Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 1st, 2016
Benefits & Administration
PBGC Data Tables Show Serious Underfunding
The single-employer program is underfunded by more than $19 billion, and the multiemployer program is underfunded by more than $42 billion.Read more >
DC Plans Add Value for Employees
Greater awareness of retirement and financial concepts and a better perception of employer generosity are some of the value employees get from defined contribution (DC) plans, according to PLANSPONSOR’s 2016 Participant Survey.Read more >
Ask the Experts
What to Do with Proxy Statements
“We just received a proxy statement, along with a request for voting, for one of the investments held in our company’s ERISA 403(b) plan. What should we do with it?”Read more >
MOST READ ARTICLES
1
2021 Recordkeeping Survey
2
Addressing Forgotten Accounts Can Improve Retirement Savings Outcomes
3
DOL Clears Up Timing for Lifetime Income Illustrations
4
2021 Trends in Open Enrollment
5
2020 Recordkeeping Survey
Economic Events
The Conference Board Consumer Confidence Index, which had decreased in April, declined further in May. The Index now stands at 92.6 (1985=100), down from 94.7 in April. The Present Situation Index decreased from 117.1 to 112.9, while the Expectations Index declined from 79.7 to 79.0 in May.
Market Mirror

Stocks struggled to a mixed close after a slide in energy and consumer goods companies outweighed gains elsewhere in the market, according to the Associated Press. The Dow lost 86.09 points (0.48%) to finish at 17,787.13, the NASDAQ gained 14.55 points (0.29%) to finish at 4,948.05, and the S&P 500 was virtually unchanged at 2,098.86. The Russell 2000 was up 4.34 points (0.38%) at 1,154.79, and the Wilshire 5000 was down 4.67 points (0.02%) at 21,696.80.

On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.7 billion shares traded, with a small lead for advancing issues on both exchanges.

The price of the 10-year Treasury note was up 2/32, decreasing its yield to 1.845%. The price of the 30-year Treasury bond increased 3/32, bringing its yield down to 2.642%.
Sponsored message from MetLife
Pension Risk Transfer Pulse. What is the top catalyst for a Pension Risk Transfer?
Watch the video.Read more >
Compliance
DOL Supports Reformation of Foot Locker Cash Balance Plan
The DOL disagreed with Foot Locker’s argument that each participant must show he or she detrimentally relied on Foot Locker’s misrepresentations in order to obtain equitable relief.Read more >
From the Magazine
Many Self-Taught About Investing
While 38% and 37%, respectively, of Baby Boomers (ages 55 and older) and Generation X (ages 35 through 54) say no one taught them about investing, only 29% of Millennials (ages 18 through 34) claim to have had the same experience.Read more >
Small Talk
In a Hay Group study, researchers analyzed salaries of 145,000 entry-level positions from more than 700 organizations across the United States. Based on this data, the firm issued a sampling of 25 jobs, spanning multiple industries—providing a snapshot of what new college grads can expect as they enter the workforce full time for the first time. In the sampling, those entering engineering roles will make the most ($62,174)—29% more than the average of $48,270 for all of the 25 positions.Read more >

ON THIS DATE: In 1774, the British government ordered the Port of Boston closed. In 1792, Kentucky became the 15th state of the U.S. In 1796, Tennessee became the 16th state of the U.S. In 1861, the first skirmish of the U.S. Civil War took place at the Fairfax Court House, Virginia. In 1869, Thomas Edison received a patent for his electric voting machine. In 1892, the General Electric Company (GE) began operations after the merging of the Edison General Electric and the Thomson-Houston Electric companies. In 1916, the National Defense Act increased the strength of the U.S. National Guard by 450,000 men. In 1938, baseball helmets were worn for the first time. In 1944, siesta was abolished by the government of Mexico. In 1961, radio listeners in New York, California, and Illinois were introduced to FM multiplex stereo broadcasting. A year later the FCC made this a standard. In 1980, Cable News Network (CNN) made its debut as the first all-news station. In 1999, Merrill Lynch chairman David Komansky announced that the firm would soon allow its customers to buy and sell stocks over the Internet. In 2009, General Motors filed for Chapter 11 Bankruptcy. The filing made GM the largest U.S. industrial company to enter bankruptcy protection.

 

WEDNESDAY WISDOM: “Quality is never an accident. It is always the result of intelligent effort.”—John Ruskin, English author and art critic
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

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