Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 22nd, 2018
Benefits & Administration
Retirees Find Creating a Drawdown Strategy Is Complex
Sixty-eight percent of retirees are only taking the required minimum distributions (RMDs) from their retirement accounts, Ameriprise Financial found in a survey of more than 1,000 retirees with at least $100,000 in investable assets. Only 21% feel confident about taking money out of these accounts. The survey also found that the median savings these retirees have is $839,000. However, 25% said they were not sure if their retirement savings will last throughout their lifetime. Read more >
PSNC 2018: Making Sense of Big Data
Retirement plan sponsors have access to a plethora of data that can help them in making plan design and participant education decisions. Read more >
Products, Deals and People
BidMoni Launches FiduciaryShield to Manage RFPs
Under the platform, plan sponsors no longer have to contact each potential provider and request separate proposals. Read more >
ClearPoint Financial Creates ESG Target-Date Portfolio
Seventy percent of employers use target-date funds (TDFs) as the default investment option for their retirement plans, yet ESG versions of these portfolios are virtually nonexistent, according to ClearPoint. Read more >
MOST READ ARTICLES
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Sources Say Invesco Will Buy OppenheimerFunds
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(b)lines Ask the Experts – Annuity General Accounts Versus Separate Accounts
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Over Half of Americans Have Nothing Saved in a Retirement Account
4
2018 HSA Conference
5
An Accurate Perception of Their Finances Eludes Many Americans
Economic Events

In the week ending June 16, the advance figure for seasonally adjusted initial claims for unemployment insurance was 218,000, a decrease of 3,000 from the previous week’s revised level of 221,000, the Labor Department reported. The four-week moving average was 221,000, a decrease of 4,000 from the previous week’s revised average of 225,000.

The average interest rate for a 30-year fixed-rate mortgage is 4.57%, down from 4.62% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 4.04%, down from 4.07%.

Sponsored message from MetLife
MetLife’s Roberta Rafaloff discusses how employees look to their employer to help create retirement income. Read more >
Market Mirror

Thursday, the Dow fell 196.10 points (0.80%) to 24,461.70, the NASDAQ closed 8.56 points (0.88%) lower at 7,712.95, and the S&P 500 was down 17.56 points (0.63%) at 2,749.76. The Russell 2000 decreased 18.04 points (1.06%) to 1,688.95, and the Wilshire 5000 lost 240.72 points (0.83%) to finish at 28,784.18.

The price of the 10-year Treasury note was up 11/32, decreasing its yield to 2.898%. The price of the 30-year Treasury bond increased 17/32, bringing its yield down to 3.046%.

Compliance
Retirement Plan Document Basics
A retirement plan consultant and an ERISA attorney offer tips for setting up, maintaining and following retirement plan documents. Read more >
5th Circuit Officially Mandates Decision to Vacate DOL Fiduciary Rule
Industry stakeholders immediately offered their thoughts on the complex regulatory saga that has surrounded the now-defeated DOL fiduciary rule; depending on their position in the industry and their particular client service philosophy, some providers are hailing this step as a victory, while others are bemoaning it. Read more >
Small Talk

ON THIS DATE: In 1868, Arkansas was re-admitted to the Union. In 1870, Congress created the Department of Justice. In 1874, Dr. Andrew Taylor Still began the first known practice of osteopathy. In 1933, Germany became a one political party country when Hitler banned parties other than the Nazis. In 1944, President Franklin Roosevelt signed the “GI Bill of Rights” to provide broad benefits for veterans. 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, President Richard Nixon signed an extension of the Voting Rights Act of 1965. It required that the voting age in the United States to be 18. In 1974, in Chicago, the Sears Tower Skydeck opened. In 1978, James W. Christy and Robert S. Harrington discovered the only known moon of Pluto. The moon is named Charon. In 1990, Checkpoint Charlie was dismantled in Berlin.

And now it’s time for FRIDAY FILES!

Cat says, “It looks the same, but why do I keep falling through?” Read more >
The wind is truly terrible if you have to watch out for flying porta potties. Read more >
In New York City, a man’s daughter and granddaughter took him out for a happy Father’s Day meal, but in the end it wrenched his gut. When he got the receipt, along with the request to add caramelized onions and mayo to the burger was this, “PLEASE SPIT IN IT TOO.” “I ate my burger already. I felt like I was gonna throw up,” the man told WABC TV. [pic] Read more >

In Putnam County, Florida, a man purchased some crystal meth from his dealer that he thought wasn’t exactly up to speed. So, he contacted the sheriff’s office, saying he wanted the drugs tested because he had a “bad reaction,” according to The Smoking Gun. Investigators said Kelly wanted to “press charges” against the person who sold him the ill.egal drug a week earlier, so the drug unit detectives invited him to come in and have it tested, according to the South Florida Sun Sentinel. When he went to the sheriff’s office and allegedly gave detectives a crystal-like substance wrapped in aluminum foil, it tested positive for metha.mphetamine. The man was arrested and taken to the Putnam County Jail.

 

In Winsted, Minnesota, a young woman got her head stuck in a truck’s oversized tailpipe at a music festival. Firefighters used a power saw to free the woman from her predicament. KARE-TV reports that it’s unknown how she ended up with her head in the tailpipe, but alc.ohol may have been a factor: The McLeod County Sheriff’s Office says she was cited for underage drinking and escorted out.

 

In Paris, France, a baby boy was born in a suburban train run by Paris public transport company RATP. Many citizens welcomed the birth on social media, but others complained about train delays. Nevertheless, the company issued congratulations to the baby’s mother and announced that the baby boy will get free rides in the French capital until he is 25, according to the Associated Press.

 

In Pine Bluff, Arkansas, a man dining at Shannon’s Restaurant handed the waitress a credit card to pay for his bill. According to the Associated Press, a police spokesman said the waitress noted that it was her own credit card that had been stolen, and she called police. Officers found other items on the man—including her Social Security card and driver’s license—that had been in the waitress’ purse when it was stolen from her car at a nearby gas station while she was inside.

 

Have a great weekend!

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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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