Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 20th, 2015
Benefits & Administration
Younger Workers Lack Feeling of Control over Retirement
Nearly half of Americans younger than 30 (49%) do not feel in control of determining their retirement date, according to the latest COUNTRY Financial Security Index survey. Among this group, nearly one-third (31%) say that their retirement date is “not at all” in their control. Reaching a savings goal is the number one concern Americans have regarding their ability to retire, especially among those younger than 30.Read more >
Should Employees Add an IRA to Savings Mix?
“Americans may be unaware of the benefits of having both an IRA and a 401(k) or 403(b),” a research report says. “Of respondents who said they would not consider contributing to an IRA, 28% said they would not consider it because they already have a 401(k) or a 403(b) and don’t need an IRA.” TIAA-CREF says its IRA survey results point to an important opportunity for retirement plan sponsors and advisers to impart better knowledge about the benefits of tax-advantaged savings, whatever the form of the account.Read more >
Products, Deals & People
Keeley Asset Management appointed Mark Sullivan to the newly created position of head of institutional business development and consultant relations. Based in Chicago, Sullivan’s responsibilities include expanding the firm’s existing institutional business, with an emphasis on creating and maintaining relationships with both consultants and plan sponsors.Read more >
Consulting Firm Offers PSCA Fiduciary Training
Blue Prairie Group is partnering with the Plan Sponsor Council of America (PSCA) to provide an online fiduciary training program for clients affected by the Employee Retirement Income Security Act (ERISA). PSCA’s online fiduciary training program provides a certificate of completion for fiduciaries who complete a series of modules and pass corresponding tests.Read more >
TRIVIAL PURSUITS: How Many Phils Have There Been?
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
2022 Recordkeeping Survey
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
Maximum Benefit and Contribution Limits Table 2023
Economic Events
In the week ending March 14, the advance figure for seasonally adjusted initial claims for unemployment insurance was 291,000, an increase of 1,000 from the previous week’s revised level. The four-week moving average was 304,750, an increase of 2,250 from the previous week’s revised average.
Market Mirror

Stocks are closing mostly lower, led by declines in the energy sector as the price of oil resumes a slide, according to the Associated Press. The Dow fell 117.16 points (0.65%) to 17,959.03, the NASDAQ increased 9.55 points (0.19%) to 4,992.38, and the S&P 500 was down 9.93 points (0.47%) at 2,089.57. The Russell 2000 was up 2.72 points (0.22%) at 1,254.85, and the Wilshire 5000 closed 80.80 points (0.36%) lower at 22,135.81.

On the NYSE, 3.2 billion shares changed hands, with declining issues outnumbering advancing issues nearly 2 to 1. On the NASDAQ, 2.8 billion shares traded, with a slight lead for advancers.

The price of the 10-year Treasury note fell 14/32, increasing its yield to 1.974%. The price of the 30-year Treasury bond decreased 13/32, bringing its yield up to 2.530%.

SEC Signals Intent for Uniform Fiduciary Standard
Media reports are citing comments from Securities and Exchange Commission (SEC) Chair Mary Jo White, to the effect that the SEC will “implement a uniform fiduciary duty for broker/dealers and investment advisers where the standard is to act in the best interest of the investor.” A number of industry professionals confirmed Chair White’s comments for PLANSPONSOR. The SEC’s move to step more actively into the ongoing fiduciary definition debate, which until now has been centered around the Department of Labor’s own fiduciary rulemaking, could have a big impact, notes Bob Kurucza, co-chair of Goodwin Procter’s financial institutions group and partner in its business law department.Read more >
BNY Mellon Settles Foreign Exchange Trading Suit
The Bank of New York (BNY) Mellon has agreed to repay $84 million to employee benefit plan customers that the Department of Labor (DOL) says were victimized through the bank’s “standing instruction” foreign exchange trading program. An investigation by the department’s Employee Benefits Security Administration (EBSA) found that, for most standing instruction foreign currency exchange transactions with customers, including retirement plans, the bank assigned nearly the worst prices at which currencies had traded in the market during all or part of a day. At the same time, the bank was leading its clients to believe that it was pricing their transactions in a more favorable manner.Read more >
Small Talk

ON THIS DATE: In 1852, Harriet Beecher Stowe’s book “Uncle Tom’s Cabin,” subtitled “Life Among the Lowly,” was first published. In 1854, in Ripon, Wisconsin, former members of the Whig Party met to establish a new party to oppose the spread of slavery into the western territories, founding the Republican Party. In 1965, President Lyndon B. Johnson notified Alabama’s Governor George Wallace that he would use federal authority to call up the Alabama National Guard in order to supervise a planned civil rights march from Selma to Montgomery. In 1982, Joan Jett’s “I Love Rock ‘n’ Roll” topped the Billboard pop chart.


And now it’s time for FRIDAY FILES!

No matter the song, dancing on a treadmill is cool.Read more >
This little girl thinks she received a baby hamster.Read more >

In Brunswick, New York, a man got the attention of a state trooper filling up at a gas station when he pulled up to the pump next to the trooper, got out of his truck—and smashed into the trooper’s car. The trooper watched him walk unsteadily into the gas station then back out to his truck to pump gas, according to the New York Daily News. The trooper questioned the man and issued a field sob.riety test, which the man failed with a blood alc.ohol level of 0.18.

In Londonderry, England, a car with two men in it crashed into a police officer’s car—unfortunate for them since the car contained approximately £240,000 worth of suspected can.nabis. The two men were arrested on suspicion of possession of a class B controlled drug with intent to supply.

This video challenges you to do the impossible, and you’ll look funny trying.Read more >

In Sheffield, England, a teenage bicyclist was hit by a car. The man driving the car stopped, and a woman got out of the passenger’s seat and walked over to the teenager. Incredibly, she told the victim that her children were upset, and that they were late for school, and returned to the car, which drove off, the Sheffield Star reported. Fortunately, the teen was not seriously injured. Police are hoping a witness will help them find the car’s driver.

In Kanpur, Uttar Pradesh, India, a bride walked out of her wedding ceremony after the groom failed to solve a simple math problem. The Associated Press reports that the bride tested the groom on his math skills and when he got the sum wrong, she walked out. The question she asked: How much is 15 plus six? His reply: 17. The groom’s family tried persuading the bride to return, but she refused, saying the groom had misled her family about his education.

Have a nice weekend!
Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more >

News from


Copyright © Asset International, Inc., 2015.

All rights reserved.  No reproduction without prior authorization.

Editorial: Alison Cooke Mintzer


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