 |
|
|
|
| The Washington Post is moving away from both its traditional defined benefit (DB) plan and cash balance plan, and has agreed not to transfer pension liabilities to an insurance company.Read more > | |
| PLANSPONSOR Awards | |
| 2015 PLANSPONSOR Best in Class 401(k) Plans | |
| PLANSPONSOR honored 29 firms with a new Best in Class 401(k) designation.Read more > | |
| Which plan design elements have had the most influence on the MasterCard and Land O’ Lakes Best in Class designees?Read more > | |
| Products, Deals & People | |
| MassMutual launched an employee benefits guidance tool that helps retirement savers make important financial decisions. The new MapMyBenefits tool provides customized recommendations and guidance about health care coverage, insurance protection and retirement savings, according to MassMutual.Read more > | |
| Economic Events | |
| The U.S. Census Bureau announced that April sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $448.3 billion, up 1.6% from the revised March level, but down 3.3% from the April 2014 level. April sales of durable goods were up 1.2% from last month and were up 2.4% from a year ago. Sales of electrical and electronic goods were up 3.2% from last month and sales of motor vehicle and motor vehicle parts and supplies were up 3.2%. Sales of nondurable goods were up 2.0% from March, but were down 8.2% from last April. Sales of farm product raw materials were up 7.4% from last month and sales of petroleum and petroleum products were up 4.9%. | |
| Market Mirror | |
The Dow lost 2.51 points (0.01%) to finish at 17,764.04, the NASDAQ decreased 7.76 points (0.15%) to 5,013.87, and the S&P 500 was up 0.87 points (0.04%) at 2,080.15. The Russell 2000 fell 4.04 points (0.32%) to 1,249.66, and the Wilshire 5000 closed 3.48 points (0.02%) lower at 22,014.60.
On the NYSE, 3.2 billion shares traded, with declining issues outnumbering advancing issues nearly 2 to 1. On the NASDAQ, 2.8 billion shares changed hands, with a 1.6 to 1.1 ratio of decliners to advancers.
The price of the 10-year Treasury note was down 16/32, bringing its yield up to 2.441%. The price of the 30-year Treasury bond was down 1 2/32, increasing its yield to 3.172%. | |
| Compliance | |
| IRS Expands Pre-Approved Plans Program | |
| In Revenue Procedure 2015-36, the Internal Revenue Service (IRS) expands its pre-approved plans program to include defined benefit (DB) plans with cash balance plan features and defined contribution (DC) plans with employee stock ownership plan (ESOP) features. The revenue procedure sets forth additional provisions required by M&P ESOPs and cash balance plans, and modifies prior rules with regard to the eligibility of employees to participate in an ESOP.Read more > | |
| Small Talk | |
| Roughly half (54%) of senior managers reported that workers are asked to contribute to birthdays, anniversaries and baby showers at least annually, according to an OfficeTeam survey.Read more > | |
ON THIS DATE: In 1692, in Salem Village in the Massachusetts Bay Colony, Bridget Bishop, the first colonist to be tried in the Salem witch trials, was hanged after being found guilty of the practice of witchcraft. In 1752, Benjamin Franklin flew a kite during a thunderstorm and collected a charge in a Leyden jar when the kite was struck by lightning, enabling him to demonstrate the electrical nature of lightning. In 1775, John Adams proposed to Congress, meeting in Philadelphia, that the men laying siege to Boston at that time should be considered a Continental Army led by a general. In 1854, the U.S. Naval Academy in Annapolis, Maryland, held its first graduation. In 1902, the “outlook” or “see-through” envelope was patented by Americus F. Callahan. In 1935, in New York City, two recovering alcoholics, one a New York broker and the other an Ohio physician, founded Alcoholics Anonymous (A.A.), a 12-step rehabilitation program. In 1943, Laszlo Biro, a Hungarian journalist, patented the ballpoint pen. In 1944, the youngest pitcher in Major League Baseball (MLB) pitched his first game. Joe Nuxhall was 15 years old (and 10 months and 11 days).
| |
| WEDNESDAY WISDOM: “A day of worry is more exhausting than a week of work.” —John Lubbock, English music conductor and singer | |
| Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more > | |
News from PLANSPONSOR.com
Copyright © Asset International, Inc., 2015. All rights reserved. No reproduction without prior authorization. |
|
|
|
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 |