Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 28th, 2018
Benefits & Administration
PSNC 2018: Benchmarking Retirement Readiness
Reviewing a participant’s financial health involves more than just deploying the latest retirement readiness tools. Read more >
Gig Worker Financial Woes Could Affect Retirement Ability
Gig workers, be they Millennials, Gen Xers or Baby Boomers, are all facing financial challenges, which could adversely impact their retirement down the road, according to a new research paper from Prudential Financial. But, Gen X gig workers are especially struggling. “Gen X gig workers seem to face the most financial wellness challenges, but do not have as much time to shift their career paths and improve their financial lives,” says Jamie Kalamarides, president of Prudential Group Insurance. “These findings are a call to action for advisers, employers and policymakers, who have the ability to help gig workers set up retirement savings plans, acquire adequate insurance coverage and develop budgets.” Read more >
Many Americans Prioritize ‘Wants’ Over Saving
Four in ten Americans (40%) admit that they have tapped into their savings to pay for something that they really want, but didn’t absolutely need. Read more >
Only 20% of Workers Believe They Are Saving Adequately for Retirement
Seventy-six percent of workers last year expressed concerns that Social Security may not be in existence when they retire, the Transamerica Center for Retirement Studies found in a survey. The survey also found that only 20% strongly agree that they are building a large enough retirement nest egg. Read more >
MOST READ ARTICLES
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Retirement Industry People Moves
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HSA Amendment Bills Moved to U.S. House
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2017 Recordkeeping Survey
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Proposed Bill Would Allow Employers to Provide Side-Car Emergency Savings Accounts
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Missing Inaction
PLANSPONSOR Research
2018 Plan Administration Guide, Part One
The PLANSPONSOR Plan Administration Guide, Part 1, offers insight into the provider marketplace for defined benefit (DB) plan, stock plan and health savings account (HSA) administration. Read more >
Products, Deals and People
Principal Offers Retirement Plan Solutions for Small and Mid-Sized Employers
Principal Financial Group has introduced two new products for small and mid-sized businesses and tax-exempt organizations to make it easier for them to offer retirement plans. Principal Flex and Principal Flex-Open can help sponsors and the advisers serving them easily arrive at a baseline cost for the plan, select investment options, select how expenses will be covered, evaluate plans and select the compensation for the financial professionals serving the plan. Read more >
Firms Offer Enhanced Stop-Loss Product for Employers That Self-Insure Health Benefits
In addition to seamless claims reimbursement, the new offering gives mutual clients convenient reporting, improved clinical and risk management, and the opportunity to share favorable results via a pooled experience. Read more >
Sponsored message from Millennium Trust
Automatic Rollovers: From Footnote to Fiduciary Best Practice
Learn how automatic rollovers have evolved, and how they will impact retirement plans in the future. Read more >
Economic Events

New orders for manufactured durable goods in May decreased $1.4 billion or 0.6% to $248.8 billion, the U.S. Census Bureau announced. This decrease, down two consecutive months, followed a 1.0% April decrease. Excluding transportation, new orders decreased 0.3%. Excluding defense, new orders decreased 1.5%. Transportation equipment, also down two consecutive months, led the decrease, down $0.9 billion or 1.0% to $86.1 billion.

Market Mirror

Wednesday, the Dow was down 165.52 points (0.68%) at 24,117.59, the NASDAQ lost 116.54 points (1.54%) to finish at 7,445.09, and the S&P 500 closed 23.43 points (0.86%) lower at 2,699.63. The Russell 2000 fell 28.07 points (1.68%) to 1,640.45, and the Wilshire 5000 decreased 281.23 points (0.99%) to 28,212.98.

 

The price of the 10-year Treasury note increased 17/32, bringing its yield down to 2.822%. The price of the 30-year Treasury bond climbed 1 7/32, decreasing its yield to 2.965%.

Compliance
Fifty Years After ADEA, Age Discrimination Still Significant
A report by the EEOC Acting Chair says age discrimination can thwart employees’ plans to work longer and could affect retirement plan drawdown strategies. Read more >
Small Talk

ON THIS DATE: In 1776, American Colonists repulsed a British sea attack on Charleston, South Carolina. In 1869, R. W. Wood was appointed as the first Surgeon General of the U.S. Navy. In 1894, Congress made Labor Day a U.S. national holiday. In 1902, Congress passed the Spooner bill, authorizing a canal to be built across the isthmus of Panama. In 1914, Archduke Franz Ferdinand of Austria, the heir to the Austro-Hungarian throne, was assassinated in Sarajevo along with his wife, Duchess Sophie, sparking the start of World War I. In 1919, the Treaty of Versailles was signed ending World War I exactly five years after it began. The treaty also established the League of Nations. In 1938, Congress created the Federal Housing Administration (FHA) to insure construction loans. In 1951, “Amos ’n’ Andy” moved to CBS-TV from radio. In 1971, the U.S. Supreme Court overturned the draft evasion conviction of Muhammad Ali. In 1972, President Nixon announced that no new draftees would be sent to Vietnam. In 1976, the first women entered the U.S. Air Force Academy. In 1996, The Citadel voted to admit women, ending a 153-year-old men-only policy at the South Carolina military school. In 1996, Charles M. Schulz got a star on the Hollywood Walk of Fame. In 1997, Mike Tyson was disqualified for biting Evander Holyfield’s ear after three rounds of their WBA heavyweight title fight in Las Vegas. In 2005, the final design for the “Freedom Tower” (One World Trade Center) was formally unveiled. In 2007, the American bald eagle was removed from the endangered species list.

SURVEY SAYS: Obviously, I type a lot, given my job. And, I’ve noticed that some letters are either entirely or partially rubbed off—leading me to think these are the letters I most use. This week, I thought it would be interesting to see what letters are most likely to be rubbed off on PC or laptop keyboards. Do you have some letters on your keyboard that are entirely or partially rubbed off, and if so, which ones? You may respond to this week’s survey by 6 p.m. Pacific time today. 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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