Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 1st, 2018
Benefits & Administration
Women Have Concerns About Retirement Outlook
The majority of women have a poor outlook on retirement, the Nationwide Retirement Institute found in a survey. A mere 25% expect life will be better in retirement. Their primary concerns are the continuation of Social Security and rising health care costs. Read more >
Social Security Sophistication Can Boost Employees’ Retirement Outlook
A lack of sophisticated advice and support solutions for optimizing Social Security claiming decisions is holding employees back from achieving greater retirement security, warns Bill Meyer of Social Security Solutions, in Leawood, Kansas. Read more >
Products, Deals and People
Arnerich Massena Publishes Latest in Retirement Plan Best Practices Series
The fourth in a five-part series, investment firm Arnerich Massena has published its white paper, “Retirement Plan Best Practices: Plan Monitoring.” The plan monitoring report offers best practices for reviewing performance and other data of investment menu managers; managing plan providers and best practices for conducting a request for proposals (RFP) and negotiation process; benchmarking plan providers; and assessing, monitoring, and benchmarking plan fees. Read more >
MOST READ ARTICLES
1
AT&T Sued Over Calculation of Early Retirement Benefits
2
Congressional Leaders Want SECURE Act Passage in 2019
3
New Lawsuit Highlights Importance of Cybersecurity for Retirement Plans
4
IRS Releases 2019-2020 Priority Guidance Plan
5
DC Plans 3.0 Will Really be Tailored to Individual Situations
DataPath Adds HSA and Investment Functionality to Administration Platform
Health savings account (HSA)/high-deductible health plan enrollment is increasing. To help third-party administrators (TPAs) compete in the HSA market, DataPath is expanding Summit, its cloud-based consumer-driven health (CDH) and COBRA administration platform, to include HSA and investment functionality. Read more >
Economic Events

The Conference Board Consumer Confidence Index increased in February, following a modest increase in January. The Index now stands at 130.8 (1985=100), up from 124.3 in January. The Present Situation Index increased from 154.7 to 162.4, while the Expectations Index improved from 104.0 last month to 109.7 this month.

Market Mirror

Wednesday, the Dow fell 380.83 points (1.50%) to 25,029.20, the NASDAQ closed 57.35 points (0.78%) lower at 7,273.01, and the S&P 500 decreased 30.45 points (1.11%) to 2,713.83. The Russell 2000 was down 24.03 points (1.56%) at 1,512.45, and the Wilshire 5000 lost 222.83 points (0.79%) to finish at 28,117.02.

 

The price of the 10-year Treasury note was up 9/32, decreasing its yield to 2.865%. The price of the 30-year Treasury bond increased 19/32, bringing its yield down to 3.129%.

Compliance
Georgetown University Latest Collegiate Target of ERISA Litigation
A new Employee Retirement Income Security Act (ERISA) fiduciary breach lawsuit filed in the U.S. District Court for the District of Columbia names as defendants Georgetown University and several officials tasked with overseeing the university’s defined contribution (DC) retirement plans. Matching almost verbatim the charges filed previously against many large universities’ 403(b) retirement plans, plaintiffs here suggest that instead of leveraging the Georgetown plans’ substantial bargaining power to benefit participants and beneficiaries, defendants failed to adequately evaluate and monitor the plans’ expenses and caused the plans to pay unreasonable and excessive fees for investment and administrative services. Read more >
W. Va. Bill Would Criminalize Failure to Make Public Pension System Contributions
Under the proposed legislation, any employer or public official who willfully fails to make contributions to public pension plans can face a sentence as low as a $100 fine or as high as 10 years in prison. Read more >
Small Talk

ON THIS DATE: In 1692, in Salem Village, in the Massachusetts Bay Colony, the Salem witch trials began. Four women were the first to be charged. In 1781, in America, the Continental Congress adopted the Articles of Confederation. In 1790, the U.S. Congress authorized the first U.S. census. In 1803, Ohio became the 17th U.S. state. In 1845, U.S. President John Tyler signed the congressional resolution to annex the Republic of Texas. In 1867, Nebraska became the 37th U.S. state. In 1869, postage stamps with scenes were issued for the first time. In 1872, the U.S. Congress authorized the creation of Yellowstone National Park. It was the world’s first national park. In 1873, E. Remington and Sons of Ilion, New York, began manufacturing the first practical typewriter. In 1912, Captain Albert Berry made the first parachute jump from a moving airplane. In 1932, the 22-month-old son of Charles and Anne Lindbergh was kidnapped. In 1937, U.S. Steel raised workers’ wages to $5 a day. In 1937, in Connecticut, the first permanent automobile license plates were issued. In 1941, FM Radio began in Nashville, Tennessee, when station W47NV began operations. In 1947, the International Monetary Fund began operations. In 1949, Joe Louis announced that he was retiring from boxing as world heavyweight boxing champion. In 1954, the United States announced that it had conducted a hydrogen bomb test on the Bikini Atoll in the Pacific Ocean. In 1954, five U.S. congressmen were wounded when four Puerto Rican nationalists opened fire from the gallery of the U.S. House of Representatives. In 1961, the Peace Corps was established by U.S. President Kennedy. In 1969, Mickey Mantle announced his retirement from major league baseball. In 1974, seven people were indicted in connection with the Watergate break-in. The charge was conspiring to obstruct justice. In 1995, Yahoo! was incorporated. In 1999, Bertrand Piccard and Brian Jones began their attempt to circumnavigate the Earth in a hot air balloon non-stop. They succeeded on March 20, 1999. In 2003, in the U.S., approximately 180,000 personnel from 22 different organizations around the government became part of the Department of Homeland Security. This completed the largest government reorganization since the beginning of the Cold War.

SURVEY SAYS: Many people share every detail of their lives on Facebook. This week, I’d like to know, how comfortable would you feel if a workplace contact “friended” you on Facebook? 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

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