Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 17th, 2015
2015 Plan Sponsor of the Year Finalists
‘Meet’ Our 2015 Plan Sponsor of the Year Finalists
Read the profiles of our 2015 Plan Sponsor of the Year finalists in the following categories: Corporate 401(k) less than $50mm; Corporate 401(k) $50mm to $250mm; Corporate 401(k) $250mm to $1b; Corporate 401(k) more than $1b; 403(b); Public DC; Public DB; and Multiple Plans. Each profile contains a story of success—and yet, many of these sponsors still consider their plan to be a work in progress.Read more >
Products, Deals & People
DWC ERISA Consultants, LLC (DWC) announced that, effective March 4, Destel-Bergen Corporation is merging its retirement plan administrative services practice into DWC. Destel-Bergen Corporation is a third-party administrator based in Petaluma, California, providing a variety of administrative and consulting services for 401(k) and other tax qualified retirement plans.Read more >
Platform Integrates Benefits for Self-Insured Plan Sponsors
Keas, which provides health benefits management, created Health Hub to help benefit plan sponsors unify their benefit offerings—including health assessments, incentive management, wearable devices, tobacco cessation programs and cancer screenings, among others—to streamline employer’s management and to fully engage employees. The platform eliminates administrative overhead for HR and benefits departments, and drives utilization of existing health benefits that might be going unused. “The irony of reducing waste and improving the health of the employer-sponsored population for over 100 million Americans is that it’s not a health problem, but rather a marketing and IT problem,” says Josh Stevens, chief executive of Keas. “The techniques used to solve the health care engagement dilemma must come from consumer marketing and IT professionals who can simplify and streamline the employer-sponsored health experience.”Read more >
Six relationship managers have been added to MassMutual’s network in New England, New York, the West, Southwest and mid-Atlantic region, boosting the number to 103. The six will support retirement plan sponsors, advisers and third-party administrators (TPAs). The additions are needed to support record sales, according to Una Morabito, senior vice president, relationship management for MassMutual Retirement Services.Read more >

2023 DC Survey Standouts
Understanding Investments and Fees: A Key Part of Plan Committee Education
TIAA In-Plan Retirement Income Option Reaches $30B
Market Mirror

Yesterday, the Dow gained 228.11 points (1.29%) to finish at 17,977.42, the NASDAQ increased 57.75 points (1.19%) to 4,929.51, and the S&P 500 climbed 27.77 points (1.35%) to 2,081.17. The Russell 2000 was up 7.63 points (0.62%) at 1,239.77, and the Wilshire 5000 closed 259.80 points (1.19%) higher at 22,008.56.

On the NYSE, 3.2 billion shares traded, with a near 2 to 1 lead for advancers. On the NASDAQ, 2.8 billion shares changed hands, with 1.3 advancing issues for every declining issue.

The price of the 10-year Treasury note was up 11/32, decreasing its yield to 2.076%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 2.651%.

County Says Consultant Responsible for Retirement Plan Bias
In a recently filed lawsuit, Baltimore County, Maryland, says Buck Consultants, LLC has a contractual duty to defend, indemnify and hold harmless the county in connection with a lawsuit filed by the Equal Employment Opportunity Commission (EEOC). The civil action EEOC v. Baltimore County, et. al. was brought in 2007 under the Age Discrimination in Employment Act (ADEA) and alleged unlawful employment practices on the basis of age because older employees were required to pay higher contributions than those paid by younger employees to receive the same benefits from Baltimore County Employees’ Retirement System (ERS).Read more >
Regulators Issue Final Rules for Wraparound Health Coverage
The U.S. Departments of Labor, Health and Human Services, and Treasury have published final rules to amend the definition of excepted benefits to include certain limited coverage that wraps around individual health insurance. Such coverage would have to be specifically designed to provide meaningful benefits such as coverage for expanded in-network medical clinics or providers, reimbursement for the full cost of primary care, or coverage of the cost of prescription drugs not on the formulary of the primary plan. The final rules permit group health plan sponsors, in limited circumstances, to offer wraparound coverage to employees who are purchasing individual health insurance in the private market, including in the Health Insurance Marketplace. The rule sets forth two pilot programs for limited wraparound coverage.Read more >
Managed Accounts Show Little Fee Compression
Financial research and analytics firm Cerulli Associates finds managed account programs are more resistant to fee compression than other commonly used qualified default investment alternatives. According to Cerulli, the explicit costs of all types of managed account programs, with the exception of unified managed accounts (UMAs), varied only three to six basis points between 2008 and 2014.Read more >
Small Talk

ON THIS DATE: In 461, Saint Patrick, Christian missionary, bishop and apostle of Ireland, died at Saul, Downpatrick, Ireland. In 1958, the song ”Tequila” by the Champs hit No. 1 on the Billboard pop chart. In 1941, the National Gallery of Art was officially opened by U.S. President Franklin D. Roosevelt in Washington, D.C. In 1973, the first American prisoners of war (POWs) were released from the “Hanoi Hilton” in Hanoi, North Vietnam.


TUESDAY TRIVIA: An ear of corn always has an even number of rows of kernels.

TRIVIAL PURSUITS: On January 15, 1919, Boston, Massachusetts, experienced a disastrous flood, but it wasn’t water that flowed through the city. What caused the disastrous flood?Read more >
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Copyright © Asset International, Inc., 2015.

All rights reserved.  No reproduction without prior authorization.

Editorial: Alison Cooke Mintzer


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