Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 11th, 2016
PSOY Finalists Profiles
Get to know our Plan Sponsor of the Year finalists in the 403(b) category.Read more >
Finalists in the Public DC category share their stories.Read more >
Read about the retirement offerings of finalists in the Total Retirement Offering category.Read more >
Benefits & Administration
Retirement Plan Participants Stressed, but Stoic
The updated Wells Fargo/Gallup Investor and Retirement Optimism Index pins investor confidence at the lowest level in nearly two years. The primary factor responsible for the decline is reduced optimism in the stock market and, increasingly, worries about long-term return potential in the U.S. and global economies. But the Index found 401(k) sentiment is still positive.Read more >
MOST READ ARTICLES
1
New Financial Audit Rule Increases Requirements for Plan Sponsors
2
2021 Recordkeeping Survey
3
2021 Plan Sponsor of the Year
4
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
5
DOL Proposes New Rule on ESG Investing in Retirement Plans
Multiemployer Plans Struggle with Growing Funding Deficits
There was an aggregate increase in employer contributions across the multiemployer pension plan (MEPP) system of 31% from 2009-2013, according to research by the Society of Actuaries (SOA). However, the unfunded liabilities of MEPPs continued to increase. The SOA lists several factors for why this is so.Read more >
Public Plan Retiree Health Care Liabilities Underfunded Too
Not only are state and local governments struggling with unfunded pension liabilities but other liabilities as well.Read more >
Products, Deals and People
BPAS Unveils Online Participant Education Center
A new platform from BPAS hopes to lift participant engagement through education, research and games.Read more >
Investment Product Roundup
Baring Asset Management reveals brand consolidations; Core Bond Fund launched by Vanguard; FTSE Russell moves forward on collaboration with momentum investing specialist Trendrating.Read more >
Economic Events

In the week ending March 5, the advance figure for seasonally adjusted initial claims for unemployment insurance was 259,000, a decrease of 18,000 from the previous week’s revised level, the Labor Department reported. The four-week moving average was 267,500, a decrease of 2,500 from the previous week’s revised average.

The average interest rate for a 30-year fixed-rate mortgage is 3.68%, up from 3.64% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.96%, up from 2.94%.
Market Mirror

Yesterday, the Dow slipped 5.23 points (0.03%) to 16,995.13, the NASDAQ shed 12.22 points (0.26%) to finish at 4,662.16, and the S&P 500 decreased by 1.70 (0.09%) to 1,987.56. The Russell 2000 closed 8.78 points (0.82%) lower at 1,063.98, and the Wilshire 5000 was down 19.53 points (0.10%) at 20,347.67.

On the NYSE, 3.2 billion shares changed hands, with 1.3 declining issues for every advancing issue. On the NASDAQ, 2.9 billion shares traded, with a near 2 to 1 lead for decliners.

The price of the 10-year Treasury note was down 14/32, increasing its yield to 1.929%. The price of the 30-year Treasury bond decreased 21/32, bringing its yield up to 2.696%.
Small Talk

ON THIS DATE: In 1824, the U.S. War Department created the Bureau of Indian Affairs. Seneca Indian Ely Parker became the first Indian to lead the Bureau. In 1861, a Confederate Convention was held in Montgomery, Alabama, where a new constitution was adopted. In 1865, Union General William Sherman and his forces occupied Fayetteville, North Carolina. In 1882, the Intercollegiate Lacrosse Association was formed in Princeton, New Jersey. In 1901, U.S. Steel was formed when industrialist J.P. Morgan purchased Carnegie Steep Corp. The event made Andrew Carnegie the world’s richest man. In 1904, after 30 years of drilling, the north tunnel under the Hudson River was holed through. The link was between Jersey City, New Jersey, and New York City. In 1927, Samuel Roxy Rothafel opened the famous Roxy Theatre in New York City. In 1930, U.S. President Howard Taft became the first U.S. president to be buried in the National Cemetery in Arlington, Virginia. In 1941, U.S. President Franklin D. Roosevelt authorized the Lend-Lease Act, which authorized the act of providing war supplies to the Allies. In 1969, Levi-Strauss started selling bell-bottomed jeans. In 1986, Popsicle announced its plan to end the traditional twin-stick frozen treat for a one-stick model. In 1993, Janet Reno was unanimously confirmed by the U.S. Senate to become the first female attorney general. In 2002, two columns of light were pointed skyward from Ground Zero in New York City as a temporary memorial to the victims of the terrorist attacks of September 11, 2001.

 

And now it’s time for FRIDAY FILES!
A hazard of live reporting next to a street.Read more >
But, the train on the bride’s dress looked like a fresh pile of white leaves.Read more >

In Laojunshan, Henan Province, China, on the lead up to International Women’s Day, an event was organized to promote forgiveness between husbands and wives, empowering women. Men lined up inside of life-sized blue punching bags. Signs were written on the backs of the punching bags that said: ‘If you’re angry please hit me.’ Women took turns punching their husband’s as hard as they could while wearing boxing gloves. The event was all in fun, though; the men and women were seen laughing and joking, UK Daily Mail reports.

In Llanelli, South Wales, two men attempted to break into a car maintenance business by jumping through the roof. However, the first man jumped and hit his head on the side of the wall, knocking himself out. Video surveillance shows his partner climbing down and bringing him to, before they both left empty-handed, according to the UK’s Telegraph.

In New York City, a woman walked in to a pizzeria and asked for a pizza with chicken as a topping. An employee told the woman they didn’t have chicken as a topping, and the woman became irate and scratched the employee’s hand. DNAinfo reports that another worker tried to step in and calm the woman, but she scratched him on the arm, and tried to bite him. According to the news report, a friend with the woman did nothing to try to help. The woman has been charged with two counts of assault, one count of attempted assault and one count of harassment.
Come on, everybody, let’s dance!Read more >

In Tallahassee, Florida, the legislature is working to make it okay for couples to cohabitate. The House has passed a bill to repeal the state’s prohibition on cohabitation and it is on the desk of Governor Rick Scott. According to Yahoo! News, under a law that has been on the books since 1868, a man and woman living together could be fined $500 and locked up in jail for 60 days. According to 2014 census data, there are nearly 438,000 couples in Florida violating this law.

In Brooklyn, New York, a man who calls himself “the modern day Robin Hood” has been charged with grand larceny, criminal possession of stolen property, and petit larceny—for giving away free drinks at IHOP. According to DNAinfo, the owner of the IHOP told police he grew suspicious when he noticed Powell’s beverage sales were at 6% of the total receipt compared to 17% to 20% for other employees working the same shift and schedule. After investigating, he found the employee lost $3,000 in drink sales by not charging customers for their drinks. “I am the modern-day Robin Hood, I am not stealing, I am serving the ones in need, I take from the rich and give to the poor,” the man told investigators after he was caught.

Have a wonderful weekend, and don’t forget to “spring forward.”
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 alison.mintzer@strategic-i.com

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