Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 6th, 2017
Benefits & Administration
Auto Enrollment Fueling TDF Dominance
The target-date fund (TDF) continues to be a dominating force in the defied contribution (DC) space. Adoption is being fueled in large part by automatic enrollment and its role as a default investment, according to a new report by Vanguard. Read more >
Products, Deals and People
Retirement Industry People Moves
Milliman hires Employee Benefits senior consultant; USI Insurance acquires Carolina First Associates; Westminster Consulting hires senior consultant; and more. Read more >
Economic Events
THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about factory orders for January, and Wednesday, it will report about wholesale trade for January. Thursday, the Labor Department will issue its initial claims report, and Friday, we will learn the unemployment rate for February from the Bureau of Labor Statistics.
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Market Mirror

Friday, the Dow inched up 2.74 points (0.01%) to 21,005.71, the NASDAQ was up 9.53 points (0.16%) at 5,870.75, and the S&P 500 increased by 1.20 (0.05%) to 2,383.12. The Russell 2000 decreased by 1.55 (0.11%) to 1,394.11, and the Wilshire 5000 closed 28.88 points (0.12%) higher at 24,819.01.

On the NYSE, 3.1 billion shares changed hands, with a slight lead for advancing issues. On the NASDAQ, 2.9 billion shares traded, with a nearly even split between advancers and decliners.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 2.484%. The price of the 30-year Treasury bond was up 4/32, decreasing its yield to 3.071%.

WEEK’S WORTH: For the week ending March 3, the Dow gained 0.88%, the NASDAQ was up 0.44%, and the S&P 500 finished 0.67%) higher. The Russell 2000 was down 0.03%, and the Wilshire 5000 increased 0.52%.

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Compliance
ERISA Attorneys Busy Analyzing Fiduciary Rule Delay
The move from Department of Labor (DOL) this week was not an extension of the applicability date of the fiduciary rule, just a proposal to extend it; there still needs to be a thorough regulatory process to implement it. Read more >
JP Morgan 401(k) Plan Challenged Again
The 401(k) retirement plan offered by JPMorgan Chase Bank to its own employees is now the target of a second Employee Retirement Income Security Act (ERISA) lawsuit. Plaintiffs argue that, instead of acting for the exclusive benefit of the plan and its participants and beneficiaries, “defendants acted for the benefit of themselves,” by favoring JP Morgan’s own investment products. Read more >
IRS Updates Reporting Disclosure Guide
Covered in the guide are such subjects as the Form 5500, annual zone status certification, various forms related to distributions paid, Form 5330, safe harbor notices and many others. Read more >
Small Talk

ON THIS DATE: In 1820, the Missouri Compromise was enacted by the U.S. Congress and signed by U.S. President James Monroe. The act admitted Missouri into the Union as a slave state, but prohibited slavery in the rest of the northern Louisiana Purchase territory. In 1836, the thirteen-day siege of the Alamo by Santa Anna and his army ended. The Mexican army of three thousand men defeated the 189 Texas volunteers. In 1899, aspirin was patented by German researchers Felix Hoffman and Hermann Dreser. In 1944, during World War II, U.S. heavy bombers began the first American raid on Berlin. Allied planes dropped 2000 tons of bombs. In 1960, the United States announced that it would send 3,500 troops to Vietnam. In 1967, U.S. President Lyndon B. Johnson announced his plan to establish a draft lottery. In 1973, U.S. President Richard Nixon imposed price controls on oil and gas. In 1980, Islamic militants in Tehran said that they would turn over American hostages to the Revolutionary Council. In 1983, the United States Football League began its first season of pro football competition.

SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, ‘How much did you get from the Tooth Fairy when you lost a tooth?” And, “If you’re a parent, how much do/did you give to your children for losing a tooth?” I first apologize that “From one penny to a dollar,” was left out of the choices for the second question the first half of the day. So, that affects responses. Asked when they were a child, how much did the Tooth Fairy leave them when they lost a tooth, 5.4% of readers said nothing, 92.7% chose ‘From one penny to a dollar,’ and 1.8% of readers said they received more than a dollar up to three dollars. For the parents, the majority (73.5%) said they gave their child/children more than a dollar up to three dollars, and 8.8% chose ‘From one penny to one dollar’. ‘Nothing’ and ‘More than five dollars’ were each selected by 2.9% of responding readers, and ‘More than three dollars up to five dollars’ and ‘I give other items besides money’ were each chosen by 5.9% of readers. In verbatim comments, several readers offered up traditions or requirements for payouts that were interesting. It was also noted that a smaller amount back in the day would buy much more than it would now; hence the reason payouts have gotten bigger. Editor’s Choice goes to the reader who said: “We gave a 2 dollar bill, because that is where they come from, the tooth fairy.” Thanks to all who participated in the survey! 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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