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| Products, Deals and People | |
| J.P. Morgan Enhances Retirement Link Offering | |
| Plan sponsors and participants can access a library of interactive tools to help participants prepare for potential challenges such as health care costs in retirement, college savings and withdrawing from Social Security.Read more > | |
| vWise Launches Online Enrollment Solution | |
| The solution includes content designed to drive retirement plan participant engagement and spur specific actions.Read more > | |
| Economic Events | |
| The U.S. Census Bureau of the Department of Commerce announced that construction spending during April was estimated at a seasonally adjusted annual rate of $1,133.9 billion, 1.8% below the revised March estimate of $1,155.1 billion. The April figure is 4.5% above the April 2015 estimate of $1,085.0 billion. During the first four months of this year, construction spending amounted to $334.8 billion, 8.7% above the $307.9 billion for the same period in 2015. | |
| Market Mirror | |
Wednesday, the Dow inched up 2.47 points (0.01%) to 17,789.67, the NASDAQ was up 4.20 points (0.08%) at 4,952.25, and the S&P 500 increased by 1.91 (0.09%) to 2,098.87. The Russell 2000 closed 8.25 points (0.71%) higher at 1,163.04, and the Wilshire 5000 was up 11.22 points (0.05%) at 21,708.02. On the NYSE, 3.1 billion shares changed hands, with advancing issues outnumbering declining issues nearly 2 to 1. On the NASDAQ, 2.7 billion shares traded, with 3 advancers for every 2 decliners. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.843%. The price of the 30-year Treasury bond increased 18/32, bringing its yield down to 2.621%. | |
| Industry Voice | |
| Barry’s Pickings Online: Investment Choice and Fee Litigation | |
| If you give retirement plan participants enough good (that is, efficiently-priced) choices, can you include funds in the fund menu that maybe aren’t efficiently priced?Read more > | |
| From the Magazine | |
| Plan Corrections: Missed RMDs | |
| Plan sponsors often discover that required minimum payments have either not been paid on time or at all. This is especially true when a non-5% owner continues working after reaching age 70½.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1774, the Quartering Act, which required American colonists to allow British soldiers into their houses, was reenacted. In 1835, P.T. Barnum launched his first traveling show. The main attraction was Joice Heth. Heth was reputed to be the 161-year-old nurse of George Washington. In 1886, Grover Cleveland became the second U.S. president to get married while in office. He was the first to have a wedding in the White House. In 1924, all American Indians were granted U.S. citizenship by the U.S. Congress. In 1933, U.S. President Franklin D. Roosevelt accepted the first swimming pool to be built inside the White House. In 1935, George Herman “Babe” Ruth announced that he was retiring from baseball. In 1953, Elizabeth was crowned queen of England at Westminster Abbey. In 1954, U.S. Senator Joseph McCarthy charged that there were communists working in the CIA and atomic weapons plants. In 1966, Surveyor 1, the U.S. space probe, landed on the moon and started sending photographs back to Earth of the Moon’s surface. It was the first soft landing on the Moon. In 1985, the R.J. Reynolds Company proposed a major merger with Nabisco that would create a $4.9 billion conglomerate. In 2003, the U.S. Supreme Court ruled that companies could not be sued under a trademark law for using information in the public domain without giving credit to the originator. The case had originated with 20th Century Fox suing Dastar Corp. over their use of World War II footage. | |
| SURVEY SAYS: It’s time for our annual summer reading list survey. This year, not only would I like you to share what’s on your summer reading list, but how often do you read for recreational purposes and do you have more time for reading in the summer? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
| 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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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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