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| Sponsored message from Vanguard | |
| How America Saves 2015 Get the latest in DC plan trends from Vanguard’s annual report. How America Saves 2015 is a comprehensive report that offers useful insights into current issues affecting DC plans, including employer contribution trends, automatic plan features use of target-date funds, use of advice services and more.Read more > | |
| Economic Events | |
| The Producer Price Index (PPI) for final demand advanced 0.4% in June, according to the Bureau of Labor Statistics. Final demand prices rose 0.5% in May and declined 0.4% in April. In June, prices for final demand goods increased 0.7%. The index for final demand services advanced 0.3%. | |
| Market Mirror | |
U.S. stock indices ended lower as energy companies fell with weaker oil prices, according to the Associated Press. The Dow was down 3.41 points (0.02%) at 18,050.17, the NASDAQ decreased 5.95 points (0.12%) to 5,098.94, and the S&P 500 slipped 1.55 points (0.07%) to 2,107.40. The Russell 2000 lost 8.81 points (0.69%) to finish at 1,264.52, and the Wilshire 5000 closed 48.05 points (0.22%) lower at 22,252.58. On the NYSE, 3.2 billion shares changed hands, with 1.5 declining issues for every advancing issue. On the NASDAQ, 2.9 billion shares traded, with a near 2 to 1 lead for decliners. The price of the 10-year Treasury note was up 13/32, decreasing its yield to 2.353%. The price of the 30-year Treasury bond increased 1 2/32, bringing its yield down to 3.141%. | |
| Compliance | |
| DOL Gets Final Judgment in Misuse of Funds Case | |
| A consent judgement issued by a Kentucky federal court will recover nearly $300,000 for a pension plan in Michigan, and ban the defendants from serving as plan fiduciaries or service providers again. The latest court order culminates six years of investigations and three years of legal battle for the Department of Labor (DOL).Read more > | |
| From the Magazine | |
| What to Know About Distributions and Rollovers | |
| The Department of Labor (DOL), Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and Government Accountability Office (GAO) are looking at what plans and service providers say to participants about distributions and rollovers. Should you be looking at this, too?Read more > | |
| Investing | |
| June was another light month of trading activity in defined contribution plans, according to the Aon Hewitt 401(k) Index. Of the 22 trading days in the month, 13 had more money flow to equities than to fixed income. However, for the month, the most popular asset classes for inflows were money market ($63 million), small U.S. equity ($56 million), and GIC/stable value funds ($41 million). Read more > | |
| Small Talk | |
| Health and Life Satisfaction Improve in Retirement | |
| Despite a prevailing belief that health and life satisfaction decline in retirement, the National Bureau of Economic Research (NBER) says they actually improve, at least in the initial few years of retirement. While some have determined that retirees are socially isolated and have a diminished sense of purpose, they have more time for leisure, “which may reduce physical and mental stress, improving both subjective well-being and health,” NBER says. Read more > | |
| ON THIS DATE: In 1790, the young American Congress declared that a swampy, humid, muddy and mosquito-infested site on the Potomac River between Maryland and Virginia would be the nation’s permanent capital. In 1935, the world’s first parking meter was installed on the southeast corner of what was then First Street and Robinson Avenue in Oklahoma City, Oklahoma. In 1945, at 5:29:45 a.m., the Manhattan Project came to an end as the first atom bomb was successfully tested in Alamogordo, New Mexico. In 1966, Tommy James and the Shondells earned their first No. 1 hit with “Hanky Panky.” In 1999, John F. Kennedy, Jr.; his wife, Carolyn Bessette Kennedy; and her sister, Lauren Bessette, died when the single-engine plane that Kennedy was piloting crashed into the Atlantic Ocean near Martha’s Vineyard, Massachusetts. | |
| SURVEY SAYS: Plan sponsors may have more than one retirement plan to manage—a defined benefit plan and a defined contribution plan, two types of defined contribution plans, a qualified plan and a nonqualified, etc. This week, I’d like to know, does your firm or do have clients that sponsor multiple retirement plans, and in what ways do they handle certain aspects of plan administration? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
| Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more > | |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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