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| ‘Understanding Numbers’ Would Motivate Participants to Save More |
| Individuals vary in what motivates them to save, but 67% agree that helping them to “understand their numbers”—how much more they should be saving or how much they should have in their retirement plan today to ensure a financially secure retirement—is a very effective way for an employer to encourage them to save, according to a survey from J.P. Morgan. At least half (52%) look to their employer to provide a viewpoint about how much to contribute to their plan, while 41% think they should be notified if they are not saving enough.Read more > |
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| Market Mirror |
Yesterday, the Dow lost 77.79 points (0.42%) to finish at 18,493.06, the NASDAQ was down 2.53 points (0.05%) at 5,097.63, and the S&P 500 decreased 7.85 points (0.36%) to 2,167.18. The Russell 2000 climbed 32.46 points (2.76%) to 1,209.82, and the Wilshire 5000 closed 60.20 points (0.27%) lower at 22,476.47.
On the NYSE, 3.1 billion shares changed hands, with 1.7 declining issues for every advancing issue. On the NASDAQ, 2.7 billion shares traded, with a 1.3 to 1 ratio of decliners to advancers.
The price of the 10-year Treasury note was down 4/32, increasing its yield to 1.578%. The price of the 30-year Treasury bond decreased 5/32, bringing its yield up to 2.290%. |
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| Sponsored message from Alger |
Alger: Conversations With Tomorrow
The Future of Technology: Smarter Tech, Smarter People, Smarter PlanetRead more > |
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| Compliance |
| Bill Introduced to Make Social Security Sustainable |
| Congressman Reid Ribble (R-Wisconsin) has introduced the Save Our Social Security Act in order to make Social Security solvent for another 75 years. The legislation proposes to close the collection/spending gap through progressive revenue, progressive benefit changes, and increasing the retirement age.Read more > |
| Avon Products Settles ERISA Stock Drop Suit |
| The Employee Retirement Income Security Act (ERISA) lawsuit over Avon’s handling of the company stock fund investment option in its retirement plan says that in October 2008, Avon disclosed that it was conducting an investigation into the possibility of misconduct in connection with its China operations. In October 2011, the Securities and Exchange Commission (SEC) announced it initiated its own investigation into Avon’s alleged Foreign Corrupt Practices Act (FCPA) violations. According to the lawsuit, Avon’s stock price steadily declined during this period through the announcement of a joint settlement with the SEC and Department of Justice in May 2014—from $32.41 per share to $13.72 per share.Read more > |
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| From the Magazine |
| TPAs Supporting Plan Design |
| Just one among the many difficult aspects of learning to run a retirement plan is coming to appreciate the sometimes subtle, but clearly critical, differences between a recordkeeper and a third-party administrator (TPA)—a task made all the harder by the near-constant evolution in business models, technology and client service preferences. So how do the two types of providers differ?Read more > |
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| Small Talk |
| ON THIS DATE: In 1775, a postal system was established by the 2nd Continental Congress of the United States. The first Postmaster General was Benjamin Franklin. In 1788, New York became the 11th state to ratify the U.S. Constitution. In 1881, Thomas Edison and Patrick Kenny execute a patent application for a facsimile telegraph (U.S. Pat. 479,184). In 1947, U.S. President Truman signed The National Security Act. The act created the National Security Council, the Department of Defense, the Central Intelligence Agency and the Joint Chiefs of Staff. In 1948, U.S. President Truman signed executive orders that prohibited discrimination in the U.S. armed forces and federal employment. In 1998, AT&T and British Telecommunications PLC announced they were forming a joint venture to combine international operations and develop a new Internet system. |
| TRIVIAL PURSUITS: We are all familiar with the ‘SOS’ distress signal, but what does ‘SOS’ stand for?Read more > |
| Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
