| Benefits & Administration | Illinois Establishes Retirement Plan for Private-Sector Workers | Illinois Governor Pat Quinn signed legislation
establishing an individual retirement plan for private-sector employees who
currently do not have access to a retirement plan at work. Senate Bill 2758
establishes the Illinois Secure Choice Savings Program, an individual-account
retirement savings option with a 3% automatic payroll deduction. Employers that
do not already offer a retirement savings plan to workers, have been in
business for at least two years and employ 25 or more employees are required to
participate.Read more > | | Sponsored message from Russell | Star manager concerns? Expand your manager universe. Russell’s multi-manager, multi-strategy funds simplify the manager change process for DC plans. No long searches; no costly transitions. Consider the benefits of multi-manager.Read more > | | Products, Deals & People | ABD Insurance and Financial Services hired Brian
Ashworth as vice president of its retirement services group. Headquartered in
San Mateo, California, ABD Insurance and Financial Services (ABD) has nearly
160 enterprise risk and reward advisers working with a variety of client
types—including retirement plans.Read more > | | Market Mirror | Falling oil
prices continue to rattle investors, as the Dow fell 331.34 points (1.86%) to
17,501.65 yesterday. The NASDAQ closed 74.24 points (1.57%) lower at 4,652.57,
and the S&P 500 lost 37.62 points (1.83%) to finish at 2,020.58. The
Russell 2000 decreased 17.45 points (1.46%) to 1,181.35, and the Wilshire 5000
dropped 396.26 points (1.83%) to 21,269.06.
On the NYSE,
3.2 billion shares traded, with a more than 3 to 1 lead for decliners. On the
NASDAQ, 2.7 billion shares changed hands, with 2.4 declining issues for every
advancing issue.
The price of the 10-year Treasury note was up 21/32,
decreasing its yield to 2.037%. The price of the 30-year Treasury bond
increased 1 27/32, with its yield down to 2.604%.
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