Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 27th, 2016
Benefits & Administration
A Plan Sponsor Finds Surprises in Adviser Benchmarking
Happy with its existing plan adviser, Dot Foods may have only begun an RFP process for due diligence purposes, but discoveries made during the exercise led it to hire a new adviser.Read more >
Retirement Planning Focus Differs by Age
Age-specific strategies to reach retirement plan participants, rather than a one-size-fits-all approach, is the most effective method for plan sponsors to help participants become retirement ready, according to an analysis of participant website visits by OneAmerica.Read more >
2022 Recordkeeping Survey
IRS Updates Life Expectancy Tables for Retirees
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
PLANSPONSOR’s 2016 Third-Party Administrator Survey
PLANSPONSOR’s first Third-Party Administrator (TPA) Survey questionnaire gathered high-level information pertaining to each TPA firm’s size, service and capabilities in order to provide a sense of the overall TPA market landscape.Read more >
Industry Voices
Overcoming Fear! – Part 1
Gary Findlay, former Executive Director of the Missouri State Employees Retirement System (MOSERS), says public pension leaders need to get over their fears and do the right thing.Read more >
Economic Events

The Conference Board Consumer Confidence Index, which had increased in June, was relatively unchanged in July. The Index now stands at 97.3 (1985=100), compared to 97.4 in June. The Present Situation Index increased from 116.6 to 118.3, while the Expectations Index edged down to 83.3 from 84.6 in June.

Sales of new single-family houses in June were at a seasonally adjusted annual rate of 592,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.5% above the revised May rate of 572,000 and is 25.4% above the June 2015 estimate of 472,000.
Market Mirror

Tuesday, the Dow was down 19.31 points (0.10%) at 18,473.75, the NASDAQ closed 12.42 points (0.24%) higher at 5,110.05, and the S&P 500 was virtually unchanged at 2,169.16. The Russell 2000 was up 7.03 points (0.58%) at 1,216.85, and the Wilshire 5000 increased 21.65 points (0.10%) to 22,498.11.

On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.7 billion shares traded, with 3 advancing issues for every 2 declining issues on both exchanges.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.565%. The price of the 30-year Treasury bond increased 5/32, bringing its yield down to 2.281%.
Bank of America Settles Mortgage-Backed Securities Case
The U.S. District Court for the Southern District of New York has preliminarily approved a settlement of a lawsuit brought by Pennsylvania Public School Employees’ Retirement System against Bank of America over the bank’s mortgage-backed securities program. The bank has agreed to pay $335 million.Read more >
Ask the Experts
Can Governmental 403(b)s Elect to Be ERISA Plans?
A governmental 403(b) plan sponsor attending the non-ERISA 403(b) Update panel at the 2016 PLANSPONSOR National Conference asked, “I realize that governmental plan sponsors are exempt from Employee Retirement Income Security Act (ERISA) coverage. But can governmental plan sponsors voluntarily elect to be covered under ERISA?”Read more >
Small Talk
Nearly three in five workers (59%) believe the traditional 9-to-5 work day is a thing of the past. Forty-five percent of workers say they complete work outside of office hours; and 49% say they check or answer emails when they leave work. Whether an employee spends time working outside of office hours differs by age and gender.Read more >

ON THIS DATE: In 1775, Benjamin Rush began his service as the first Surgeon General of the Continental Army. In 1789, the Department of Foreign Affairs was established by the U.S. Congress. The agency was later known as the Department of State. In 1804, the 12th Amendment to the U.S. Constitution was ratified. With the amendment Electors were directed to vote for a President and for a Vice-President rather than for two choices for President. In 1866, Cyrus Field successfully completed the Atlantic Cable. It was an underwater telegraph from North America to Europe. In 1909, Orville Wright set a record for the longest airplane flight. He was testing the first Army airplane and kept it in the air for one hour 12 minutes and 40 seconds. In 1921, Canadian biochemist Frederick Banting and associates announced the discovery of the hormone insulin. In 1940, Bugs Bunny made his official debut in the Warner Bros. animated cartoon “A Wild Hare.” In 1953, the armistice agreement that ended the Korean War was signed at Panmunjon, Korea. In 1965, in the U.S., the Federal Cigarette Labeling and Advertising Act was signed into law. The law required health warnings on all cigarette packages. In 1974, the U.S. Congress asked for impeachment procedures against President Richard Nixon. In 1995, the Korean War Veterans Memorial was dedicated in Washington, D.C., by U.S. President Clinton and South Korean President Kim Young-sam. In 1999, the U.S. space shuttle Discovery completed a five-day mission commanded by Air Force Col. Eileen Collins. It was the first shuttle mission to be commanded by a woman.


WEDNESDAY WISDOM: “Our character is what we do when we think no one is looking.”—H. Jackson Brown, Jr., author best known for his book, “Life’s Little Instruction Book.”
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 >

Editorial: Alison Cooke Mintzer


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