Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 22nd, 2016
Benefits & Administration
Participants Say DC Plans Fall Short in Key Areas
Forty-five percent of participants believe their defined contribution (DC) plans will not help them meet their retirement goals, according to a Prudential Retirement survey. Their plans most often fall short, participants say, in protecting them from financial market volatility, in helping them choose the right investments, and in maximizing their investments’ growth potential. Many participants also give their plans less-than-stellar marks for their ability to help them secure an adequate income source once they retire, understand how much they need to save for a secure retirement, or monitor and understand their progress toward their retirement savings goals.Read more >
Women Need More Savings for a Dignified Retirement
An analysis of 3.5 million participants by Aon Hewitt found 83% of women are not saving enough for retirement, compared to 74% of men. Aon Hewitt projects that women will need 11.5 times their final pay to be able to live a dignified retirement, compared to 10.6 times final pay for men.Read more >
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TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
Empower Calls for More Industry Collaboration on Policy
Empower will be working in conjunction with SPARK to help promote the development of a proactive policy agenda. The effort would include the development of an industry-wide forum in which members could build a set of agreed-upon priorities and use their collective expertise and experience to help legislators and regulators understand the value and benefits behind various proposals.Read more >
Market Mirror

Tuesday, the Dow closed 24.86 points (0.14%) higher at 17,829.73, the NASDAQ increased 6.55 points (0.14%) to 4,843.76, and the S&P 500 was up 5.66 points (0.27%) at 2,088.91. The Russell 2000 was down 3.83 points (0.33%) at 1,153.87, and the Wilshire 5000 gained 93.88 points (0.44%) to finish at 21,616.30.

On the NYSE, 3.1 billion shares changed hands, with 1.3 advancing issues for every declining issue. On the NASDAQ, 2.6 billion shares traded with a 1.4 to 1 ratio of decliners to advancers.

The price of the 10-year Treasury note was down 5/32, increasing its yield to 1.707%. The price of the 30-year Treasury bond decreased 10/32, bringing its yield up to 2.512%.
Compliance
EEOC Provides Sample Notice for Wellness Programs
Under final wellness program rules, employees must receive a notice describing what information will be collected as part of the wellness program, who will receive it, how it will be used, and how it will be kept confidential.Read more >
New Church Plan Lawsuit Presents a Different Angle
While other lawsuits question a retirement plan’s “church plan” status, a new suit contends a church plan elected to be an Employee Retirement Income Security Act (ERISA) plan, but failed to comply with ERISA.Read more >
Small Talk
The average amount of money people spend to go to work each month is $276, or around $3,300 per year, according to a new CareerBuilder survey. The survey broke down the expenses by type and found that it also costs money to get a job.Read more >

ON THIS DATE: In 1611, English explorer Henry Hudson, his son and several other people were set adrift in present-day Hudson Bay by mutineers. In 1868, Arkansas was re-admitted to the Union. In 1870, the U.S. Congress created the Department of Justice. In 1944, U.S. President Franklin Roosevelt signed the “GI Bill of Rights” to provide broad benefits for veterans of the war. In 1945, during World War II, the battle for Okinawa officially ended after 81 days. In 1946, jet airplanes were used to transport mail for the first time. In 1970, U.S. President Richard Nixon signed an extension of the Voting Rights Act of 1965. It required the voting age in the United States to be 18. In 1974, in Chicago, the Sears Tower Skydeck opened.                          

 

WEDNESDAY WISDOM: “No one has a greater asset for his business than a man’s pride in his work.”—Hosea Ballou, American Universalist clergyman and theological writer
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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