Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 24th, 2018
Benefits & Administration
Caregiving Can Take a Toll on Savings
One out of every five people in the U.S., or 65 million people, has a disability, and one out of every six workers, or 105 million people, assist with caregiving, be it for a family member with a disability or an aging parent. Caregivers spend an average of 24 hours a week caring for their loved ones, but only 56% of caregivers report their responsibility to their employers. (This feature article is part of our exclusive content and requires a free registration to read.)  Read more >
Millennials Seek Out Advisers They Can Trust
The vast majority (87%) of Millennials say that if they knew more about financial services and products, they would be more confident about reaching their financial goals. Their interest in financial services and products is also seen in that 75% of Millennials say they would attend an in-person financial seminar, compared to 69% of Gen X and 62% of Baby Boomers, a survey by Guardian found. Read more >
PLANSPONSOR Research
Top DC Recordkeepers
This year, PLANSPONSOR’s 2018 Plan Administration Guide, Part Two: Recordkeeping Survey lists top providers for the overall defined contribution (DC) industry, as well as subcategories in the 401(k), 403(b), 457 and NQDC plan segments. (This research is part of our exclusive content and requires a free registration to read.)  Read more >
MOST READ ARTICLES
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House Committee Advances Bill to Establish Union Pension Lifeline Program
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The Senate Math That Could Block SECURE Act
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Open MEPs Not for Every Plan Sponsor
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Adidas Sued Over Excessive Fees for 401(k) Participants
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Employers Encouraged to Offer Multi-Dimensional Wellness Programs
Products, Deals and People
Milliman Unifies DC and DB Businesses
Milliman announced late last week that it is “bringing together” all defined contribution (DC) and defined benefit (DB) plan administration services nationwide under a unified organizational structure and executive team, dubbed the Employee Benefit Administration Practice (EBAP). In creating a unified sales and service structure, the firm wants to provide a more consistent experience for both advisers and plan sponsor clients regardless of market size, location or organizational structure. Read more >
Sponsored message from Millennium Trust
Automatic Rollovers: From Footnote to Fiduciary Best Practice.  Learn how automatic rollovers have evolved, and how they will impact retirement plans in the future.  Read more >
Economic Events

Existing-home sales decreased for the third straight month in June, as declines in the South and West exceeded sales gains in the Northeast and Midwest, according to the National Association of Realtors. The ongoing supply and demand imbalance helped push June’s median sales price to a new all-time high. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 0.6 percent to a seasonally adjusted annual rate of 5.38 million in June from a downwardly revised 5.41 million in May. With last month’s decline, sales are now 2.2 percent below a year ago.

Market Mirror

Monday, the Dow was down 13.83 points (0.06%) at 25,044.29, the NASDAQ gained 21.68 points (0.28%) to 7,841.87, and the S&P 500 increased 5.15 points (0.18%) to 2,806.98. The Russell 2000 closed 1.61 points (0.09%) higher at 1,698.41, and the Wilshire 5000 gained 76.10 points (0.26%) to finish at 29,363.21.

The price of the 10-year Treasury note decreased 18/32, bringing its yield up to 2.962%. The price of the 30-year Treasury bond fell 1 12/32, increasing its yield to 3.097%.

From the Magazine
Do You Document Investment Changes?
Regular reviews of the plan investment menu are part of a prudent fiduciary process—which can also include the drafting of an investment policy statement (IPS) and formation of an investment committee—although neither are required. We analyzed sponsor data from the 2017 Defined Contribution (DC) Survey, looking at plans of various sizes, both with and without an IPS and investment committee, to see whether that criteria translates to better documentation of investment changes. (This magazine article is part of our exclusive content and requires a free registration to read.) Read more >
Investing
DC Plan Priorities Make ESG More Palatable
Of the 12% of institutional investor respondents to a recent survey by NEPC that have incorporated environmental, social and governance (ESG) investing, most (70%) are DC plans, and more than half (62%) are healthcare-focused organizations. Brad Smith, partner in NEPC’s Corporate Practice, points out that nearly a third of respondents suggest they have not yet implemented ESG investments but are interested in doing so in the future. Read more >
Small Talk

ON THIS DATE: In 1847, Mormon leader Brigham Young and his followers arrived in the valley of the Great Salt Lake in present-day Utah. In 1866, Tennessee became the first state to be readmitted to the Union after the U.S. Civil War. In 1911, American archaeologist Hiram Bingham got his first look at Machu Picchu, an ancient Inca settlement in Peru that is now one of the world’s top tourist destinations. In 1956, Dean Martin and Jerry Lewis ended their comic team a decade after it began on July 25, 1946. In 1969, at 12:51 EDT, Apollo 11, the U.S. spacecraft that had taken the first astronauts to the surface of the moon, safely returned to Earth, splashing down in the Pacific Ocean. In 1974, the U.S. Supreme Court unanimously ruled that President Nixon had to turn over subpoenaed White House tape recordings to the Watergate special prosecutor. In 1982, the Rocky movie franchise produced its second No. 1 pop hit when Survivor’s “Eye Of The Tiger” began a six-week run atop the Billboard pop chart.

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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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