Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 19th, 2018
Benefits & Administration
PSNC 2018: Helping Participants Maximize Their Savings Opportunities
To make it practical for defined contribution (DC) plan participants to maximize their savings opportunities, they first need to get their financial house in order. Alvin Shaver, director of compensation and benefits at Southeastern Freight Lines Inc., a 2018 PLANSPONSOR Plan Sponsor of the Year finalist, told 2018 PLANSPONSOR National Conference (PSNC) attendees that having an emergency fund is important for participants. He noted that stats show many cannot come up with even $400 to cover an unexpected expense. “If they can’t handle that piece, it affects all other pieces. If they can’t pay bills, they cannot think about saving for retirement,” he said. Sources on the panel also discussed choosing between Roth and pre-tax savings and saving for long-term health care expenses. Read more >
PSNC 2018: Rules, Regulations and Other Factors Affecting DB Funding Strategies
A partner at Ivins, Phillips & Barker discusses why defined benefit plan sponsors should consider accelerating their funding, and suggests creative strategies for how to do so. Read more >
PSNC 2018: The Importance of Educating Investment Committees
Day two of the PLANSPONSOR National Conference featured a session on investment committee education, the basics surrounding it, and the best resources available to plan sponsors. Read more >
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Compliance
DOL Assists Custodians With Cleaning Out Abandoned Plans
Metropolitan Life Insurance Company and Brighthouse Life Insurance Company have agreed to work with the U.S. Department of Labor (DOL) to determine whether more than 2,000 retirement plans in their custody are abandoned. If plans are found to be abandoned, the companies will submit them to the Department’s Abandoned Plan Program (APP). This may result in distributions of up to approximately $116 million to 20,000 participants. When a plan is abandoned, custodians are left holding the assets of the plan, but lack the authority to terminate the plan and to distribute the plan’s benefits to participants. Read more >
Non-ERISA 403(b)s Could Be Affected by SEC Conflict of Interest Proposal
The Wagner Law Group says non-ERISA 403(b) plans may satisfy the definition of “retail customer” in the Securities and Exchange Commission’s (SEC)’s Regulation: Best Interest section of its proposal. Read more >
Sponsored message from MetLife
MetLife’s Roberta Rafaloff Discuss How Responsibility for a Secure Retirement Rests with Employees. Read more >
Market Mirror

Yesterday, the Dow dropped 103.01 points (0.41%) to 24,987.47, the NASDAQ was virtually unchanged at 7,747.03, and the S&P 500 decreased 5.79 points (0.21%) to 2,773.87. The Russell 2000 increased 8.55 points (0.51%) to 1,692.46, and the Wilshire 5000 was down 14.75 points (0.05%) at 29,021.33.

 

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.921%. The price of the 30-year Treasury bond was unchanged, with its yield down to 3.045%.

2018 PLANADVISER National Conference
Retirement plan advisers face many challenges in their business including those such as crafting the right differentiation message, dealing with fee compression and regulatory changes, and helping keep clients engaged with their plan. The PLANADVISER National Conference (PANC) is the premier networking and business strategy event for specialist retirement plan advisers! Annually, the top tier of retirement plan advisers from across the U.S., including the PLANADVISER Top 100 and the PLANSPONSOR Retirement Plan Advisers of the Year, gather in Orlando, Florida, for three days of discussion and debate about the cutting edge of the retirement plan industry, and how to confront the industry’s biggest challenges. Special this year will be the opportunity for advisers to earn their PLANSPONSOR Retirement Professional designation while at the conference! Read more >
Small Talk

ON THIS DATE: In 1586, English colonists sailed away from Roanoke Island, North Carolina, after failing to establish England’s first permanent settlement in America. In 1778, U.S. General George Washington’s troops finally left Valley Forge after a winter of training. In 1862, President Abraham Lincoln outlined his Emancipation Proclamation, which outlawed slavery in U.S. territories. In 1867, in New York, the Belmont Stakes was run for the first time. In 1912, the U.S. government established the 8-hour work day. In 1934, the U.S. National Archives and Records Administration was established. In 1934, Congress established the Federal Communications Commission (FCC). The commission was to regulate radio and, later, TV broadcasting. In 1951, President Harry S. Truman signed the Universal Military Training and Service Act, which extended Selective Service until July 1, 1955, and lowered the draft age to 18. In 1964, the Civil Rights Act of 1964 was approved after surviving an 83-day filibuster in the Senate. In 1978, the comic strip Garfield was in newspapers around the U.S. for the first time.

TRIVIAL PURSUITS: What was the phone number for the original phone in the White House? Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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