Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 29th, 2016
Benefits & Administration
Retirees Not Spending What They Draw Down
Research from Vanguard suggests the discussion needs to shift to spending rather than withdrawal rates from financial accounts, in order to effectively measure the sustainability of savings in retirement.Read more >
More Small and Mid-Sized Firms Using Self-Insured Health Plans
The shares of private-sector self-insured health plans and number of covered workers in self-insured health plans have increased among small and mid-sized firms since enactment of the Affordable Care Act (ACA) in 2010, according to new research from the Employee Benefit Research Institute (EBRI).Read more >
MOST READ ARTICLES
1
2021 DC Plan Benchmarking Survey
2
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
3
Working Past Age 65 May Seem Like a Great Idea …
4
TRIVIAL PURSUITS: Residents of the Island of Misfit Toys
5
2021 Recordkeeping Survey
Most DC Plan Sponsors Still Leary of Lifetime Income Products
The majority of defined contribution (DC) plan sponsors offering lifetime income solutions to participants, prefer offering systematic withdrawals and education rather than guaranteed insurance-backed products.Read more >
Products, Deals and People
Investment Products and Services
Vanguard Closes Dividend Growth Fund; Schwab Offers Fund Tracking the S&P 500 Equal Weight Index, and more.Read more >
Empower Offers Guide for Checking Recordkeeper Security
Empower Retirement is offering “Plan Efficiency Through Technology: A Guide to Recordkeeping Solutions and Security” for advisers, consultants and plan sponsors. The 10-page guide provides detailed capabilities and benefits of modern recordkeeping systems. It also addresses the issues of data security with specific questions to be asked when choosing a recordkeeping provider.Read more >
Economic Events

In the week ending July 23, the advance figure for seasonally adjusted initial claims for unemployment insurance was 266,000, an increase of 14,000 from the previous week’s revised level of 252,000, the Labor Department reported. The four-week moving average was 256,500, a decrease of 1,000 from the previous week’s revised average of 257,500.

The average interest rate for a 30-year fixed-rate mortgage is 3.48%, up from 3.45% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.78%, up from 2.75%.
Market Mirror

Thursday, the Dow was down 15.82 points (0.09%) at 18,456.35, the NASDAQ increased 15.17 points (0.30%) to finish at 5,154.98, and the S&P 500 was up 4.77 points (0.22%) at 2,171.35. The Russell 2000 decreased by 1.60 (0.13%) to 1,217.32, and the Wilshire 5000 closed 33.02 points (0.15%) higher at 22,497.42.

On the NYSE, 3.1 billion shares traded, with a slight lead for advancing issues. On the NASDAQ, 2.7 billion shares changed hands, with a slight lead for decliners.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.505%. The price of the 30-year Treasury bond decreased 9/32, bringing its yield up to 2.224%.
Compliance
$2 Million Retirement Plan Never Properly Terminated
The U.S. Department of Labor (DOL) has obtained a consent judgment and order to remove a fiduciary from a $2.2 million employee savings plan and trust in Ashland, Kentucky. According to a lawsuit filed by the DOL, involved in the coal mining industry, Horizon NR LLC ceased operations on September 28, 2004, but the fiduciary to the plan never terminated the plan.Read more >
Small Talk

ON THIS DATE: In 1773, the first schoolhouse to be located west of the Allegheny Mountains was built in Schoenbrunn, Ohio. In 1786, “The Pittsburgh Gazette” became the first newspaper west of the Alleghenies to be published. The paper’s name was later changed to “The Pittsburgh Post-Gazette.” In 1874, Major Walter Copton Winfield of England received a U.S. patent for the lawn-tennis court. In 1914, the first transcontinental telephone service was inaugurated when two people held a conversation between New York City and San Francisco. In 1950, Disney’s adaptation of Robert Louis Stevenson’s “Treasure Island” was released. In 1957, Jack Paar began hosting the “Tonight” show on NBC-TV. The name of the show was changed to “The Jack Paar Show.” Paar was host for five years. In 1958, the National Aeronautics and Space Administration (NASA) was authorized by the U.S. Congress. In 1998, the United Auto Workers union ended a 54-day strike against General Motors. The strike caused $2.8 billion in lost revenues. In 2005, astronomers announced that they had discovered a new planet (Xena) larger than Pluto in orbit around the sun.

 

And now it’s time for FRIDAY FILES!
An easier way to get through the airport—rideable luggage.Read more >
Researchers in Stockholm found more people would take the stairs if it is fun to do.Read more >

In Shreveport, Louisiana, a man was washing his vehicle at a car wash when a man pointed a gun at him and demanded his keys and cash. KSLA-TV reports that the man turned the powerful spray on the gunman and tried to hit him with the wand. He also fended off another man who came around the other side of the vehicle.

In Wandsworth, New Zealand, a woman is suing her neighbor—for cooking spicy foods. The New Zealand Herald reports that she is also looking for compensation, as she claims the fumes from the “strong overwhelming vapor of hot chillis” from the flat above her home “constricts her airways and burns her windpipe” and “permeates her home” for up to eight hours.

In Orlando, Florida, Krispy Kreme donuts can be addictive, but this is ridiculous. A 64-year-old driver was stopped by police. Police wrote in their report that during the traffic stop, they noticed four flakes on the floorboard they suspected were me.th. According to the Orlando Sentinel, police say a road side test showed positive for the substance. However, a state crime lab confirmed the flakes were indeed donut glaze.

You know the word-play sentence, “You can tune a piano, but you can’t tuna fish.” A competition is held every year for people to come up with the best such phrase. See entries as well as the winning submission.Read more >
Have a great weekend, everyone!
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 alison.mintzer@strategic-i.com

Advertising: advertise@strategic-i.com

Subscribe to NEWSDash, click here .

To unsubscribe, click here.

BrightScope / CIO / FWW / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund