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| Helping Employees Build Emergency Savings | |
| The term “sidecar savings accounts” has been introduced into the retirement industry’s lexicon, and new legislation has been introduced to allow employers to auto enroll employees into them. If retirement plan participants had a source of emergency savings, they may not dip into their retirement accounts. Read more > | |
| Products, Deals and People | |
| Retirement Industry People Moves | |
| Northern Trust Grows Sales Team; Chief Operating Office Joins Russell Investments; Voya Appoints Chief Information Security Officer; and more. Read more > | |
| Sponsored message from ADP | |
| Getting Ahead Of The Curve Digital advice platforms can help younger workers save for retirement. Read more > | |
| Economic Events | |
THE ECONOMIC WEEK AHEAD: Today, the National Association of Realtors will report about existing home sales in June. Wednesday, the Census Bureau will report about new home sales in June. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders in June. | |
| Market Mirror | |
Friday, the Dow was down 6.38 points (0.03%) at 25,058.12, the NASDAQ slipped 5.10 points (0.07%) to 7,820.20, and the S&P 500 decreased 2.66 points (0.09%) to 2,801.83. The Russell 2000 closed 4.50 points (0.26%) lower at 1,696.81, and the Wilshire 5000 lost 39.16 points (0.13%) to finish at 29,287.11.
The price of the 10-year Treasury note decreased 14/32, bringing its yield up to 2.893%. The price of the 30-year Treasury bond fell 1 12/32, increasing its yield to 3.028%.
WEEK’S WORTH: For the week ending July 20, the Dow finished 0.15% higher, the NASDAQ lost 0.07%, and the S&P 500 was up 0.02%. The Russell 2000 gained 0.58%, and the Wilshire 5000 increased 0.09%. | |
| Compliance | |
| IRS Finalizes Rules for Definitions of QMAC and QNEC | |
| In the final regulations, the agency addressed commenters’ concerns that the definitions would preclude them from using forfeiture accounts to fund the contributions. Read more > | |
| R.I. Treasurer to Propose Financial Transparency Legislation for Church Pension Plans | |
| General Treasurer Seth Magaziner announced that he will seek legislation in the 2019 General Assembly session that would require pension plans managed by religious organizations in Rhode Island to send regular updates on the financial health of the pensions to their plan participants. Read more > | |
| Small Talk | |
ON THIS DATE: In 1715, the first lighthouse in America was authorized for construction at Little Brewster Island, Massachusetts. In 1827, the first swimming school in the U.S. opened in Boston. In 1829, William Burt patented the typographer, which was the first typewriter. In 1877, the first municipal railroad passenger service began in Cincinnati, Ohio. In 1914, Austria-Hungary issued an ultimatum to Serbia following the killing of Archduke Francis Ferdinand by a Serb assassin. The dispute led to World War I. In 1938, the first federal game preserve was approved by the U.S. Fish and Wildlife Service. The area was 2,000 acres in Utah. In 1962, the “Telstar” communications satellite sent the first live TV broadcast to Europe. In 1985, Commodore unveiled the personal computer Amiga 1000. In 1998, U.S. scientists at the University of Hawaii turned out more than 50 “carbon-copy” mice, with a cloning technique. In 2000, Lance Armstrong won his second Tour de France. | |
| SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Which summer workplace issues does your company experience?” Apparently hygiene is not a common summer workplace issue among responding readers, since the fewest amount of readers selected this one (2.7%). More predominant issues that occur in respondents workplaces were “an office that is too cold” (45.9%) and “employees taking the more casual dress code too far” (40.5%). It was surprising to see how many responding readers who chose to leave comment had few, if any, of the workplace issues listed. Office temperature was the most discussed in comments, and a few listed issues with dress codes. Editor’s Choice goes to the reader who said: “I have been working in the summer since I was 16 and still largely dislike doing so. Something about warm sunshine calls me to be out hiking or reading in the sun instead of under the glare of florescent lights and computer screens…how long until retirement?” Thanks to all who participated in the survey! 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 > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
Advertising: Paul Zampitella paul.zampitella@strategic-i.com
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