Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 8th, 2018
Benefits & Administration
Americans Place Returns Above Values for Investments
While many prioritize social investments and community welfare when choosing investments, most opt for performance first and a profitable company whose values they disagree with vs. a struggling company whose values they like, Merrill Edge found. When it comes to making financial decisions, 81% of Americans are most likely to turn to a financial adviser over their closest confidants, including wealthiest friends (70%), older generations (69%) and even finance apps (50%), the survey also showed.Read more >
Continuous Financial Education Improves Retirement Outcomes
A research report says “financial education delivered to employees around the age of 40 will optimally enhance savings at retirement close to 10%. By contrast, programs that provide one-time education can generate short-term but few long-term effects.”Read more >
Most Americans Have Not Figured Out How Much is Needed to Retire
Sixty-one percent of Americans are unaware of how much savings they will need to successfully retire, learned in a survey. The median amount among those who have assessed how much they will need is $650,000. Nineteen million Americans say they never plan to retire.Read more >
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
Employees Don’t Want ‘All or Nothing’ When It Comes to Guaranteed Lifetime Income
TRIVIAL PURSUITS: Residents of the Island of Misfit Toys
2021 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Products, Deals and People
Securian Offers Open MEP for Small and Mid-Sized Employers
Securian Financial introduced MEPconnect, its open multiple employer plan (MEP) designed to expand access to employer-sponsored retirement plans in the small to mid-sized business market. The Platinum 401(k) assumes the role of the ERISA 3(16) Plan Administrator, and Fidelis Fiduciary Management serves as the ERISA 3(38) Investment Manager.Read more >
Investment Products and Services Launches
Franklin Templeton expands ETF lineup with three additional funds; ABG and Russell partner on managed account program; and more.Read more >
Economic Events

In the week ending June 2, the advance figure for seasonally adjusted initial claims for unemployment insurance was 222,000, a decrease of 1,000 from the previous week’s revised  of 223,000, the Labor Department reported. The four-week moving average was 225,500, an increase of 2,750 from the previous week’s revised average of 222,750.

The average interest rate for a 30-year fixed-rate mortgage is 4.54%, down from 4.56% on week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 4.01%, down from 4.06%.

Market Mirror

Thursday, the Dow increased 95.02 points (0.38%) to 25,241.41, the NASDAQ closed 54.17 points (0.70%) lower at 7,635.07, and the S&P 500 was down 1.98 points (0.07%) at 2,770.37. The Russell 2000 decreased 8.17 points (0.49%) to 1,667.77, and the Wilshire 5000 decreased 38.32 points (0.13%) to 28,896.84.

The price of the 10-year Treasury note increased 14/32, bringing its yield down to 2.921%. The price of the 30-year Treasury bond climbed 30/32, decreasing its yield to 3.074%.

SEC Seeks Comments on Fund Disclosures and the Fees Charged for Them
The Securities and Exchange Commission (SEC) also adopted a new rule allowing fund companies to share information via the Internet.Read more >
Small Talk

ON THIS DATE: In 1786, in New York City, commercially manufactured ice cream was advertised for the first time. 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 1947, “Lassie Show” debuted on ABC radio. It was a 15-minute show. 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 1982, U.S. President Ronald Reagan became the first American chief executive to address a joint session of the British Parliament. In 1986, the Boston Celtics won their 16th NBA championship. In 1991, a victory parade was held in Washington, D.C., to honor veterans of the Persian Gulf War. In 1998, in the U.S., the FTC brought an antitrust complaint against Intel Corp., alleging its policies punished other developers of microprocessor chips.

And now it’s time for FRIDAY FILES!

Wonder where this little girl learned her fussing skills?Read more >
Someone is caught not paying attention at this little girl’s dance recital.Read more >
He loves his mom, but whether he likes her is conditional.Read more >

After 60 years as IHOP, the International House of Pancakes is changing its name to IHOb. The company announced on Twitter that starting June 11, “IHOP” would now be “IHOb.” It ended the tweet with, “Find out what it could b on 6.11.18.” On social media the firm is holding polls that allow people to guess what the “b” stands for. Responses have included biscuits, bacon, butternut squash and barnacles.

In Vermont, Governor Phil Scott has signed into law a bill that will pay new residents who work remotely for an out-of-state employer up to $10,000 over a period of two years in an effort to attract younger people to the state. “Vermont isn’t just a place to ski and try craft beers, it’s an ideal state for raising a family and growing a business,” Department of Tourism and Marketing commissioner Wendy Knight said, according to the Associated Press. The Remote Worker Grant Program would cover relocation expenses and other costs. It takes effect Jan. 1, 2019. The law defines a qualifying worker as working primarily from a Vermont home office or co-working space and employed full-time by an out-of-state based company. The state would award grants on a first-come, first-served basis and has allocated $500,000 for the next three years to the program.

In Flint, Michigan, authorities say police impersonators have been fooling police, firefighters and the public for three years.  The Flint Journal reports the impersonators are members of a group calling itself the Genesee County Fire and EMS Media-Genesee County Task Force Blight Agency. They were acting as police at parks, house fires, vehicle crashes and crime scenes. Genesee County Prosecutor David Leyton authorized charges against three people. Court records say there are at least five other potential defendants. Leyton says the individuals sometimes were the first to arrive at crime scenes and “real police would ask them to perform tasks.” An investigation started after a complaint about rude Genesee County park rangers who turned out to be impostors.

In Bay County, Florida, Bush’s Baked Beans doesn’t just have a secret recipe, they’re a secret weapon. Law enforcement personnel responded to a grocery store after receiving inaccurate emergency calls from inside the store that an armed man was holding hostages inside and that someone had been shot. They soon realized the weapon the man was waving at store employees was a hammer. According to ABC News, one officer slipped behind the suspect, grabbed two cans of Bush’s Baked Beans and pelted the suspect. This was enough to subdue him until other officers could apprehend him.

In Salina, Kansas, a man left a winning lottery ticket on the counter at a convenience store. Fortunately for him, a store clerk and the store owner are good men. The man bought three tickets and went to his neighborhood convenience store to check if they were winners. The clerk checked two tickets and the winner accidentally left the third on the counter, The Salina Journal reported. When the clerk saw the ticket, he checked and found it was a $1 million-winner. The clerk called the owner who recognized who the man was from the clerk’s description. The owner drove around the man’s neighborhood once but couldn’t find the man’s house. When he decided to give it another try, he saw the man and his brother driving away and was able to stop them to give the man the ticket and tell him he won. KWCH reports that Wichita law firm DeVaughn James Injury Lawyers gave the owner a $1,200 check to reward him for his good deed.

Have a wonderful weekend!

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Editorial: Alison Cooke Mintzer


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