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| DOL Investigating 3M Pension Plan | |
| 3M Company has said in a Securities and Exchange Commission (SEC) Form 10-Q filing that the Department of Labor (DOL) is investigating its pension plan. The DOL stated its investigation relates to certain private equity investments, plan expenses, securities lending, and distributions of plan benefits.Read more > | |
| Products, Deals and People | |
| Prudential Retirement Appoints New CEO | |
| Phil Waldeck will serve as the president and chief executive officer of Prudential Retirement, a division of Prudential Financial, effective June 5. He succeeds Christine Marcks, who recently announced her decision to retire following more than 13 years of service, a decade of which was spent as president and CEO.Read more > | |
| Sponsored message from Natixis | |
| Retirement planning with a purpose More and more clients want their personal values reflected in their investment decisions. Natixis Sustainable Future Funds is the industry’s first ESG-driven target date funds. Help your clients look forward to the future with confidence. Join the movement >> Read more > | |
| Economic Events | |
| March 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 $465.5 billion, virtually unchanged from the revised February level, but up 9.1% from the March 2016 level, the Census Bureau announced. The January to February percent change was revised from the preliminary estimate of up 0.6% to up 0.7%. | |
| Market Mirror | |
Tuesday, the Dow closed 36.50 points (0.17%) lower at 20,975.78, the NASDAQ increased 17.93 points (0.29%) to 6,120.59, and the S&P 500 was down 2.46 points (0.10%) at 2,396.92. The Russell 2000 was virtually unchanged at 1,391.86, and the Wilshire 5000 decreased 21.89 points (0.09%) to 24,932.90. The price of the 10-year Treasury note was down 2/32, increasing its yield to 2.396%. The price of the 30-year Treasury bond was up 2/32, decreasing its yield to 3.022%. | |
| Ask the Experts | |
| “I work for a large private 501(c)(3) health care system that sponsors several 403(b) plans for different operating entities that are all part of the same controlled group for testing purposes. We are considering adding a Roth contribution option; currently we only permit pre-tax elective deferrals. If we add Roth to one 403(b) plan, do we need to add it to all of our 403(b) plans? Or can we pick and choose where to add the feature?”Read more > | |
| Investing | |
| Demographic Transition Can Inform Investment Decisions | |
| The aging of the workforce is not just a U.S. phenomenon—and the global trend will impact investment returns for a long time to come.Read more > | |
| Small Talk | |
| Despite healthy markets, investors are feeling less generous toward Mom this year, with nearly one in five (18%) indicating they don’t plan on spending any money on a gift for Mother’s Day this year, versus just 5% saying the same thing in Spectrem Group’s 2016 survey. For those buying a gift, however, flowers remain the most popular option.Read more > | |
| ON THIS DATE: In 1503, Christopher Columbus discovered the Cayman Islands. In 1773, the English Parliament passed the Tea Act, which taxed all tea in the U.S. colonies. In 1865, Confederate President Jefferson Davis was captured by Union troops near Irvinville, Georgia. In 1869, Central Pacific and Union Pacific Railroads met in Promontory, Utah. A golden spike was driven in at the celebration of the first transcontinental railroad in the U.S. In 1872, Victoria Woodhull became the first woman nominated for the U.S. presidency. In 1908, the first Mother’s Day observance took place during a church service in Grafton, West Virginia. In 1924, J. Edgar Hoover was appointed head of the Federal Bureau of Investigation. In 1943, U.S. troops invaded Attu in the Aleutian Islands to expel the Japanese. In 1960, the U.S.S. Triton completed the first circumnavigation of the globe under water. The trip started on February 16. In 1962, Marvel Comics published the first issue of “The Incredible Hulk.” In 1968, preliminary Vietnam peace talks began in Paris. In 1969, the National and American Football Leagues announced their plans to merge for the 1970-71 season. In 1986, Navy Lt. Commander Donnie Cochran became the first black pilot to fly with the Blue Angels team. In 2011, it was announced that Microsoft had closed a deal to purchase the internet phone service Skype for $8.5 billion.
WEDNESDAY WISDOM: “The greatest use of a life is to spend it on something that will outlast it.”—William James, American philosopher and psychologist | |
| Share the news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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