Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 22nd, 2015
Benefits & Administration
Heath Care Providers Attuned to Retirement Readiness
Health care providers are becoming increasingly attuned to the need to prepare their workers adequately for retirement, a survey by Transamerica Retirement Solutions and the American Hospital Association found. Sixty-eight percent of health care providers say “helping employees accumulate income for retirement” is the primary goal of their plan, up from 65% in 2014. Asked about the best indicator of plan success, employees’ retirement readiness now surpasses participation rates, with 41% citing retirement readiness, up from 35% in 2014, and 39% pointing to participation rates, down from 48% in 2014.Read more >
Delta Pilots Emergency Savings Program
TIAA Class Action Reversal May Impose Significant Procedural Hurdle for Future Cases
Ask the Experts
How Does SECURE 2.0 Affect The Due Date for SECURE and CARES Act Plan Amendments?
Second Opinions
SECOND OPINIONS: Questions About ACA Excise Tax
Internal Revenue Code (IRC) Section 4980I, as enacted by the Patient Protection and Affordable Care Act (ACA), imposes a 40%, nondeductible excise tax on employers, health insurance issuers and/or other entities administering health plan benefits if the aggregate value of “applicable employer-sponsored coverage” exceeds a specified annual dollar limit. Experts from Groom Law Group answer questions about the excise tax and Internal Revenue Service (IRS) guidance.Read more >
Products, Deals & People
Retirement plan advisers of LPL Financial will be able to offer the financial wellness program SmartDollar to their participants. SmartDollar is the creation of Ramsey Solutions, Dave Ramsey’s personal finance organization. The program adds to the financial planning and financial education resources available on LPL’s Worksite Financial Solutions platform.Read more >
MassMutual Call Center Reps Can Co-Browse With Participants
MassMutual is introducing website co-browsing for call center representatives and participants. The goal is to allow call center employees—with the permission of participants—to view what the participant is seeing when answering questions about information on retirement plan websites.Read more >
Sponsored message from Charles Schwab
“The unique value of Target-Date Funds” from Charles Schwab Investment ManagementRead more >
Market Mirror

U.S. stock indices ended broadly lower Tuesday after a handful of companies turned in disappointing quarterly results, according to the Associated Press. The Dow fell 181.12 points (1.00%) to 17,919.29, the NASDAQ was down 10.74 points (0.21%) at 5,208.12, and the S&P 500 decreased 9.07 points (0.43%) to 2,119.21. The Russell 2000 closed 5.65 points (0.45%) lower at 1,254.58, and the Wilshire 5000 lost 102.74 points (0.46%) to finish at 22,310.37.


On the NYSE, 3.2 billion shares traded, and on the NASDAQ nearly 2.9 billion shares changed hands, with 1.5 declining issues for every advancing issue on both exchanges.


The price of the 10-year Treasury note was up 11/32, decreasing its yield to 2.336%. The price of the 30-year Treasury bond increased 18/32, bringing its yield down to 3.074%.

IRS Revises Determination Letter Program
As has been reported by some law firms and certain Internal Revenue Service (IRS) officials, the agency is eliminating the staggered five-year determination letter remedial amendment cycles for individually designed retirement plans. In IRS announcement 2015-19, the agency says it needs to more efficiently direct its limited resources. Effective January 1, 2017, the scope of the determination letter program for individually designed plans will be limited to initial plan qualification and qualification upon plan termination.Read more >
PBI Bank Settles with DOL Over ESOP Transaction
The Department of Labor (DOL) has reached a settlement with PBI Bank in a lawsuit regarding the bank’s role as trustee of the Miller’s Health Systems Inc. employee stock ownership plan (ESOP). In the suit, the DOL alleges that PBI Bank authorized the purchase of company stock by the plan for $40 million, an amount far in excess of the fair market value of the stock. It is also alleged that PBI Bank approved financing for the transaction at an excessive interest rate.Read more >
Small Talk
More than one-third (37%) of workers surveyed by OfficeTeam said multiple people talking at the same time is the most annoying or distracting behavior on conference calls. Nearly one-quarter (24%) selected “excessive background noise.” OfficeTeam came up with five types of conference call etiquette offenders.Read more >
ON THIS DATE: In 1934, outside Chicago’s Biograph Theatre, notorious criminal John Dillinger—labelled America’s “Public Enemy No. 1”—was killed in a hail of bullets fired by federal agents. In 2004, the September 11 commission’s final report was released. The 575-page report concluded that hijackers exploited “deep institutional failings within our government.” The report was released to White House officials the day before. In 2009, the longest total solar eclipse of the 21st century, lasting up to six minutes and 38.8 seconds, occurred over parts of Asia and the Pacific Ocean.
WEDNESDAY WISDOM: “Most people have never learned that one of the main aims in life is to enjoy it.” —Samuel Butler, Victorian era English author
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 >

Editorial: Alison Cooke Mintzer


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