Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 6th, 2018
Benefits & Administration
Expectations About Income Needed in Retirement May Be Too High
In the U.S., pre-retirees think they will need 74% of their income to live comfortably in retirement, but retirees actually receive 58%, and the majority of retirees consider their income to be sufficient, a survey finds.Read more >
Surcharges Emerging As a Way to Cut Employer Health Benefit Costs
Sharing the costs of health care with employees is a common strategy employers use to manage their costs. According to a study from the Society of Human Resource Management (SHRM), more than three-quarters of organizations share the cost of health care with their employees for full- and part-time employees (83%) and spouses (77% for both opposite- and same-gender spouses). In addition, overall, approximately one-fifth of organizations have a restriction or other cost-saving measure in place for coverage of spouses and domestic partners, a survey from SHRM finds.Read more >
Lessons Learned from PLANSPONSOR HSA Boot Camp
The 2018 PLANSPONSOR National Conference this year included, for the first time, an entire morning dedicated solely to the topic of health savings accounts (HSAs). Many attendees said they are actively seeking advice on the best ways to implement and manage HSA programs—how to link these to more traditional approaches to workplace health insurance and to the employer-sponsored retirement plan. Speakers during the event busted some common misperceptions.Read more >
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
Participants Will Need Support to Understand Lifetime Income Projections
2021 Recordkeeping Survey
2021 Best in Class DC Providers
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Products, Deals and People
Vanguard to Offer Commission-Free ETF Online Transactions
Vanguard has announced reductions in the cost of investing with the firm by providing commission-free online transactions for the vast majority of exchange-traded funds (ETFs). The program will exclude highly speculative and complex ETFs, according to Vanguard. Vanguard expects online transactions to be available in August and will include the majority of ETFs traded on the major exchanges.Read more >
Economic Events

In the week ending June 30, the advance figure for seasonally adjusted initial claims for unemployment insurance was 231,000, an increase of 3,000 from the previous week’s revised level of 228,000, the Labor Department reported. The four-week moving average was 224,500, an increase of 2,250 from the previous week’s revised average of 222,250.

The average interest rate for a 30-year fixed-rate mortgage is 4.52%, down from 4.55% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.99%, down from 4.04%.

Sponsored message from MetLife
Retirement Income Gaining Interest Among Plan Sponsors and Participants

MetLife’s Roberta Rafaloff on how employers can help guide employees in terms of structuring retirement income. Read more >
Market Mirror

Thursday, the Dow gained 181.92 points (0.75%) to finish at 24,356.74, the NASDAQ closed 3.75 points (1.12%) higher at 7,586.43, and the S&P 500 was up 23.39 points (0.86%) at 2,736.61. The Russell 2000 increased 19.06 points (1.15%) to 1,679.48, and the Wilshire 5000 climbed 244.53 points (0.86%) to 28,621.51.

The price of the 10-year Treasury note was unchanged, with its yield down to 2.831%. The price of the 30-year Treasury bond increased 9/32, decreasing its yield to 2.946%.

Industry Voices
Saxon Angle: The Final Chapter
On June 21, the U.S. Court of Appeals for the 5th Circuit issued its mandate officially vacating in toto the Department of Labor (DOL)’s 2016 fiduciary rule, including the best interest contract or “BIC” exemption, along with the DOL’s other related 2016 prohibited transaction exemptions (PTEs). The mandate is the final chapter in the department’s fiduciary rule saga and follows the 5th Circuit’s March 15th judgment in U.S. Chamber of Commerce v. DOL, where the court held that the fiduciary rule was invalidly promulgated. Stephen Saxon and George Sepsakos, with Groom Law Group, provide some background of the ruling and what can be expected going forward.Read more >
Small Talk

ON THIS DATE: In 1699, Captain William Kidd, the pirate, was captured in Boston, Massachusetts, and deported back to England. In 1777, British forces captured Fort Ticonderoga during the American Revolution. In 1885, Louis Pasteur successfully tested his anti-rabies vaccine. In 1928, “The Lights of New York” was previewed in New York’s Strand Theatre. It was the first all-talking movie. In 1933, the first All-Star baseball game was held in Chicago. The American League beat the National League 4-2. In 1942, diarist Anne Frank and her family took refuge from the Nazis in Amsterdam. In 1945, President Harry Truman signed an order creating the Medal of Freedom. In 1948, Frieda Hennok became the first woman to serve as the commissioner of the Federal Communications Commission. In 1957, Althea Gibson won the Wimbledon women’s singles tennis title. She was the first black athlete to win the event. In 1981, the Dupont Company announced an agreement to purchase Conoco, Inc. (Continental Oil Co.) for $7 billion. At the time it was the largest merger in corporate history. In 1983, the U.S. Supreme Court ruled that retirement plans could not pay women smaller monthly payments solely because of their gender. In 1985, Martina Navratilova won her 4th consecutive Wimbledon singles title. In 1996, Steffi Graf won her seventh Wimbledon title.

And now it’s time for FRIDAY FILES!

An oldie, but goodie.Read more >
Why are they teaching about Cheez-Its in church?Read more >
Grandpa shows off dance moves in the mall.Read more >

In Minersville, Pennsylvania, a 44-year-old parking ticket has been paid. According to the Associate Press, the police department received a letter last week with $5 and a note inside. The return address was “Feeling guilty, Wayward Road, Anytown, Ca.” Police Chief Michael Combs told WNEP-TV the note said, “Dear PD, I’ve been carrying this ticket around for 40 plus years. Always intending to pay. Forgive me if I don’t give you my info. With respect, Dave.” The fine for the 1974 parking ticket in the eastern Pennsylvania town was $2. But the person added $3 for interest. The same ticket today would be $20.


In Warsaw, Poland, an environmental group has received a phone bill of 10,000 zlotys ($2,650). The group was using the phone transmitter to track migratory movements of a stork. According to the Associated Press, the bird’s last signal came from Sudan on April 26. But later, the group heard that some 20 hours of calls had been made using the SIM card in Sudan.


In the UK, during a speech in the House of Commons, Defense Secretary Gavin Williamson was interrupted—by his phone. He was speaking about Islamic State terr.orists in Syria when Siri―triggered by the country’s name―said “I found something on the web for Syria.” The Huffington Post reports that as Williamson began looking around in surprise, House of Commons members erupted in laughs. “It is very rare that you’re heckled by your own mobile phone,” Williamson said as he apologized.


Hope everyone has a wonderful weekend!

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 >

Editorial: Alison Cooke Mintzer


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