Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 6th, 2019
Benefits & Administration
Participants Say They Have the Knowledge, but Do They Use It?
The majority of retirement plan participants surveyed said they have knowledge about their retirement plan and fees, but while the majority also said they know they need to save at least 10% of their salary, many are not doing so. Read more >
Industry Voices
Expanding the Credit Universe: Managing Credit Migration Risk for DB Plans
Pierre Couture and Brett Cornwell, with Voya Investment Management, discuss the increase in BBB bond issuance and how this affects credit risk mitigation for defined benefit (DB) plan sponsors. Read more >
Ask the Experts
What Type of Nonqualified Plan Is Allowed for a Governmental/Municipal Hospital?
“Would a governmental/municipal hospital be allowed to have a nonqualified plan? If so, what type would be allowed: a governmental or a private-tax exempt 457(b), a 457(f) plan?” Read more >
MOST READ ARTICLES
1
2019 Plan Sponsors of the Year
2
401(k) Nondiscrimination Tests Explained
3
Newport Group Picks Up Recordkeeping Business of PNC Bank
4
Why Plan Sponsors Should Consider Adding an ‘In-Retirement’ Tier in 2019
5
AAA Subsidiary Announces Student Loan Repayment Benefit for Its Employees
Economic Events

Sales of new single‐family houses in December 2018 were at a seasonally adjusted annual rate of 621,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.7% above the revised November rate of 599,000, but is 2.4% below the December 2017 estimate of 636,000.

Market Mirror

Tuesday, the Dow was down 13.02 points (0.05%) at 25,806.63, the NASDAQ slipped 1.21 points (0.02%) to 7,576.36, and the S&P 500 decreased 3.16 points (0.11%) to 2.789.65. The Russell 2000 lost 7.15 points (0.45%) to finish at 1,568.28, and the Wilshire 5000 closed 40.14 points (0.14%) lower at 28,923.03.

The price of the 10-yesr Treasury note was down 1/32, increasing its yield to 2.726%.  The price of the 30-year Treasury bond was up 4/32, decreasing its yield to 3.086%.

Compliance
Appellate Court Supports Win in Lawsuit Over Sequoia Fund in Disney 401(k)
The court found the Sequoia Fund’s investment in Valeant Pharmaceuticals was consistent with the retirement plan documents, and plaintiffs concentrated unnecessarily on whether the fund purported to be a value fund or growth fund. Read more >
IRI Advocates for Provisions of RESA in Federal Retirement Security Blueprint
In addition, in a new 2019 State Retirement Security Blueprint, the Insured Retirement Institute (IRI) says the creation of state-run retirement plans is the wrong approach to addressing retirement security for all Americans. Read more >
Small Talk
With March Madness approaching, research from global staffing firm Robert Half, 72% of senior managers said college basketball tournament activities have a positive impact on staff morale. Three-quarters of companies report they organize sports-related festivities in the office. However, nearly half (49%) of professionals surveyed say they are distracted by sports activities at work. Read more >

ON THIS DATE: In 1521, Ferdinand Magellan discovered Guam. In 1836, the 13-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 1947, the first air-conditioned naval ship, the Newport News, was launched from Newport News, Virginia. In 1960, the United States announced that it would send 3,500 troops to Vietnam. In 1967, President Lyndon B. Johnson announced his plan to establish a draft lottery. In 1981, Walter Cronkite appeared on his last episode of “CBS Evening News with Walter Cronkite.” He had been on the job 19 years. In 1997, Britain’s Queen Elizabeth II launched the first official royal Web site.

 

WEDNESDAY WISDOM: “The absence of alternatives clears the mind marvelously.”—Henry Kissinger

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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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