Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 8th, 2016
Webcast Event
Join the editors of PLANSPONSOR and PLANADVISER as we convene a panel of defined contribution (DC) industry veterans: a representative of a large plan sponsor, one of the nation’s top benefits attorneys and a leading asset manager. They will discuss the shift in thought about active vs. passive menu options.Read more >
Benefits & Administration
More Employees Saving for Retirement Since PPA Passage
In large part due to automatic retirement plan design features, aggregate participation rates are higher than ever and continue to rise, according to Vanguard’s 15th anniversary edition of its How America Saves report. However, the rise of automatic enrollment has had an inverse effect on deferral rates, according to the latest How America Saves report from Vanguard.Read more >
More TDF Underperformance Lawsuits Emerge Across US
Data and Research
Plan Sponsors and Participants Cite Different ‘Important’ Benefits
Managed Account Fees Challenged in Latest ERISA Lawsuit
SSGA Calls for Nationwide, Cohesive Retirement Savings Strategy
State Street Global Advisors (SSGA) has issued a white paper and an open letter to Congress calling for mandatory defined contribution (DC) plans among all private-sector businesses. In the paper, “Moving the Coverage Needle: Towards a national framework to address retirement access and coverage,” SSGA applauds efforts by the president, Congress and the states to offer retirement plans—but says that the resulting “disparate patchwork of proposed solutions fails to truly address the issue at hand.”Read more >
Products, Deals and People
Upgrades Unveiled by Schwab Stock Plan Services
The increasing globalization and technological advancement of the financial services industry is necessitating advances in mobile, security and support, says Schwab Stock Plan Services. To meet new challenges, the firm is has unveiled a series of initiatives to help employees who receive equity compensation digitally monitor and manage their benefits, starting with an enhanced mobile application for use across Apple, Android and Amazon products.Read more >
Market Mirror

Tuesday, the Dow was up 17.95 points (0.10%) at 17,938.28, the NASDAQ was down 6.96 points (0.14%) at 4,961.75, and the S&P 500 was up 2.72 points (0.13%) at 2,112.13. The Russell 2000 increased 3.10 points (0.26%) to 1,179.97, and the Wilshire 5000 closed 34.86 points (0.16%) higher at 21,900.74.

On the NYSE, 3.1 billion shares changed hands, with 1.9 advancing issues for every declining issue. On the NASDAQ, 2.7 billion shares traded, with a slight lead for decliners.

The price of the 10-year Treasury note was up 8/32, decreasing its yield to 1.712%. The price of the 30-year Treasury bond increased 13/32, bringing its yield down to 2.540%.
Investors Get $194 Million to Remedy Proxy Voting Error
T. Rowe Price Group announced that it will pay up to $194 million to compensate certain clients for a proxy voting error the firm made in connection with the 2013 leveraged buyout of Dell, Inc. The issue stems from a procedural error impacting T. Rowe Price mutual funds, trusts, separately managed accounts, and sub-advised clients holding, in aggregate, approximately 31 million impacted shares.Read more >
Ask the Experts
Can Plan Sponsors Reduce Fiduciary Liability?
“I am a fiduciary for our ERISA retirement plan. Can I reduce my fiduciary liability or even eliminate it entirely?”Read more >
Small Talk
Dressing up for work continues to go out of style, new research from staffing firm OfficeTeam shows. Half of senior managers interviewed said employees wear less formal clothing than they did five years ago. In addition, the survey found nearly one-third (31%) of office workers stated they would prefer to be at a company with a business casual dress code; 27% favor a casual dress code or no dress code at all. Senior managers were also asked, “Which of the following is the most common dress code violation at your company?”Read more >

ON THIS DATE: In 1861, Tennessee voted to secede from the Union and joined the Confederacy. In 1869, Ives W. McGaffey received a U.S. patent for the suction vacuum cleaner. In 1872, the penny postcard was authorized by the U.S. Congress. In 1953, the U.S. Supreme Court outlawed segregated restaurants in Washington, D.C. In 1969, the New York Yankees retired Mickey Mantle’s number (7). In 1991, a victory parade was held in Washington, D.C., to honor veterans of the Persian Gulf War. In 1998, the National Rifle Association elected Charlton Heston to be its president.


WEDNESDAY WISDOM: “Ants are good citizens, they place group interests first.”—Clarence Day, American author and cartoonist
Share the good 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


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