Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 23rd, 2018
Benefits & Administration
Study Suggests Millennials Are Better Health Care Consumers
Analysis of the Employee Benefit Research Institute (EBRI)/Greenwald & Associates Consumer Engagement in Health Care Survey (CEHCS) reveals how Millennials are more comfortable with non-traditional engagement with their health care providers, and are more likely to apply shopping habits commonly found in the online retail realm to their health care decisions. Millennials are more likely than other generations to have researched health care options, and they are also leading the way in using innovative strategies employers are implementing to manage health coverage costs. Read more >
Products, Deals and People
Voya Offers Financial Planning for Special Needs Participants and Caregivers
Plan participants who are part of the special needs community now have access to information that can help address the unique planning circumstances they may face when preparing for the future. Read more >
Investment Products and Services Launches
AlphaCore launches risk factor analytics tool, and Franklin Resources adds to fixed income team. Read more >
Matchmaker for 3(38) Fiduciary Services Talks Market Trends
Curcio Webb serves as an independent intermediary helping plan sponsors select and monitor 3(38) advisers and outsourced chief investment officers. The matchmaker firm offers some insight about what makes for a good adviser-sponsor fit. Read more >
MOST READ ARTICLES
1
The Senate Math That Could Block SECURE Act
2
House Committee Advances Bill to Establish Union Pension Lifeline Program
3
Open MEPs Not for Every Plan Sponsor
4
Driving Financial Wellness at Work
5
Pension Participants Claim ERISA Breaches in Dow DuPont Pension Transfer
Hueler Adds to Income Solutions Platform
“We are excited to deliver a long overdue solution to the many plan sponsors seeking a prudent process for meeting their fiduciary duties related to a QPDA option,” says Kelli Hueler, founder and CEO of Hueler Income Solutions, LLC. Read more >
MetLife Partners with Ernst & Young for Financial Wellness Solution
“We’ve designed a hybrid digital/human financial wellness service that supports users as they manage the twists and turns of their financial life journeys,” says Lynn Pettus from Ernst & Young. Read more >
Economic Events

In the week ending March 17, the advance figure for seasonally adjusted initial claims for unemployment insurance was 229,000, an increase of 3,000 from the previous week’s unrevised level of 226,000, the Labor Department reported. The four-week moving average was 223,750, an increase of 2,250 from the previous week’s unrevised average of 221,500.

The average interest rate for a 30-year fixed-rate mortgage is 4.45%, up from 4.44% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.91%, up from 3.90%.

Market Mirror

Thursday, the Dow plunged 724.42 points (2.93%) to 23,957.89, the NASDAQ fell 178.61 points (2.43%) to 7,166.68, and the S&P 500 lost 68.24 points (2.52%) to finish at 2,643.69. The Russell 2000 closed 35.43 points (2.24%) lower at 1,543.87, and the Wilshire 5000 dropped 688.74 points (2.45%) to 27,476.91.

The price of the 10-year Treasury note increased 18/32, bringing its yield down to 2.819%. The price of the 30-year Treasury bond climbed 30/32, decreasing its yield to 3.067%.

Compliance
Aon Hewitt Defeats ERISA Claims Regarding Financial Engines Partnership
The United States District Court for the Northern District of Illinois, Eastern Division, has ruled for the defendants in an Employee Retirement Income Security Act (ERISA) lawsuit filed by participants in the Caterpillar 401(k) plan against Aon Hewitt. The central claim in the failed class action was that plaintiffs were forced to overpay significantly for advisory services; defendants successfully argued the plaintiff failed to state an actionable claim. As the court points out, similar claims have recently been rejected by other district courts. Read more >
From the Magazine
2018 Best in Class 401(k) Plans
Profiles are now available for the fourth “class” of companies winning the Best in Class 401(k) Plan designation. Recipients of the 2018 designation were selected from more than 3,700 401(k) plans that responded to the 2017 PLANSPONSOR Defined Contribution (DC) Survey. There are 26 winners this year. Read more >
Small Talk

ON THIS DATE: In 1775, American revolutionary Patrick Henry declared, “give me liberty, or give me death!” In 1806, explorers Lewis and Clark, reached the Pacific coast, and began their return journey to the east. In 1839, the first recorded printed use of “OK” [oll korrect] occurred in Boston’s Morning Post. In 1857, Elisha Otis installed the first modern passenger elevator in a public building. It was at the corner of Broome Street and Broadway in New York City. In 1858, Eleazer A. Gardner patented the cable streetcar. In 1868, the University of California was founded in Oakland, California. In 1903, the Wright brothers obtained an airplane patent. In 1912, the Dixie Cup was invented. In 1932, in the U.S., the Norris-LaGuardia Act established workers’ right to strike. In 1942, during World War II, the U.S. government began evacuating Japanese-Americans from West Coast homes to detention centers. In 1965, America’s first two-person space flight took off from Cape Kennedy with astronauts Virgil I. Grissom and John W. Young aboard. The craft was the Gemini 3. In 1972, the U.S. called a halt to the peace talks on Vietnam being held in Paris. In 1983, U.S. President Ronald Reagan first proposed development of technology to intercept enemy missiles. The proposal became known as the Strategic Defense Initiative and “Star Wars.” In 1983, Dr. Barney Clark died after 112 days with a permanent artificial heart. In 1990, former Exxon Valdez Captain Joseph Hazelwood was ordered to help clean up Prince William Sound and pay $50,000 in restitution for the 1989 oil spill. In 1998, the U.S. Supreme Court ruled that term limits for state lawmakers were constitutional. In 1998, the movie “Titanic” won 11 Oscars at the Academy Awards.

 

And now it’s time for FRIDAY FILES!

This poor cockatoo has apparently gone crazy. Read more >
You’ll never guess what happens when this truck tries to pull a tree down. Read more >
In Milton Keynes, England, a driver handed a fake license to officers during a traffic stop. It was a driver’s license for Homer Simpson, a character in the adult comedy “The Simpsons.” [pic] Read more >

In Severobaykalsk, Russia, a voter in Sunday’s national election decided to show he was bullish on Russia by dressing up as a bear. Russian government-controlled Sputnik News reported that the unnamed voter scared a few people with his loud roar, but that most people seemed amused. Other voters reportedly dressed in costume as well—one as a panda and one as a yeti.

 

In Philadelphia, Pennsylvania, a car dealership salesman who accompanied a man on the test drive said the man started driving erratically, so he told him to pull over. As the salesman tried to switch seats with the man, the driver allegedly pulled out a g.un and drove off, leaving the salesman stranded on the side of the road.

 

In Waterboro, Maine, an 83-year-old woman who changed her name to Jesus Christ began a letter-writing campaign 50 years ago “to spread a message of faith and peace,” she said. She recently sent a letter to Oprah Winfrey because she likes her. According to the Associated Press, Gayle King, one of the hosts of “CBS This Morning,” posted about the letter to Winfrey on Instagram, asking if it was the sign her best friend was looking for. Winfrey had said on “60 Minutes” that if God wanted her to run for president “wouldn’t God kinda tell me?”

 

In Marion County, Florida, a woman broke into a car at a dealership to sleep. While in there, she tossed a cigarette under the front seat, which caught the car on fire. A report from Orlando’s News 6 said deputies were called to the scene for a suspicious incident and found the woman in the car with the windshield shattered. After getting her out of the car, the woman claimed she couldn’t get out of the car, so she began to smash out the front windshield with her hands and feet.

 

In Eloy, Arizona, during the city’s “Day of the Dinosaurs” children’s activity in its Main Street Park, a woman dialed 911 and asked if there were dinosaurs in the park. The operator said there were and explained the event to the caller. The caller then asked, “Are they real?” according to an audio file provided to The Eloy Enterprise by the police department.


Have a great weekend, folks!

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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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