Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 2nd, 2019
Webcast Event
Around the World in 60 Minutes: Global Equity Updates
In this webinar, Barbara Klementz, partner at Baker McKenzie, will take you through the most important tax and legal changes affecting global share plans during the last six to 12 months. She will discuss relevant issues and provide an action plan for steps to take to address these changes. Register now to learn more about the latest tax and regulatory changes and to make sure your global stock plans have kept pace.Read more >
Benefits & Administration
CalSavers State-Run Retirement Plan Opened
California’s has joined other states in actually launching an automatic IRA program, and one state’s program is already showing initial success.Read more >
Products, Deals and People
Principal, Wells Fargo Combination to Provide Broader Range of Services
Principal’s acquisition of Wells Fargo’s Institutional Retirement & Trust business is complete, and Principal’s Renee Schaaf discussed what that means going forward for the businesses and their clients.Read more >
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
Employees Don’t Want ‘All or Nothing’ When It Comes to Guaranteed Lifetime Income
TRIVIAL PURSUITS: Residents of the Island of Misfit Toys
2021 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Sponsored message from Capital Group
Keys to our target date success - Capital Group & American Funds
The types of equities in target date funds can have a significant impact on outcomes. Learn more about our approach to equities in American Funds Target Date Retirement Series®. Read more >
Economic Events

Construction spending during May was estimated at a seasonally adjusted annual rate of $1,293.9 billion, 0.8% below the revised April estimate of $1,304.0 billion, the Census Bureau reported. The May figure is 2.3% below the May 2018 estimate of $1,324.3 billion. During the first five months of this year, construction spending amounted to $498.8 billion, 0.3% below the $500.3billion for the same period in 2018.

Market Mirror

Yesterday, the Dow gained 117.47 points (0.44%) to finish at 26,717.43, the NASDAQ closed 84.92 points (1.06%) higher at 8,091.16, and the S&P 500 increased 22.57 points (0.77%) to 2,964.33. The Russell 2000 was up 3.09 points (0.20%) at 1,569.66, and the Wilshire 5000 climbed 217.45 points (0.72%) to 30,485.50.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 2.031%. The price of the 30-year Treasury bond decreased 28/32, bringing its yield up to 2.556%.

Attorney Believes Supreme Court Will Side With Plaintiffs in DB Plan Case
“How does it make sense to say that if you are a dollar over-funded, there is no risk of harm to the participants, but if you are a dollar under-funded, there is risk of harm or wrongdoing? It’s an illogical way to analyze this issue,” the attorney said.Read more >
The Shifting Mechanics of Hardship Withdrawals
In a new Snapshot publication, the IRS offers a detailed review of the shifting regulatory provisions applying to pre-retirement hardship distributions from defined contribution (DC) plans, noting how these are changing as a result of the Bipartisan Budget Act of 2018.Read more >
GASB Proposes Financial Reporting Changes for Government 457 Plans
An Exposure Draft proposes that if a Section 457 plan meets the definition of a pension plan in Government Accounting Standards Board (GASB) guidance, the appropriate GASB pension standards should be applied to the financial reporting for that plan.Read more >
Small Talk

ON THIS DATE: In 1776, Richard Henry Lee’s resolution that the American colonies “are, and of right ought to be, free and independent States” was adopted by the Continental Congress. In 1881, Charles J. Guiteau fatally wounded President James A. Garfield in Washington, D.C. In 1890, Congress passed the Sherman Antitrust Act. In 1926, Congress established the Army Air Corps. In 1937, American aviation pioneer Amelia Earhart disappeared in the Central Pacific during an attempt to fly around the world at the equator. In 1939, at Mount Rushmore, Theodore Roosevelt’s face was dedicated. In 1947, an object crashed near Roswell, New Mexico. The U.S. Army Air Force insisted it was a weather balloon, but eyewitness accounts led to speculation that it might have been an alien spacecraft. In 1962, Wal-Mart Discount City opened in Rogers, Arkansas. It was the first Walmart store. In 1964, President Lyndon Johnson signed the “Civil Rights Act of 1964” into law. In 1976, the U.S. Supreme Court ruled the death penalty was not inherently cruel or unusual. In 1976, North Vietnam and South Vietnam were reunited.

TRIVIAL PURSUITS: Which comic superhero was introduced first, Superman or Batman?Read more >
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


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