Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 22nd, 2019

Stopping a Retirement Crisis

Currently, America has a retirement plan coverage gap, a retirement savings gap and a guaranteed income gap, which plan sponsors and lawmakers need to address to avoid a retirement crisis.Read more >
Best of PLANSPONSOR National Conference
PLANSPONSOR is once again taking its popular PLANSPONSOR National Conference (PSNC) on the road to bring plan sponsors and retirement plan advisers in five major locations access to the key topics discussed at our national conference in June. In a half-day format, you’ll drill down into the latest industry trends and best practices in critical areas including plan design, fund lineup construction, financial wellness and participant education, regulatory compliance and more. Join us to discuss practical solutions for your plans and participants in San Francisco, Houston, Chicago, Boston and New York in November!Read more >
Trump to Nominate Son of Late Antonin Scalia as Labor Secretary
The son of late Assistant Supreme Court Justice Antonin Scalia failed to get confirmation from the Senate for the position of Department of Labor Solicitor when President George W. Bush was in office.Read more >
Defined Benefit Plans May Have New Life
Ask the Experts
Can an Alternate Payee Designate a Beneficiary?
Florida's DeSantis Joins Other GOP Pols in Opposing ‘Woke Capital’
Sponsored message from Capital Group
Your employees go above and beyond.
Learn how you can give them the 401(k) they deserve with the target date series from Capital Group, home of American Funds.Read more >
Economic Events
THE ECONOMIC WEEK AHEAD: Tomorrow, the National Association of Realtors will report about existing home sales for June. Wednesday, the Census Bureau will report about new home sales for June. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders for June.
Market Mirror

Friday, the Dow lost 68.77 points (0.25%) to finish at 27,154.20, the NASDAQ closed 60.75 points (0.74%) lower at 8,146.49, and the S&P 500 decreased 18.50 points (0.62%) to 2,976.61. The Russell 2000 was down 7.73 points (0.50%) at 1,547.90, and the Wilshire 5000 fell 180.93 points (0.59%) to 30,607.58.


The price of the 10-year Treasury note decreased 24/32, bringing its yield up to 2.048%. The price of the 30-year Treasury bond was down 3/32, increasing its yield to 2.576%.


WEEK’S WORTH: For the week ending July 19, the Dow was down 0.65%, the NASDAQ decreased 1.18%, and the S&P 500 lost 1.23%. The Russell 2000 fell 1.41%, and the Wilshire 5000 finished 1.22% lower.
Benefits & Administration
Financial Difficulties Keep Employees From Retirement Preparedness
PwC says its survey findings should prompt employers to revisit their financial wellness programs to ensure they are addressing the challenges employees are facing and motivating them to make improvements to their overall financial well-being and retirement readiness.Read more >
Products, Deals and People
Retirement Industry People Moves
TIAA hires chief customer officer; Northern Trust announces COO for global foreign exchange; CapAcuity merges with executive benefits firm; and more.Read more >
GoalPath Offers Defined Outcome System
The company calls it a defined outcome system because it is a suite of tools that emphasizes retirement income over account balances.Read more >
Sponsored message from PIMCO
2019 PIMCO Defined Contribution Consulting Study
Providing retirement income potential, evaluating TDFs and plan costs, and simplifying investment menus are key.Read more >
Small Talk
ON THIS DATE: In 1933, Wiley Post ended his around-the-world flight. He had traveled 15,596 miles in 7 days, 18 hours and 45 minutes. In 1934, outside Chicago’s Biograph Theatre, notorious criminal John Dillinger—America’s “Public Enemy No. 1″—was killed in a hail of bullets fired by federal agents. In 1937, the Senate rejected President Franklin Roosevelt’s proposal to add more justices to the Supreme Court. In 1943, American forces led by General George S. Patton captured Palermo, Sicily. In 1975, Confederate General Robert E. Lee had his U.S. citizenship restored by Congress. 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.” In 2009, the longest total solar eclipse of the 21st century, lasting up to 6 minutes and 38.8 seconds, occurred over parts of Asia and the Pacific Ocean. In 2013, Prince George, first child of Prince William and Kate Middleton, was born.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “When it comes to friends and family, do you text more or talk more?” With family, 41.2% of responding readers indicated they text more. Nearly four in 10 (39.2%) talk more, and 19.6% said they text and talk about the same amount. With friends, nearly two-thirds (64.7%) of respondents reported they text more. Slightly more than 29% talk more and 5.9% say they text and talk about the same amount. Readers who chose to leave comments were split between those who prefer texting and those who prefer conversation. Those who prefer texting cited convenience and the ability to text multiple people at once, among other things, as reasons. Those who prefer talking say it’s more personal and rewarding, and that the tone in texts can be misconstrued. Editor’s Choice goes to the reader who said: “Some things just take more time to work through than I’m willing to spend typing a text.” Thanks to all who participated in the survey!Read more >
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Editorial: Alison Cooke Mintzer


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