Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 30th, 2019

2019 Plan Sponsor of the Year Finalists

PLANSPONSOR is pleased to announce Plan Sponsor of the Year award finalists in the Total Retirement Offering and Corporate 401(k) < $25MM categories. Read more >
Benefits & Administration
Lockheed Martin Transfers $2.6 Billion in Pension Obligations
In its fourth quarter and full-year 2018 results, federal contractor Lockheed Martin announced that in December 2018, certain of the corporation’s pension plans used pension trust assets to purchase group annuity contracts from insurance companies for $2.6 billion. Read more >
Addressing Employees’ Financial Wellness DC Plan Sponsors’ Top Priority in 2019
Defined contribution (DC) plan sponsors’ No. 1 goal for their participants has moved from increasing savings rates to addressing workers’ broad financial wellbeing and helping them achieve retirement readiness, Alight Solutions found. Read more >
Products, Deals and People
Wolters Kluwer Makes Retirement Plan Distribution Processes Easier
New integrations make filling out Form 1099s and rollovers to individual retirement accounts (IRAs) automatic. Read more >
MOST READ ARTICLES
1
The Senate Math That Could Block SECURE Act
2
House Committee Advances Bill to Establish Union Pension Lifeline Program
3
Open MEPs Not for Every Plan Sponsor
4
Driving Financial Wellness at Work
5
Pension Participants Claim ERISA Breaches in Dow DuPont Pension Transfer
Economic Events

The Conference Board Consumer Confidence Index decreased in January, following a decline in December. The Index now stands at 120.2 (1985=100), down from 126.6 in December. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—declined marginally, from 169.9 to 169.6. The Expectations Index—based on consumers’ short-term outlook for income, business and labor market conditions—decreased from 97.7 last month to 87.3 this month.

Market Mirror

Tuesday, the Dow closed 51.74 points (0.21%) higher at 24,579.96, the NASDAQ closed 57.40 points (0.81%) lower at 7,028.29, and the S&P 500 decreased 3.85 points (0.15%) to 2,640.00. The Russell 2000 was down 2.09 points (0.14%) at 1,471.45, and the Wilshire 5000 closed 47.29 points (0.17%) lower at 27,336.83.

The price of the 10-year Treasury note was up 9/32, decreasing its yield to 2.712%. The price of the 30-year Treasury bond increased 13/32, bringing its yield down to 3.044%.

Ask the Experts
Do ERISA Cutback Provisions Apply to 403(b)s?
“I work with a governmental non-Employee Retirement Income Security Act (ERISA) 403(b) plan that is contemplating a number of retirement plan changes, some of which I am concerned might result in a cutback in protected benefits under Code Section 411(d)(6). Do the Experts have any thoughts in this regard?” Read more >
Investing
Public DB Plans Invest More in Risker Assets Than Private Plans
Research from the Center for Retirement Research (CRR) at Boston College also suggests public defined benefit (DB) plan return assumptions are on the optimistic end compared with those of investment professionals. Read more >
Small Talk
More than half of professionals (54%) surveyed by OfficeTeam know someone who’s called in sick or made an excuse for skipping work following a major sporting event, such as the Super Bowl, NBA Finals or World Series. In a separate survey, senior managers identified playing hooky the day after (42%) as the most distracting or annoying employee behavior when it comes to sports. And employers have good reason to be annoyed, according to an estimate from global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc. Read more >

ON THIS DATE: In 1844, Richard Theodore Greener became the first African American to graduate from Harvard University. In 1847, the town of Yerba Buena was renamed San Francisco. In 1862, the Navy’s first ironclad warship, the “Monitor”, was launched. In 1933, “The Lone Ranger” was heard on radio for the first time. The program ran for 2,956 episodes and ended in 1955. In 1933, Adolf Hitler was named the German Chancellor. In 1948, Indian political and spiritual leader Mahatma Gandhi was murdered by a Hindu extremist. In 1958, Yves Saint Laurent, at age 22, held his first major fashion show in Paris. In 1958, the first two-way moving sidewalk was put in service at Love Field in Dallas, Texas. In 1968, the Tet Offensive began as Communist forces launched surprise attacks against South Vietnamese provincial capitals. In 1994, Peter Leko became the world’s youngest-ever grand master in chess.

 

WEDNESDAY WISDOM: “The fact that an opinion has been widely held is no evidence whatever that it is not utterly absurd.”—Bertrand Russell, British Nobel laureate

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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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

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