| | Industry Voices | | Solutions to Help Employees with Retirement Readiness | | In 2015, MassMutual published its Employee Benefits Security Study, which contained two key findings. The first was great news: Employees think about financial wellness in a good way—it matters to them. But the second was more troubling: Two out of every five employees said they’re uncertain about whether they’re on track to retire comfortably, and that personal financial issues have distracted them at work. As part of the continuing convergence of benefits and the alignment between employers and employees, MassMutual saw in the research a spark of an idea, one that became two exciting new solutions from MassMutual, according to Tina Wilson, senior vice president, investment solutions innovation, at Massachusetts Mutual Life Insurance Co.Read more > | | | Market Mirror | Yesterday, the Dow lost 132.86 points (0.74%) to finish at 17,732.48, the NASDAQ closed 46.11 points (0.94%) lower at 4848.44, and the S&P 500 decreased 17.01 points (0.81%) to 2,079.06. The Russell 2000 was down 13.24 points (1.14%) at 1,150.69, and the Wilshire 5000 fell 181.61 points (0.84%) to 21,507.18.
On the NYSE, 3.1 billion shares changed hands, with declining issues outnumbering advancing issues more than 3 to 1. On the NASDAQ, 2.7 billion shares traded with a near 3 to 1 lead for decliners.
The price of the 10-year Treasury note was up 9/32, decreasing its yield to 1.611%. The price of the 30-year Treasury bond increased 18/32, bringing its yield down to 2.428%. | | | Compliance | | President of Public Fund Arrested for Bribery | | The president allegedly received kickbacks for investing the Correction Officers’ Benevolent Association’s Annuity Fund assets in a hedge fund.Read more > | | | Investing | | DC Plan Investment Landscape Is Changed | | Vanguard’s 2016 How America Saves report shows the number of defined contribution (DC) plan participants with professionally managed allocations—those who have their entire account balance invested in a single target-date or balanced fund or in a managed account advisory service—has grown. In addition, the study shows an increased interest among plan sponsors in offering a wider range of low-cost passive or index funds. The industry has made much more headway on improving participant portfolio construction, says Jean Young, senior research analyst at the Vanguard Center for Retirement Research.Read more > | | | Small Talk | | ON THIS DATE: In 1775, the Continental Army was founded by the Second Continental Congress for purposes of common defense. In 1777, the Continental Congress in Philadelphia adopted the “Stars and Stripes” as the national flag of the United States. In 1834, Isaac Fischer Jr. patented sandpaper. In 1846, a group of U.S. settlers in Sonoma proclaimed the Republic of California. In 1900, Hawaii became a U.S. territory. In 1922, Warren G. Harding became the first U.S. president to be heard on radio. The event was the dedication of the Francis Scott Key memorial at Fort McHenry. In 1943, the U.S. Supreme Court ruled that school children could not be made to salute the U.S. flag if doing so conflicted with their religious beliefs. In 1951, “Univac I” was unveiled. It was a computer designed for the U.S. Census Bureau and billed as the world’s first commercial computer. In 1952, the first nuclear powered submarine Nautilus was dedicated. In 1954, U.S. President Dwight D. Eisenhower signed an order adding the words “under God” to the Pledge of Allegiance. In 1989, former U.S. President Reagan received an honorary knighthood from Britain’s Queen Elizabeth II. In 2002, actor Kirk Douglas received the UCLA Medal. The award is presented to people for cultural, political and humanitarian achievements. | | TRIVIAL PURSUITS: What are you hearing when you place a seashell next to your ear?Read more > | | Thanks to everyone for reading NewsDash. For those of you attending our National Conference this week, please take a minute to say hello. | | 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 > |
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