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| Ask the Experts | |
| Ask the Experts – What Is a 1035 Exchange? | |
| “I received a form from a participant in our 403(b) plan requesting a “1035 exchange”. What in the world is a 1035 exchange?”Read more > | |
| Sponsored message from Morningstar | |
| Download Whitepaper: How Can You Help Your Employees Retire? You’ve seen the headlines. Retirement is in trouble. The move from DB to DC has shifted the burden of retirement planning on to employees-a task that few are equipped to take on. How can employers help?Read more > | |
| Products, Deals & People | |
| Transamerica Retirement Solutions and Merrill Lynch have combined forces to create a new work place retirement plan program for not-for-profit organizations. Through the program, 403(b) plan sponsors and their employees will have access to increased Transamerica plan administration services, along with mutual funds offered through Merrill Lynch’s investment platform.Read more > | |
| Economic Events | |
| New orders for manufactured goods in April, down eight of the last nine months, decreased $1.8 billion or 0.4% to $476.7 billion, the U.S. Census Bureau reported. This followed a 2.2% March increase. Shipments, following two consecutive monthly increases, were virtually unchanged at $482.4 billion. This followed a 0.5% March increase. Unfilled orders, down four of the last five months, decreased $1.1 billion or 0.1% to $1,202.4 billion. This followed a 0.1% March increase. Inventories, up two of the last three months, increased $0.6 billion or 0.1% to $649.0 billion. This followed a 0.1% March decrease. | |
| Market Mirror | |
Tuesday, the Dow lost 28.43 points (0.16%) to finish at 18,011.94, the NASDAQ closed 6.40 points (0.13%) lower at 5,076.52, and the S&P 500 was down 2.13 points (0.10%) at 2,109.60. The Russell 2000 was up 2.18 points (0.17%) at 1,251.80, and the Wilshire 5000 slipped 7.62 points (0.03%) to 22,292.72. On the NYSE, 3.2 billion shares changed hands, with 1.2 advancing issues for every declining issue. On the NASDAQ, 2.8 billion shares traded, with a 1.4 to 1 ratio of advancers to decliners. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.263%. The price of the 30-year Treasury bond slipped 2/32, increasing its yield to 3.019%. | |
| Compliance | |
| PSNC 2015: The Regulatory Environment | |
| Forty-four percent of attendees at the PLANSPONSOR National Conference in Chicago said they are somewhat challenged to keep their retirement plans compliant in a shifting regulatory landscape, and it is getting more difficult. Indeed, rulemakers, lawmakers and the courts have been very busy in the past year or so. Marcia Wagner, the president and founder of Wagner Law Group, noted there is great change on the regulatory front, with a new proposal regarding the definition of fiduciary under the Employee Retirement Income Security Act (ERISA), rules for using qualified longevity annuities in retirement plans and rules for using annuities in target-date fund (TDF) offerings. “Lifetime income is the direction the Department of Labor (DOL) and Internal Revenue Service (IRS) are moving in,” she told conference attendees.Read more > | |
| Small Talk | |
ON THIS DATE: In 1539, Hernando De Soto claimed Florida for Spain. In 1621, the Dutch West India Company received a charter for New Netherlands (now known as New York). In 1800, President John Adams became the first acting president to take up residence in Washington, D.C. However, the White House, or President’s Mansion or President’s House as it was called then, was not yet finished, so Adams moved into temporary digs at Tunnicliffe’s City Hotel near the also half-finished Capitol building. In 1916, United States President Woodrow Wilson signed into law the National Defense Act, which expanded the size and scope of the National Guard and guaranteed its status as the nation’s permanent reserve force. In 1959, the first class graduated from the Air Force Academy in Colorado Springs. In 1965, Edward White became the first American astronaut to do a “space walk” when he left the Gemini 4 capsule.
WEDNESDAY WISDOM: “A nickel ain’t worth a dime anymore.”—Yogi Berra, former Major League Baseball catcher | |
| Share the good news with a friend! Pass the Dash 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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