Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 26th, 2019
Benefits & Administration
Participants Lack Knowledge About Retirement Plan Rollovers
A survey by Financial Engines found that few Americans are knowledgeable about the ins and outs of rollovers from 401(k) plans. Forty-two percent of those between the ages of 35 and 65 who left a job where they had money in a 401(k) plan were unaware that they could leave their money in the plan.Read more >
Industry Voices
State and Local Governments Eye ESG Investing Strategies for Returns and Impact
US SIF’s Lisa Woll provides examples of strategies public pension funds are using to incorporate environmental, social and governance (ESG) investing with retirement funds and other assets.Read more >
MOST READ ARTICLES
1
IRS Announces 2020 Contribution and Benefit Limits
2
IRS Proposes Update to Mortality Tables Used to Calculate RMDs
3
Employees Are Making Each Other Sick
4
Maximum Benefit and Contribution Limits Table 2020
5
Congressional Leaders Want SECURE Act Passage in 2019
Products, Deals and People
DB Plan Longevity Risk Estimator Expands to U.S.
A company executive says Club Vita’s analysis will lead to material savings and less risk for defined benefit (DB) plan sponsors.Read more >
Sponsored message from Capital Group
Your employees go above and beyond.
Learn how you can give them the 401(k) they deserve with the target date series from Capital Group, home of American Funds®. See how. Read more >
Economic Events

Sales of new single‐family houses in May were at a seasonally adjusted annual rate of 626,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.8% below the revised April rate of 679,000 and is 3.7% below the May 2018 estimate of 650,000.

The Conference Board Consumer Confidence Index declined in June, following an increase in May. The Index now stands at 121.5 (1985=100), down from 131.3 in May. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—decreased from 170.7 to 162.6. The Expectations Index—based on consumers’ short-term outlook for income, business and labor market conditions—decreased from 105.0 last month to 94.1 this month.

Market Mirror

Tuesday, the Dow lost 179.32 points (0.67%) to finish at 26,548.22, the NASDAQ closed 120.98 points (1.51%) lower at 7,884.72, and the S&P 500 decreased 27.97 points (0.95%) to 2,917.38. The Russell 2000 was down 9.05 points (0.59%) at 1,521.04, and the Wilshire 5000 fell 289.11 points (0.96%) to 29,927.17.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.994%. The price of the 30-year Treasury bond increased 25/32, bringing its yield down to 2.530%.

Compliance
Democratic Leaders Call for GAO Review of Fiduciary Landscape
According to Democratic leaders in Congress, the Department of Labor appears to be doing little, if anything, to inform consumers about conflicts of interest in the advisory and brokerage industries.Read more >
Ask the Experts
Is a 1099-R Issued for 403(b) Plan-to-Plan Transfers?
“In transferring from one 403(b) plan to another 403(b) plan, is a 1099-R issued to the individual?”Read more >
Small Talk
Watching TV is the leisure activity Americans spend the most time doing, according to the 2018 American Time Use Survey from the Bureau of Labor Statistics. Americans spent 2.8 hours per day watching TV, accounting for just over half of all leisure time, on average. On an average day, nearly everyone age 15 and older (96%) engaged in some sort of leisure activity, such as watching TV, socializing, or exercising. On average, adults age 75 and older spent 7.8 hours engaged in leisure activities per day—more than any other age group.Read more >

ON THIS DATE: In 1819, the bicycle was patented by W.K. Clarkson, Jr. In 1900, a commission that included Dr. Walter Reed began the fight against the deadly disease yellow fever. In 1945, the U.N. Charter was signed by 50 nations in San Francisco. In 1948, the Berlin Airlift began as the U.S., Britain and France started ferrying supplies to the isolated western sector of Berlin. In 1974, in Troy, Ohio, a Marsh supermarket installed the first bar code scanning equipment, made by IBM. In 1979, Muhammad Ali, at 37 years old, announced that he was retiring as world heavyweight boxing champion. In 1996, the U.S. Supreme Court ordered the Virginia Military Institute to admit women or forgo state support. In 2000, the Human Genome Project and Celera Genomics Corp. jointly announced that they had created a working draft of the human genome. In 2002, WorldCom Inc. filed for Chapter 11 bankruptcy protection.

WEDNESDAY WISDOM: “Try to be like the turtle – at ease in your own shell.”—Bill Copeland, American poet and writer

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 alison.mintzer@strategic-i.com

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