| PLANSPONSOR Awards | Get to Know Our Plan Sponsor of the Year Finalists | Profiles are now online for 2019 Plan Sponsor of the Year finalists in the Public DC and Public DB categories.Read more > | | Economic Events | Sales of new single‐family houses in January were at a seasonally adjusted annual rate of 607,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.9% below the revised December rate of 652,000 and is 4.1% below the January 2018 estimate of 633,000. In the week ending March 9, the advance figure for seasonally adjusted initial claims for unemployment insurance was 229,000, an increase of 6,000 from the previous week’s unrevised level of 223,000, the Labor Department reported. The four-week moving average was 223,750, a decrease of 2,500 from the previous week’s unrevised average of 226,250. The average interest rate for a 30-year fixed-rate mortgage is 4.31%, down from 4.41% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.76%, down from 3.83%. | | Market Mirror | Thursday, the Dow was up 7.05 points (0.03%) at 25,709.94, the NASDAQ decreased 12.50 points (0.16%) to 7,630.91, and the S&P 500 was down 2.44 points (0.09%) at 2,808.48. The Russell 2000 lost 6.25 points (0.40%) to finish at 1,549.63, and the Wilshire 5000 closed 31.12 points (0.11%) lower at 29,064.46. The price of the 10-year Treasury note was down 2/32, increasing its yield to 2.627%. The price of the 30-year Treasury bond decreased 16/32, bringing its yield up to 3.044%. | | Investing | DC Plan Participant Use of TDFs Continues to Grow | While target-date funds (TDFs) are intended to automatically diversify retirement plan participants’ portfolios, Vanguard found nearly one-third mix TDFs with other investments and “are pursuing what appear to be reasonable diversification strategies.”Read more > | Cerulli Foresees Increased Use of Managed Accounts in DC Plans | “Growing emphasis on financial wellness, concerns about lack of retirement income options within employer-sponsored plans, increasing customization for the participant, and fiduciary concerns could spur additional growth in managed accounts,” Cerulli contends.Read more > | | Small Talk | ON THIS DATE: In 44 BC, Roman Emperor Julius Caesar was assassinated by high ranking Roman Senators. The day is known as the “Ides of March.” In 1781, during the American Revolution, the Battle of Guilford Courthouse took place in North Carolina. British General Cornwallis’ 1,900 soldiers defeated an American force of 4,400. In 1820, Maine was admitted as the 23rd state of the Union. In 1875, the Roman Catholic Archbishop of New York, John McCloskey, was named the first American cardinal. In 1892, Jesse W. Reno patented the Reno Inclined Elevator. It was the first escalator. In 1913, President Woodrow Wilson held the first open presidential news conference. In 1937, in Chicago, the first blood bank to preserve blood for transfusion by refrigeration was established at the Cook County Hospital. In 1955, the U.S. Air Force unveiled a self-guided missile. In 1989, the Department of Veteran’s Affairs became the 14th Department in the President’s Cabinet. In 1994, President Bill Clinton extended the moratorium on nuclear testing until September of 1995. And now it’s time for FRIDAY FILES! | Little boy wonders, “How DID this happen?”Read more > | One reason thin crust is better.Read more > | In Franschhoek, South Africa, a pig rescued and brought to an animal sanctuary was provided with soccer balls and rugby balls for play, but there were also paintbrushes lying around because the barn the pig was placed in was a new build. A sanctuary worker said, “She basically ate or destroyed everything except these paintbrushes … she loved them so much,” according to Reuters. Soon the pig was dipping the brushes into pots of paint and making her mark. Her paintings can sell for almost $4,000, with the proceeds going to animal welfare. She has even had one of her artworks turned into a watch face for Swiss watchmaker Swatch. They call her Pigcasso. [pic] Read more > | Between Jeddeh, Saudi Arabia, and Kuala Lumpur, Malaysia, a woman on a flight realized she had forgotten something—her baby daughter at the boarding area of the airport. Gulf News reported that the mother informed the flight crew that her baby was at King Abdul Aziz International Airport, and the pilot had to request permission to return. In Berchtesgaden, Bavaria, a woman rang emergency dispatchers and claimed that her husband had been killed, sending police and first responders rushing to the scene. When they got there, they found the woman just wanted someone to remove a car blocking her garage; she thought calling in a murder would get police there faster. The woman, who was visibly drunk, attempted to get into her car before officers took away her keys. In Butler County, Pennsylvania, police pulled over a suspected drunken driver whose blood-alcohol level registered .194. In a bit of irony, the man, Daniel Sober, was not sober. Wishing everyone a wonderful weekend! | Share the 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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