Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 31st, 2016
Benefits & Administration
Parents Put Children Over Savings Needs
When asked which is a higher priority, 67% of parents surveyed for T. Rowe Price’s 2016 Parents, Kids & Money Survey said saving for their children’s college education is more important than saving for retirement. Many are using retirement savings to fund other non-urgent priorities, and do not know how much they need to save for retirement.Read more >
Products, Deals and People
Newport Group Launches as Unified Brand
Verisight has unified with DailyAccess and The Newport Group under a new brand: Newport Group. Newport Group COO Laura Ramanis tells PLANSPONSOR, “I think as we looked at the various stages of the companies and what our clients need for the future, we decided now is a good time to unify. It maximizes our efficiencies.” Ramanis discussed details of the new brand.Read more >
MOST READ ARTICLES
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2021 Plan Sponsor of the Year
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A Checklist for Retirement Plan Committees
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How to Effectively Measure Retirement Plan Success
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2020 Recordkeeping Survey
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Settlement Reached in Insperity 401(k) Excessive Fee, Self-Dealing Suit
Folio/KTRADE Partner to Offer Enhanced Plan Design
Folio Institutional, a platform for registered investment advisers (RIAs) that combines clearing, custody and an array of technology services, has partnered with North American KTRADE Alliance, LLC to give plan sponsors and their advisers a better way to avoid conflicts of interest, manage defined contribution (DC) plan costs and enhance plan participant services.Read more >
Mercer, Thomsons Partner to Support Multinationals
Mercer and Thomsons Online Benefits have entered into an alliance to expand their respective offerings to multinationals looking to manage their global benefits programs.Read more >
State Street to Acquire GE Asset Management
State Street Corporation has agreed to acquire GE Asset Management (GEAM) from GE. The transaction is expected to add to State Street Global Adviors’ (SSGA’s) alternatives capabilities, while strengthening existing fundamental equity and active fixed income teams.Read more >
Market Mirror

U.S. stock indices closed higher again Wednesday, led by banks and technology stocks, according to the Associated Press. The Dow climbed 83.55 points (0.47%) to 17,716.66, the NASDAQ gained 22.67 points (0.47%) to finish at 4,869.29, and the S&P 500 closed 8.94 points (0.44%) higher at 2,063.95. The Russell 2000 increased by 1.36 (0.12%) to 1,110.44, and the Wilshire 5000 was up 81.96 points (0.39%) at 21,132.20.

On the NYSE, 3.2 billion shares traded, with a 1.7 to 1 ration of advancers to decliners. On the NASDAQ, 2.7 billion shares changed hands, with 3 advancing issues for every 2 declining issues.

The price of the 10-year Treasury note decreased 6/32, bringing its yield up to 1.826%. The price of the 30-year Treasury bond fell 1 3/32, increasing its yield to 2.655%.
Compliance
Merrill Lynch Cleared of Wrongdoing in Excessive Fee Case
The U.S. District Court for the Southern District of New York has found that Merrill Lynch was not acting in a fiduciary capacity under the Employee Retirement Income Security Act (ERISA) by presenting a roster of funds from which 401(k) plan trustees could choose to offer in the plan.Read more >
Small Talk

ON THIS DATE: In 1880, Wabash, Indiana, became the first town to be completely illuminated with electric light. In 1885, Binney & Smith Company was founded in New York City. The company later became Crayola, LLC. In 1889, in Paris, the Eiffel Tower officially opened. In 1906, the Intercollegiate Athletic Association of the United States was founded to set rules in amateur sports. The organization became the National Collegiate Athletic Association in 1910. In 1917, the U.S. purchased and took possession of the Virgin Islands from Denmark for $25 million. In 1918, for the first time in the U.S., Daylight Saving Time went into effect. In 1932, the Ford Motor Co. debuted its V-8 engine. In 1933, the U.S. Congress authorized the Civilian Conservation Corps to relieve rampant unemployment. In 1940, LaGuardia airport in New York officially opened to the public. In 1945, “The Glass Menagerie” by Tennessee Williams opened on Broadway. In 1987, HBO (Home Box Office) earned its first Oscar for “Down and Out in America.” In 1998, Buddy Hackett received a star on the Hollywood Walk of Fame. In 2004, Google Inc. announced that it would be introducing a free e-mail service called Gmail.

 

SURVEY SAYS: Sorry, not this week.
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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