| | Employers Reconsidering Spousal Health Coverage | | More than half (56%) of employers have increased employee contributions to health care coverage for spouses, with another 25% planning to do so by 2018, according to results of the 20th annual 2015 Willis Towers Watson/National Business Group on Health (NBGH) Best Practices in Health Care Employer Survey. While not as prevalent, a similar trend has emerged in health care coverage for employees’ children.Read more > | | | Products, Deals and People | | Retirement Industry People Moves | | Change in leadership at Mutual of America; Beacon Pointe provides investment management for 401(k)s and 403(b)s; new hires at TIAA and Pentegra.Read more > | | Guide for Safe Harbor Plan Nondiscrimination Testing | | Daniel Schwallie, an attorney with Aon Hewitt’s Retirement Legal Consulting & Compliance practice, discusses the confusion caused by different definitions of compensation.Read more > | | | Economic Events | | THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about retail sales for February and business inventories for January, and the Bureau of Labor Statistics will reveal the producer price index (PPI) for February. Wednesday, the Census Bureau will report about housing starts for February, and the Bureau of Labor Statistics will reveal the consumer price index (CPI) for February. Thursday, the Labor Department will issue its initial claims report. | | | Market Mirror | Major U.S. stock indices closed sharply higher Friday following a rally in Europe and an upturn in crude oil prices, according to the Associated Press. The Dow climbed 218.18 points (1.28%) to 17,213.31, the NASDAQ gained 86.31 points (1.85%) to finish at 4,748.47, and the S&P 500 closed 32.34 points (1.63%) higher at 2,021.91. The Russell 2000 increased 23.57 points (2.22%) to 1,087.55, and the Wilshire 5000 soared 343.53 points (1.69%) to 20,691.20.
On the NYSE, 3.2 billion shares traded, with advancing issues outnumbering declining issues 5 to 1. On the NASDAQ, 2.9 billion shares changed hands, with a near 4 to 1 lead for advancers.
The price of the 10-year Treasury note decreased 12/32, bringing its yield up to 1.978%. The price of the 30-year Treasury bond fell 1 1/32, increasing its yield to 2.749%.
WEEK’S WORTH: For the week ending March 11, the Dow climbed 1.21%, the NASDAQ increased 0.67%, and the S&P 500 gained 1.14%. The Russell 2000 was up 0.52%, and the Wilshire 5000 finished 1.00% higher. | | | From the Magazine | | Practical Considerations for Brokerage Windows | | Plan committees need to ask questions, and get answers, before offering a brokerage window. Should the committee offer one at all? If it does, what is the process for selecting and monitoring the window and its provider?Read more > | | | Small Talk | | ON THIS DATE: In 1629, a Royal charter was granted to the Massachusetts Bay Colony. In 1794, Eli Whitney received a patent for his cotton gin. In 1900, U.S. currency went on the gold standard with the ratification of the Gold Standard Act. In 1903, the U.S. Senate ratified the Hay-Herran Treaty that guaranteed the U.S. the right to build a canal at Panama. The Columbian Senate rejected the treaty. A deal was signed on November 6, 1903, with the newly independent Panama. In 1914, Henry Ford announced the new continuous motion method to assemble cars. The process decreased the time to make a car from 12½ hours to 93 minutes. In 1947, the U.S. signed a 99-year lease on naval bases in the Philippines. In 1964, a Dallas jury found Jack Ruby guilty of the murder of Lee Harvey Oswald. In 1967, John F. Kennedy’s body was moved from a temporary grave to a permanent one. In 1995, American astronaut Norman Thagard became the first American to enter space aboard a Russian rocket. In 1996, U.S. President Bill Clinton committed $100 million for an anti-terrorism pact with Israel to track down and root out Islamic militants. | | SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Do you plan to move for retirement, and if so, why?” Nearly half (47.8%) of responding readers said they plan to move for retirement, while 29% do not and 23.2% don’t know. Asked what is the MAIN reason those who will be moving plan to do so, 27.7% indicated it is to live out a dream of living at the beach, mountains, or another country. Seventeen percent said it is to be closer to family and/or friends. Nearly 32% chose “other,” and most of those said they were planning to move to a place with better weather. However, responses also included, “to escape one of two obvious results of the presidential election,” “to start something new, somewhere new,” and “to begin a different career.” In comments left by responding readers, many expressed the great influence that family (especially grandchildren) has on the decision to move at retirement or not—though one respondent said, “I may need to move to get away from family and friends.” Some shared dreams of retirement in a warm place, while others said they will split their time between places to have year-round good weather. Editor’s Choice goes to the reader who said: “Can’t afford where I’d like to move. Don’t want to move to where I can afford. What I’ve got is paid for. So, I’ll get a sunlamp, some beach sand and an artificial putting surface for the basement.” Thank you to all who participated in the survey!Read more > | | 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 > |
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