remit Contributions | | An update from law firm Masuda, Funai, Eifert & Mitchell, Ltd. says that based on reviews of Form 5500s, the DOL’s Employee Benefit Security Administration (EBSA) is sending “no action” letters to plan sponsors.Read more > | | PBGC Makes Pilot Mediation Program Permanent, Adds Fiduciary Disputes | | The Pension Benefit Guaranty Corporation (PBGC) has announced its decision to make its Pilot Mediation Program a permanent project, given its early success in helping to resolve pension termination liability collection and Early Warning Program cases. In addition to making the mediation program permanent, PBGC has added fiduciary breach cases to the categories of disputes covered.Read more > | | | Small Talk | | ON THIS DATE: In 1802, John Beckley became the first Librarian of Congress. In 1861, 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 1949, “The Newport News” was commissioned as the first air-conditioned naval ship in Virginia. 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 49-26. | | TRIVIAL PURSUITS: What does Yosemite mean?Read more > | | 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 > |
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