Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 13th, 2016
Benefits & Administration
Student Loan Debt Causing Delays in Retirement Savings
Student loan debt is causing Americans to delay saving for the future and forcing them to take on multiple jobs, according to a survey from the American Institute of CPAs conducted by Harris Poll.Read more >
Products, Deals and People
Investment Product and Service Launches
Guardian moves to expand investment flexibility with new options; Northern Trust enhances solution for fair value leveling through collaboration with Interactive Data; Nuveen Asset Management introduces pension liability matching indexes with Wilshire.Read more >
EBSA Head Lisa Gomez Says DOL Continues Honing Retirement Security Rule
Data and Research
Early Withdrawals Found to Exacerbate 401(k) Account Disparities Across Race, Gender
Final Fiduciary Rule Expected Soon
SPARK to Establish Data Security Standards for Recordkeepers
The newly established Data Security Oversight Board will collaborate to establish uniform criteria for recordkeepers and certify those who meet the criteria.Read more >
Economic Events

In the week ending May 7, the advance figure for seasonally adjusted initial claims for unemployment insurance was 294,000, an increase of 20,000 from the previous week’s unrevised level of 274,000, the Labor Department reported. This is the highest level for initial claims since February 28, 2015, when it was 310,000. The four-week moving average was 268,250, an increase of 10,250 from the previous week’s unrevised average of 258,000.

The average interest rate for a 30-year fixed-rate mortgage is 3.57%, down from 3.61% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.81%, down from 2.86%.
Sponsored message from MetLife
Pension Risk Transfer Pulse. What is the top catalyst for a Pension Risk Transfer?
Watch the video.Read more >
Market Mirror

Thursday, the Dow was up 9.38 points (0.05%) at 17,720.50, the NASDAQ closed 23.35 points (0.49%) lower at 4,737.33, and the S&P 500 was virtually unchanged at 2,064.13. The Russell 2000 was down 6.14 points (0.55%) at 1,108.59, and the Wilshire 5000 decreased 15.29 points (0.07%) to 21,309.25.

On the NYSE, 3.1 billion shares traded, with a slight lead for decliners. On the NASDAQ, 2.7 billion shares changed hands, with declining issues outnumbering advancing issues 2 to1.

The price of the 10-year Treasury note was down 6/32, increasing its yield to 1.750%. The price of the 30-year Treasury bond decreased 14/32, bringing its yield up to 2.600%.
PBGC Adjusts Penalties for Failure to Provide Disclosures
The Pension Benefit Guaranty Corporation (PBGC) is amending its regulations to adjust the penalties provided for in sections 4071 and 4302 of the Employee Retirement Income Security Act (ERISA).Read more >
Police Department Settles Age Bias Suit
The County of Maui, Hawaii, will pay $24,000 and provide other relief to settle an age discrimination lawsuit filed against the Maui County Police Department by the U.S. Equal Employment Opportunity Commission (EEOC). The police department was sued by the EEOC in 2013 for passing over a job candidate who was 45 at the time.Read more >
From the Magazine
Participant Readiness: Retirement Income Products
Less than 20% of plan sponsors offer in-plan income products, according to the 2015 PLANSPONSOR Defined Contribution (DC) Survey. Among sponsors surveyed, 6.9% offer such products that guarantee monthly income, 3% offer those that guarantee a base benefit, and 7.9% offer those that provide no guarantees. Additionally, 3.5% have gone with an out-of-plan annuity purchase/bidding service. Plan sponsors evaluating retirement-income products have a full spectrum of options to contemplate.Read more >
Small Talk

ON THIS DATE: In 1607, an expedition led by Captain Christopher Newport arrived at Jamestown, Virginia. The passengers went ashore the next day, and this site became the first permanent settlement English colony in America. In 1821, the first practical printing press was patented in the U.S. by Samuel Rust. In 1846, the U.S. declared war against Mexico. In 1865, the last land engagement of the American Civil War was fought at the Battle of Palmito Ranch in far south Texas, more than a month after Gen. Lee’s surrender at Appomattox, Virginia. In 1911, the New York Giants set a major league baseball record. Ten runners crossed home plate before the first out of the game against St. Louis. In 1968, peace talks between the U.S. and North Vietnam began in Paris. In 2003, the U.S. government unveiled a newly designed version of the $20 bill. It was the first to be colorized in an effort to stop counterfeiters.


And now it’s time for FRIDAY FILES!
Fortunately for this seagull, it does not satisfy the tuna’s taste.Read more >
Before cutting down a tree in your yard, you may want to move your boat… and truck.Read more >

In Framingham, Massachusetts, politely holding a door open for a police officer has landed a man in jail, the Associated Press reports. Authorities say the man was at the Natick Mall when he held the door for the leaving officer. That officer thought the man looked familiar, and went to check his cruiser’s computer. The officer found there were three warrants out for his arrest—for her.oin possession, shoplifting and driving with a suspended license. The officer returned to the mall and arrested the man.

In South Brunswick, New Jersey, a man seeking revenge against the man dating his ex-girlfriend went to a house and caused $10,000 in damage to vehicles in the driveway. According to the Associated Press, the man believed the vehicles in the driveway belonged to the other man. However, he was at the wrong home. Police say the man was caught on surveillance footage walking around the property with a knife and damaging the vehicles. They went to his home and arrested him hours later.
In Tauranga, New Zealand, a driver rear-ended a vehicle that was slowing for stop-go traffic control working in the area. Perhaps it was because of what the driver was using to steer the car (pic).Read more >

In Portland, Oregon, a flight from Sacramento, California, bound for Seattle had to divert and land. A man threatened to become violent if flight attendants didn’t serve him a during the flight. According to the Associated Press, the man locked himself in the bathroom and screamed and pounded on the door. He also demanded hugs from flight attendants. He has been charged with interfering with a flight crew.

In Holmes Beach, Florida, a husband and wife started quarreling on Mother’s Day. However, the argument turned violent when the wife started throwing cups around the room, punching the husband and striking him with a coat hanger. According to a probable cause affidavit filed in Manatee County, the argument started because the wife said the husband and their child bought her “the wrong flowers and candy for Mother’s Day.”

Have a great weekend, everyone!
Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >

Editorial: Alison Cooke Mintzer


Subscribe to NEWSDash, click here .

To unsubscribe, click here.

BrightScope / CIO / FWW / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund