Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 31st, 2019

2019 Plan Sponsor of the Year Finalists

PLANSPONSOR is pleased to announce Plan Sponsor of the Year award finalists in the Corporate 401(k) >$25MM to $50MM and Corporate 401(k) >$50MM to $100MM categories. Read more >
From the Magazine
Insights: No Rubber-Stamps
Recently I spent two weeks on the road, traveling to five cities for our annual Best of the PLANSPONSOR National Conference (PSNC) roadshow event, speaking to, and with, plan sponsors and advisers. In every city, the opening topic was litigation and regulation, and that session touched on several cases and their implications. One of the most emphasized was the suit brought against New York University (NYU) by Jerry Schlicter on behalf of NYU employees, and I think it has important lessons for plan sponsors. Read more >
Investing
DC Plan Sponsors Slow to Adopt Hybrid QDIAs
Just as defined contribution (DC) plan sponsors were once concerned about automatically enrolling employees in the plan when they didn’t actively select it, they have hesitations about using qualified default investment alternatives (QDIAs) that automatically place participants in a managed account. Read more >
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Market Mirror

Wednesday, the Dow gained 434.90 points (1.77%) to finish at 25,014.86, the NASDAQ climbed 154.79 points (2.20%) to 7,183.08, and the S&P 500 closed 41.05 points (1.55%) higher at 2,681.05. The Russell 2000 was up 15.49 points (1.05%) at 1,486.94, and the Wilshire 5000 increased 404.71 points (1.48%) to 27,741.52.

 

The price of the 10-year Treasury note increased 9/32, bringing its yield down to 2.680%. The price of the 30-year Treasury bond was up 3/32, decreasing its yield to 3.038%.

Compliance
Stadion, United of Omaha Face Lawsuit Over Managed Account Offering
According to the lawsuit, Stadion directed participants’ accounts into investments that would better benefit itself and Mutual of Omaha, and Mutual of Omaha retained revenue sharing knowing of Stadion’s actions. Read more >
Products, Deals and People
Transamerica Urges Sponsors to Remind Participants About the Saver’s Credit
Sixty-two percent of workers are unaware of the credit, according to survey findings from Transamerica Center for Retirement Studies. Read more >
Small Talk

ON THIS DATE: In 1606, Guy Fawkes was executed after being convicted for his role in the “Gunpowder Plot” against the English Parliament and King James I. In 1865, General Robert E. Lee was named general-in-chief of the Confederate armies. In 1876, all Native American Indians were ordered to move into reservations. In 1893, the trademark “Coca-Cola” was first registered in the United States Patent Office. In 1940, the first Social Security check was issued by the U.S. Government. In 1944, during World War II, U.S. forces invaded Kwajalein Atoll and other areas of the Japanese-held Marshall Islands. In 1949, the first TV daytime soap opera was broadcast from NBC’s station in Chicago. It was “These Are My Children.” In 1950, President Harry Truman announced that he had ordered development of the hydrogen bomb. In 1958, Explorer I was put into orbit around the earth. It was the first U.S. earth satellite. In 1971, telephone service between East and West Berlin was re-established after 19 years. In 1990, McDonald’s Corp. opened its first fast-food restaurant in Moscow, Russia. In 2005, Keanu Reeves received a star on the Hollywood Walk of Fame.

 

 

No SURVEY SAYS this week.

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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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