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| PSNC 2019: From Engagement to Action | |
| A self-professed “ERISA nerd” looks beyond the rules and regulations to ask what plan sponsors can do to promote genuine engagement in the participant population.Read more > | |
| PSNC 2019: Criteria to Consider When Selecting a Retirement Plan Adviser | |
| Experts lay out what retirement plan sponsors should ask to find the adviser best suited to their plan.Read more > | |
| Sponsored message from PIMCO | |
| 2019 PIMCO Defined Contribution Consulting Study | |
| Providing retirement income potential, evaluating TDFs and plan costs, and simplifying investment menus are key.Read more > | |
| Products, Deals and People | |
| HANYS Benefit Services to Expand Towards Smaller Market | |
| The firm says plan sponsors in the smaller end of the market are underserved, and believes the expansion will lead to better fiduciary options and resources.Read more > | |
| Retirement Industry People Moves | |
| Rea & Associates adds new plan audit services director; Ascensus acquires TPA firm for FuturePlan platform; and Ameritas adds series of vice president positions.Read more > | |
| Economic Events | |
Total nonfarm payroll employment edged up in May (+75,000), and the unemployment rate remained at 3.6%, according to the Bureau of Labor Statistics. Employment continued to trend up in professional and business services and in health care.
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 $503.1 billion, down 0.4% from the revised March level, but up 2.7% from the April 2018 level, the Census Bureau reported. The February to March percent change was revised from the preliminary estimate of up 2.3% to up 1.8%. THE ECONOMIC WEEK AHEAD: Tomorrow, the Bureau of Labor Statistics will reveal the producer price index for May. Wednesday, it will reveal the consumer price index for May. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about retail salses for May and business trade for April. | |
| Market Mirror | |
Friday, the Dow was up by 263.28 points (1.02%) to close at 25,983.94, the NASDAQ gained 126.55 points (1.66%) for a 7,742.10 close, and the S&P 500 was up by 29.85 points (1.05%) at 2,873.34. The Russell 2000 gained 10.85 points (0.72%) to finish at 1,514.39, and the Wilshire 5000 was up by 295.72 points (1.01%) to reach 29,545.54.
The price of the 10-year Treasury note was up 3/32, lowering its yield to 2.085%, and the price of the 30-year Treasury bond was up 30/32, lowering its yield to 2.575%. WEEK’S WORTH: For the week ending June 7, the Dow climbed 4.71%, the NASDAQ increased 3.88%, and the S&P 500 gained 4.41%. The Russell 2000 was up 3.34%, and the Wilshire 5000 finished 4.15% higher. | |
| Compliance | |
| SEC Expanding Financial Education for Teachers, Military Personnel | |
| The initiatives build on the Securities and Exchange Commission’s (SEC’s) past efforts and focus additional enforcement and investor education on these groups.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 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, Alcoholic Anonymous was founded by William G. Wilson and Dr. Robert Smith. In 1943, the Allies began bombing Germany around the clock. In 1944, the youngest pitcher in major league baseball pitched his first game. Joe Nuxhall was 15 years old (and 10 months and 11 days). In 1984, the U.S. Army successfully tested an antiballistic missile. In 1984, the United States and the Vatican established full diplomatic relations for the first time in 117 years. | |
| 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 > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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