Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 14th, 2019
Benefits & Administration
Vanguard Finds Positive Savings Behaviors by DC Plan Participants
Despite market volatility, few participants in defined contribution (DC) plans served by Vanguard made one or more portfolio trades during the year, and 96% of all assets available for distribution due to a separation of service were preserved in a retirement savings account.Read more >
PSNC 2019: Is It Time for an RFI/RFP?
It’s important for plan sponsors to stay vigilant and be sure they are holding providers accountable.Read more >
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
Employees Don’t Want ‘All or Nothing’ When It Comes to Guaranteed Lifetime Income
TRIVIAL PURSUITS: Residents of the Island of Misfit Toys
2021 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Products, Deals and People
BrightPlan Enhances Financial Wellness Platform
For employers, BrightPlan provides an assessment of the state of financial wellness across their employee base and identifies ongoing opportunities to help employees increase their financial acumen.Read more >
Vitality Partners With SmartDollar to Offer Employer Financial Wellness Platform
Vitality clients will purchase SmartDollar and roll it out to their employees as a free financial wellness benefit.Read more >
Investment Product and Service Launches
LGIMA builds ESG strategy for DC plans; Russell Investments announces tax-managed fund for long-term investors; and FTSE Russell introduces preliminary report of indexes’ reconstitutions.Read more >
Sponsored message from Capital Group
Keys to our target date success - Capital Group & American Funds
The types of equities in target date funds can have a significant impact on outcomes. Learn more about our approach to equities in American Funds Target Date Retirement Series.Read more >
Economic Events
In the week ending June 8, the advance figure for seasonally adjusted initial claims for unemployment insurance was 222,000, an increase of 3,000 from the previous week’s revised level of 219,000, the Labor Department reported. The four-week moving average was 217,750, an increase of 2,500 from the previous week’s revised average of 215,250. The average interest rate for a 30-year fixed-rate mortgage is 3.82%, unchanged from one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.26%, down from 3.28%.
Market Mirror
Thursday, the Dow gained 101.94 points (0.39%) to finish at 26,106.77, the NASDAQ closed 44.41 points (0.57%) higher at 7,837.13, and the S&P 500 was up 11.80 points (0.41%) at 2,891.64. The Russell 2000 increased 16.01 points (1.05%) to 1,535.80, and the Wilshire 5000 climbed 141.53 points (0.48%) to 29,763.61. The price of the 10-year Treasury note was up 2/32, decreasing its yield to 2.093%. The price of the 30-year Treasury bond increased 4/32, bringing its yield down to 2.600%.
Pennsylvania Law Requires Multiple Providers for School District 403(b)s
Some players in the K-12 403(b) plan marketplace say the multiple-provider model leaves plan sponsors with an unworkable number of providers and costs to participants are higher, while others say elements of this model work best for employees.Read more >
Supreme Court Takes on Intel Case About ‘Actual Knowledge’
The investment committee for two Intel Corporation retirement plans asked the court to determine whether the provision of plan documents, in itself, creates for participants “actual knowledge” of an alleged fiduciary breach under the Employee Retirement Income Security Act (ERISA).Read more >
Small Talk

ON THIS DATE: 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 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 schoolchildren 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 1954, President Dwight D. Eisenhower signed an order adding the words “under God” to the Pledge of Allegiance. In 1989, former President Ronald Reagan received an honorary knighthood from Britain’s Queen Elizabeth II.


And now it’s time for FRIDAY FILES!

New uses for Ramen noodles. Gnocchi, really?Read more >
Floaties may make it easier to swim—but not to do much else.Read more >
In Moorpark, California, a truck driver has been arrested after authorities spotted a phony license plate on his rig. How could they tell? See for yourself. [pic]Read more >

In Slidell, Louisiana, a Taco Bell ran out of hard and soft taco shells. One customer was so irate, the customer called police to report it. According to the Huffington Post, in a Facebook post, the Slidell Police Department agreed that the lack of taco shells was “truly a travesty,” but said the offense wasn’t under its jurisdiction.

In Pasadena, Texas, a woman ordered a cake for her daughter’s graduation from her local Walmart. However, when she went to the store to pick up the cake, she found the bakery had lost the order and didn’t have anything ready. A store manager told the mother to choose any cake from the ones that were ready to go. The bakers then added a cap-and-gown photo of her daughter on the cake and the mother brought it to the graduation party. Then, when it came time to cut the cake, she realized it was made of Styrofoam. The Huffington Post reports that a Walmart manager offered the mother a $60 gift card, a free additional cake and another gift card, but her sister said in a Facebook post that the offer “can’t make up for the embarrassment and humiliation she went through with family and school friends there.”

Wishing everyone a safe and happy weekend!

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 >

Editorial: Alison Cooke Mintzer


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