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Data and Research
Getting Longevity Wrong Can Put a Hitch in Retirement Planning
Getting Longevity Wrong Can Put a Hitch in Retirement Planning
Individuals need to know the right number in order not to outlive their retirement savings, as well as to prepare in time for financial dependents.
Painful Market Losses Help Paint Annuities in Positive Light
This significant bout of negative market volatility, coming as it does on the heels of the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, presents an important learning opportunity about the role of annuities.
Most Read
EARN Act Clears Senate Finance Committee
Plaintiffs Rebuffed by Appeals Court in Active Management Lawsuit
Data and Research
K-12 Educators Prefer Advisers for Retirement Planning
Economic Events
Interest rates on a 30-year fixed-rate mortgage averaged 3.36% for the week ending March 12, up from last week when it averaged 3.29%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 4.31%. Interest rates on a 15-year fixed-rate mortgage averaged 2.77%, down slightly from last week when it averaged 2.79%. A year ago at this time, the 15-year FRM averaged 3.76%.

The Producer Price Index for final demand fell 0.6% in February, as prices for final demand goods decreased 0.9% and the index for final demand services moved down 0.3%, the Bureau of Labor Statistics announced. The final demand index increased 1.3% for the 12 months ended in February.

In the week ending March 7, the advance figure for seasonally adjusted initial claims for unemployment insurance was 211,000, a decrease of 4,000 from the previous week’s revised level of 215,000, the Labor Department reported. The four-week moving average was 214,000, an increase of 1,250 from the previous week’s revised average of 212,750.
Market Mirror
Thursday, the Dow took a 2,352.60-points (9.99%) dive to finish at 21,200.62, the NASDAQ fell 750.25 points (9.43%) to 7,201.80, and the S&P 500 dropped 260.74 points (9.51%) to 2,480.64. The Russell 2000 plunged 141.37 points (11.18%) to 1,122.93, and the Wilshire 5000 lost 2,690.80 points (9.75%) to finish at 24,908.12.

The price of the 10-year Treasury note fell 1 2/32, increasing its yield to 0.834%. The price of the 30-year Treasury bond decreased 1 4/32, bringing its yield up to 1.445%.
IRS Issues 2020 Cumulative List for Pre-Approved DB Plans
Among other things, items on the cumulative list include changes related to the Supreme Court DOMA ruling, hardship withdrawal changes and regulations for statutory hybrid plans.
Steidle Pension Solutions Launches Payroll Integration Service
The service will reduce administrative burdens for 401(k) and 403(b) plan sponsors.
Investment Product and Service Launches
iJoin creates managed account program, and Ameritas launches glide-path tool for employer-sponsored plans.
Small Talk
ON THIS DATE: In 607, the 12th recorded passage of Halley’s Comet occurred. In 1639, Harvard University was named for clergyman John Harvard. In 1781, Sir William Herschel discovered the planet Uranus. In 1852, the New York “Lantern” newspaper published the first “Uncle Sam” cartoon. It was drawn by Frank Henry Bellew. In 1868, the Senate began the impeachment trial of President Andrew Johnson. In 1884, Standard time was adopted throughout the U.S. In 1901, Andrew Carnegie announced that he was retiring from business and that he would spend the rest of his days giving away his fortune. His net worth was estimated at $300 million. In 1911, the U.S. Supreme Court approved corporate tax law. In 1930, it was announced that the planet Pluto had been discovered by scientist Clyde Tombaugh at the Lowell Observatory. In 1935, three-thousand-year-old archives were found in Jerusalem confirming some biblical history. In 1942, the Quartermaster Corps (QMC) of the United States Army began training dogs for the newly established War Dog Program, or “K-9 Corps.” In 1942, Julia Flikke of the Nurse Corps became the first woman colonel in the U.S. Army. In 1951, the comic strip “Dennis the Menace” appeared for the first time in newspapers across the country. In 1970, Digital Equipment Corp. introduced the PDP-11 minicomputer. In 1972, “The Merv Griffin Show” debuted in syndication for Metromedia Television. In 1991, Exxon paid $1 billion in fines and for the clean-up of the Alaskan oil spill. In 1997, Sister Nirmala was chosen by India’s Missionaries of Charity to succeed Mother Teresa as leader of the Catholic order. In 2006, in New York, the official start of construction of the National September 11 Memorial & Museum began. In 2012, after 244 years of publication, Encyclopædia Britannica announced it would discontinue its print edition.

And now for some FRIDAY FUN!
He obviously forgot where he was.

In Kingstanding, Birmingham, England, a convenience store keeps a very large tub of chili powder for employees to defend themselves. It worked recently when a would-be armed robber entered the store. The clerk through a handful of chili powder in his face. The METRO reports that the stunned man stumbled back as he is engulfed in an orange cloud and dashed from the store in a panic. [pic]

In Las Cruces, New Mexico, police pulled over a vehicle that resembled one that had been reported stolen. According to court documents, the woman in the care ignored the officer’s orders to pull over and drove to her home. According to the Associated Press, police reported the woman told them she was singer Beyoncé, that she found the keys in the vehicle and decided to take it for a joy ride, and that she didn’t stop driving when she saw the emergency lights because she didn’t feel like it. She is charged with unlawful taking of a motor vehicle, concealing identity and resisting or obstructing an arrest.

In Clearwater, Florida, a Ring video surveillance camera caught a man opening an unlocked truck in his neighbor’s driveway and stealing a roll of toilet paper from a 6-pack of Smart & Simple bath tissue. According to The Smoking Gun, a pack of the toilet paper sells for $1 at Dollar General (though the retailer is currently out of stock, according to its web site). The man was arrested on a felony burglary charge and booked into the county jail on $5000 bond.

Wishing everyone a wonderful weekend!
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