Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 10th, 2016
Benefits & Administration
Equity Compensation Can Help with Overall Financial Plans
Whether it is to fill in the retirement savings gap or part of an overall financial strategy, equity compensation plans are attractive to employees.Read more >
Products, Deals and People
Jiff, a health benefits platform, has created three new solutions: Jiff Enterprise Navigator, Jiff Total Wellbeing and Jiff Launch Pad. The tools are aimed at lowering health benefit costs for employers and improving the quality of benefits for employees.Read more >
To help preclude 401(k) participants from taking out loans or hardship withdrawals, MassMutual is making Kashable credit services available through the BeneClick! employee benefits exchange.Read more >
MOST READ ARTICLES
1
2021 Target-Date Fund Survey
2
The DOL Has Begun Retirement Plan Cybersecurity Audits
3
Rush of Litigation Against Retirement Plans Expected to Continue
4
2020 Recordkeeping Survey
5
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Small Market 3(38) Solution Unveiled by Ascensus and LPL
The Small Market Solution also features enrollment in LPL’s Worksite Financial Solutions.Read more >
Investment Product and Service Launches
Vanguard modifies advisory arrangement for Explorer Value Fund; FTSE Russell unveils Green Revenues model; Franklin Templeton Investments introduces LibertyShares strategic beta ETFs; and more.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 $434.2 billion, up 1.0% from the revised March level, but down 2.6% from the April 2015 level. April sales of durable goods were up 0.4% from March, but were down 1.4% from a year ago. Sales of motor vehicle and motor vehicle parts and supplies were up 1.6% from March, while sales of electrical and electronic goods were down 2.7%. Sales of nondurable goods were up 1.5% from March, but were down 3.8% from last April. Sales of petroleum and petroleum products were up 9.0% from March.

In the week ending June 4, the advance figure for seasonally adjusted initial claims for unemployment insurance was 264,000, a decrease of 4,000 from the previous week’s revised level of 268,000, the Labor Department reported. The four-week moving average was 269,500, a decrease of 7,500 from the previous week’s revised average of 277,000.

The average interest rate for a 30-year fixed-rate mortgage is 3.60%, down from 3.66% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.87%, down from 2.92%.
Market Mirror

Major U.S. stock indices closed lower Thursday. According to the Associated Press, banks led the declines as long-term interest rates fell, which will make lending money less profitable. The Dow lost 19.86 points (0.11%) to finish at 17,985.19, the NASDAQ closed 16.03 points (0.32%) lower at 4,958.62, and the S&P 500 was down 3.64 points (0.17%) at 2,115.48. The Russell 2000 decreased 7.75 points (0.65%) to 1,181.20, and the Wilshire 5000 fell 64.35 points (0.29%) to 21,920.77.

On the NYSE, 3.1 billion shares changed hands, with 1.6 declining issues for every advancing issue. On the NASDAQ, 2.7 billion shares traded, with a more than 2 to1 lead for decliners.

The price of the 10-year Treasury note was up 5/32, decreasing its yield to 1.684%. The price of the 30-year Treasury bond increased 16/32, bringing its yield down to 2.487%.
Compliance
Constitutionality Question Raised in Church Plan Challenge
Participants in a “church plan” say their employer improperly claimed the protected status, violating both ERISA and potentially the U.S. Constitution.Read more >
Investing
DC Retirement Plan Sponsors Paring Down Investment Options
For the first time, the desire to reduce fees and expenses outranks underperformance as the most common reason for dropping an investment manager from the plan lineup, according to Cogent Reports.Read more >
Small Talk

ON THIS DATE: In 1776, the Continental Congress appointed a committee to write a Declaration of Independence. In 1793, the Jardin des Plantes zoo opened in Paris. It was the first public zoo. In 1854, the U.S. Naval Academy in Annapolis, Maryland, held its first graduation. In 1898, U.S. Marines landed in Cuba during the Spanish-American War. In 1902, the “outlook” or “see-through” envelope was patented by Americus F. Callahan. In 1903, Binney & Smith Company began developing a product line of wax crayons. The product was named Crayola. In 1925, the State of Tennessee adopted a new biology text book that denied the theory of evolution. In 1935, Alcoholics Anonymous was founded by William G. Wilson and Dr. Robert Smith. In 1943, Laszlo Biro, a Hungarian journalist, patented his ballpoint pen. In 1948, Chuck Yeager exceeded the speed of sound in the Bell XS-1. In 1984, the United States and the Vatican established full diplomatic relations for the first time in 117 years.

 

And now it’s time for FRIDAY FILES!
This futuristic bus design aimed at reducing traffic problems and pollution is cool, but I can image problems with it already.Read more >
How to make a natural, effective mosquito repellant.Read more >

In Draguseni, Romania, Vasile Cepoi defeated Vasile Cepoi and Vasile Cepoi in a mayoral election. The victor told The Associated Press: “I added my middle name, and ran as Vasile Lica Cepoi.” He was also the incumbent, who secured his fourth term as mayor of Draguseni. He said the coincidence of three candidates having the same name was an attempt by political parties to confuse residents. The news report says both names are common in Romania; Cepoi means “big onions.” The mayor won 1,200 votes, Vasile Cepoi won 100 votes and Vasile Cepoi trailed with 10. The three are not related.

In Jackson, Florida, a man fed up with his son’s disrespect and bad activities, put his son’s SUV for sale on Craigslist. And, according to CNN, the man agreed to take $250 off the price if the buyer lived in the area just so his son would see the vehicle every now and then to remind him “how good he had it!” The truck sold in two hours.
In La Canada Flintridge, California, some homeowners had an unwelcomed guest in their pool.Read more >

Somewhere in Texas, a family decided to remodel a trailer that had been sitting unoccupied for at least a decade in their backyard. A man walked in the trailer to help clean it out and found a misshapen brown mess—nearly 6 feet long—which seemed to have sprouted up from the couch and out the window. “It looks like a cocoon, it looks unreal, it looks like mold,” one of the family members told the local CBS News station. The boyfriend suspected it was a hive or something, and after a Google search, realized it was a gigantic hornets’ nest. The family has called an exterminator.

In Sydney, Australia, a Virgin Australia airlines flight attendant was caught sleeping on the job—by Virgin owner Richard Branson. Branson took a photo next to the sleeping employee, posted it online then woke the employee up. “To be fair, he was on standby, getting some much needed rest,” Branson said, according to the Daily Mail Australia.

In Brandon, Manitoba, Canada, police were called to a restaurant where a couple ran up a tab of $135 then bolted. However, they left behind one thing—their 10-year-old daughter, according to the Canadian Press. Police caught up with the into.xicated couple and arrested them.

Have a wonderful weekend!
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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