Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 29th, 2018
Benefits & Administration
Retirement Savings More of a Priority for Men than Women
Sixty percent of men say that saving for retirement is their top financial priority, according to the Willis Towers Watson 2017 Global Benefits Attitudes Survey. In contrast, only 44% of women say the same. Instead, women say their top financial priority is meeting daily living costs (64%) and paying off debt (57%). The survey also found that for most people, saving for retirement does not become pressing until their 40s or 50s, when other financial needs have been met. Read more >
Health Care Expenses Eating into Savings
While more than $3.3 trillion—nearly one-fifth of the gross domestic product—is spent on health care in the United States, The West Health Institute and NORC at the University of Chicago poll finds Americans report that costs are a factor in a number of decisions they make about their care, and health care costs are affecting their finances. Nearly one-third (32%) report borrowing money or increasing credit card debt, and 41% say they decreased contributions to a savings plan because of health care expenses. Read more >
DB Plan Sponsors Appear Better Positioned for LDI
An extensive new “First Take” analysis published by Goldman Sachs Asset Management (GSAM) suggests corporate defined benefit (DB) plan sponsors are likely to increase allocations to fixed income as their funded statuses collectively rise. Importantly, according to researchers, the increase in funded status experienced in the last year by U.S. corporate DB plans resembles a similar increase seen in 2013. Whereas many pension plans at that time did not appreciably shift asset allocations away from equities towards fixed income and liability-driven investing strategies, the firm argues pension plan behavior “should likely be different this time.” “In fact, such portfolio shifts could help to facilitate risk transfer actions,” the firm suggests. Read more >
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Market Mirror

Wednesday, the Dow was down 9.29 points (0.04%) at 23,848.42, the NASDAQ lost 59.58 points (0.85%) to finish at 6,949.23, and the S&P 500 decreased 7.62 points (0.29%) to 2,605.00. The Russell 2000 was virtually unchanged at 1,513.02, and the Wilshire 5000 closed 71.41 points (0.26%) lower at 27,037.06.

 

The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.779%. The price of the 30-year Treasury bond was up 5/32, decreasing its yield to 3.022%.

Sponsored message from Charles Schwab
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Compliance
Former CEO of Pharmaceutical Benefits Management Company Sentenced for Kickback Scheme
After a U.S. Department of Labor Employee Benefits Security Administration (EBSA) investigation, the U.S. District Court for the Eastern District of Texas has sentenced Douglas M. Pick, former CEO of Pharmaceutical Technologies, Inc. (PTI), to one year and one day in federal prison for paying illegal kickbacks in an effort to steer benefit plans to the company. The sentencing of Pick follows his February 13, 2017, guilty plea. Read more >
Plan Sponsor of the Year Finalist Profiles
2018 Plan Sponsor of the Year Finalists
Profiles are now online for the Plan Sponsor of the Year finalists in nine categories. Read more >
Small Talk

ON THIS DATE: In 1638, the first permanent European settlement in Delaware was established. In 1847, U.S. troops under General Winfield Scott took possession of the Mexican stronghold at Vera Cruz. In 1848, Niagara Falls stopped flowing for one day due to an ice jam. In 1932, Jack Benny made his radio debut. In 1961, the 23rd amendment to the U.S. Constitution was ratified. The amendment allowed residents of Washington, D.C., to vote for president. In 1962, Jack Paar made his final appearance on the “Tonight” show. In 1971, a jury in Los Angeles recommended the death penalty for Charles Manson and three female followers for the 1969 Tate-La Bianca mur.ders. The death sentences were later commuted to life in prison. In 1974, Mariner 10, the U.S. space probe, became the first spacecraft to reach the planet Mercury. In 1983, Erno Rubik was granted a patent for his Magic Cube. In 1993, Clint Eastwood won his first Oscars. He won them for best film and best director for the film “Unforgiven.”

SURVEY SAYS: We now know the final four contenders in the 2018 NCAA basketball tournament. This week, I’d like to know, which of the four, if any, would you like to see win. You may respond to the survey by 6 p.m. Pacific time today. Read more >
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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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