Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 12th, 2019
Benefits & Administration
Employers Encouraged to Offer Multi-Dimensional Wellness Programs
Among those that include physical, social, financial, community and mental health, employee productivity is higher.Read more >
Products, Deals and People
Investment Product and Service Launches
Man Group releases ESG analysis tool; Prudential Capital Group renames global investment business; Schwab expands ETF OneSource Program; and more.Read more >
New HSA Platform from HSAgateway
It helps users quantify the value of their high deductible health care plan, both in the present and the future, and select investments.Read more >
MOST READ ARTICLES
1
IRS Announces 2020 Contribution and Benefit Limits
2
IRS Proposes Update to Mortality Tables Used to Calculate RMDs
3
Employees Are Making Each Other Sick
4
Maximum Benefit and Contribution Limits Table 2020
5
Congressional Leaders Want SECURE Act Passage in 2019
Sponsored message from Northern Trust
How a Custodian Started Up a Fintech Solution for CIOs
Learn how Northern Trust Front Office Solutions developed a data integration solution for CIOs.Read more >
Economic Events

In June, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1%, seasonally adjusted (SA); rising 1.6% over the year, not seasonally adjusted (NSA), the Bureau of Labor Statistics announced. The index for all items less food and energy rose 0.3% in June, SA; up 2.1% over the year, NSA.

Real average hourly earnings increased 0.2% over the month in June, SA. Average hourly earnings increased 0.2% and CPI-U increased 0.1%. Real average weekly earnings increased 0.2% over the month.

In the week ending July 6, the advance figure for seasonally adjusted initial claims for unemployment insurance was 209,000, a decrease of 13,000 from the previous week’s revised level of 222,000, the Labor Department reported. The four-week moving average was 219,250, a decrease of 3,250 from the previous week’s revised average of 222,500.

The average interest rate for a 30-year fixed-rate mortgage is 3.75%, unchanged from one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.22%, up from 3.18% one week ago.

Market Mirror

Thursday, the Dow climbed 227.88 points (0.85%) to 27,088.08, the NASDAQ was down 6.49 points (0.08%) at 8,196.04, and the S&P 500 increased 6.84 points (0.23%) to 2,999.91. The Russell 2000 decreased 7.13 points (0.46%) to 1,557.92, and the Wilshire 5000 closed 43.98 points (0.14%) higher at 30,829.64.

The price of the 10-year Treasury note decreased 7/32, bringing its yield up to 2.134%. The price of the 30-year Treasury bond fell 1 29/32, increasing its yield to 2.657%.

Compliance
Analyst Sees ‘Moral Hazards’ in GASB Pension Accounting Standards
In addition to promoting inaccurate pension heath assessments, a new academic paper argues, pension accounting rules set by the Governmental Accounting Standards Board create “a degree of moral hazard for stakeholders.”Read more >
PBGC Updates ERISA Title IV Determination Instructions
The Pension Benefit Guaranty Corporation (PBGC) this week released a new form and related instructions for fiduciaries requesting determination about whether their retirement plan is covered under Title IV of the Employee Retirement Income Security Act (ERISA).Read more >
Small Talk

ON THIS DATE: In 1862, Congress authorized the Medal of Honor. In 1870, the first rotary can opener with a cutting wheel was patented by William W. Lyman. In 1933, a minimum wage of 40 cents an hour was established in the U.S. In 1954, the Major League Baseball Players Association was organized in Cleveland, Ohio. In 1984, Democratic presidential candidate Walter F. Mondale named U.S. Rep. Geraldine A. Ferraro of New York to be his running mate. Ferraro was the first woman to run for vice president on a major party ticket.

And now it’s time for FRIDAY FILES!

Ever wish you could ride in your Little Red Wagon again?Read more >
Children’s ice cream and Popsicle fails.Read more >
Save those Popsicle sticks this summer to make decorative items for your home.Read more >

In Tampa, Florida, a woman returned to a hotel room she was sharing with her boyfriend after a run to McDonald’s. However, she apparently ordered the wrong food, and the boyfriend became angry. He started pelting her with containers of McDonald’s Sweet ‘N Sour dipping sauce. Investigators responding to a 911 call noted that the woman had “marks consistent with her statements,” according to The Smoking Gun. The boyfriend fled the motel, but was subsequently arrested and booked into the Pasco County jail on a felony battery charge.

In Missoula, Montana, a black bear cub accidently locked himself inside a mudroom after entering a residence. It initially ripped “the room apart” after discovering he was trapped, the Missoula County Sheriff’s Office wrote on Facebook, the Huffington Post reports. But he then clambered into a closet for a nap, where he remained until deputies arrived to remove him. The bear apparently didn’t want to be disturbed from his nap because police knocks on the door resulted in a stretch and yawn. Officers were able to unlock the door, hoping the bear would leave, but all it did was yawn more. Eventually, the bear was able to enjoy a deep sleep when officials from the Montana Department of Fish, Wildlife and Parks were called in to tranquilize the bear, and they relocated him to the Mission Mountains.

In San Antonio, Texas, a woman called 911 from inside Government Canyon State Park saying that she had climbed a tree to get away from an animal that had been growling and following her. She was ultimately put in touch with a park police officer, and “urged him to please hurry because an animal she believed to be a wild pig was nearby and growling,” according to the Huffington Post. In reality, the sound that the woman and her hiking buddy mistook for vicious grunting and snorting was actually nearby cars going over a rumble strip on the road, according to a news release from the Texas Parks and Wildlife Department.

Near Rocky Mountain National Park in Colorado, a man learned the hard way to make sure his parking brake is on when he makes a roadside pit stop. Video shows footage of the man emerging from a port-a-potty to see his truck roll backwards off a cliff.

In Las Vegas, Nevada, the state highway patrol sent a message that people can only use the carpool lanes if the other passengers are living. They did so after pulling over a man driving a hearse in an HOV lane. The driver told a trooper he assumed that the body he was transporting to a funeral brought him in compliance with the HOV lane requirement of two or more occupants per vehicle, according to The Associated Press. He was given a warning.

 

Hope everyone has a great weekend!

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 >

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

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