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PLANSPONSOR NEWSDASH LOGO March 9th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
Benefits
Traditional Health Benefit Cost Reduction Strategies Waning
Offering voluntary benefits, enhancing benefit communications and telemedicine are just some of the new strategies employers are using or considering.
Deals and People
Retirement Industry People Moves
DCIIA unveils founding members of retirement research center; Transamerica adds workplace solutions executives; Southeast regional sales director joins BPAS; and more.
Most Read
Compliance
Effect of the Biden Administration on Health and Retirement Benefits
Compliance
Judge Certifies Sizable Class in Lawsuit Over TIAA’s Retirement Plan Loan Program
Compliance
Cybersecurity Risks Still Lurking for Retirement Plan Sponsors
SPONSORED BY: Fidelity
The Benefits Balancing Act
Offering more benefits typically leads to recruitment success, but it’s not as simple when it comes to retention.
Economic Events
January sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $504.6 billion, up 1.6% from the revised December level and up 2.2% from the revised January 2019 level, the Census Bureau announced. The November 2019 to December 2019 percent change was revised from the preliminary estimate of down 0.7% to down 0.2%.

Nonfarm payroll employment rose by 273,000 in February, and the unemployment rate (3.5%) changed little, the Bureau of Labor Statistics reported. Employment rose in health care and social assistance, food services and drinking places, government, construction, professional and technical services, and financial activities.

Wednesday, the Bureau of Labor Statistics will reveal the consumer price index for February, and Thursday, it will reveal the producer price index for February.
Market Mirror
Friday, the Dow lost 256.50 points (0.98%) to finish at 25,864.78, the NASDAQ closed 162.98 points (1.87%) lower at 8,575.62, and the S&P 500 decreased 51.57 points (1.71%) to 2,972.37. The Russell 2000 dropped 29.60 points (2.00%) to 1,449.22, and the Wilshire 5000 fell 562.74 points (1.83%) to 30,157.16.

The price of the 10-year Treasury note increased 1 2/32, bringing its yield down to 0.788%. The price of the 30-year Treasury bond climbed 5 32/32, decreasing its yield to 1.315%.

For the week ending March 6, the Dow gained 1.79%, the NASDAQ was up 0.10%, and the S&P 500 finished 0.61% higher. The Russell 2000 fell 1.84%, and the Wilshire 5000 increased 0.11%.
Compliance
ERISA Lawsuit Challenging CenturyLink Fund Choices Dismissed
The decision emphasizes that the use of hindsight to judge the prudence of fiduciaries’ investment decisions is impermissible under ERISA.
Plan Profile
Time Is Money for Repaying Student Debt
A sponsor lets workers turn their PTO into loan payments
Small Talk
ON THIS DATE: In 1793, Jean Pierre Blanchard made the first balloon flight in North America. It was witnessed by President George Washington. In 1820, Congress passed the Land Act that paved the way for westward expansion of North America. In 1841, at the end of an historic case, the U.S. Supreme Court ruled, with only one dissent, that the African slaves who seized control of the Amistad slave ship had been illegally forced into slavery, and thus were free under American law. In 1862, during the U.S. Civil War, the ironclads Monitor and Virginia fought to a draw in a five-hour battle at Hampton Roads, Virginia. In 1863, General Ulysses Grant was appointed commander-in-chief of the Union forces. In 1933, Congress began its 100 days of enacting New Deal legislation. In 1945, during World War II, U.S. B-29 bombers launched incendiary bomb attacks against Japan. In 1959, Mattel introduced Barbie at the annual Toy Fair in New York City. In 1975, work began on the Alaskan oil pipeline. In 1990, Dr. Antonia Novello was sworn in as the first female and first Hispanic surgeon general.
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