Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 15th, 2018

2018 Plan Sponsor of the Year: Harris Teeter Supermarkets

Thanks to the plan design enhancements the Harris Teeter team has implemented over the last decade, the plan is competitive in the retail space and drives strong, positive outcomes for participants. Read more >
Webcast Event
On May 24, join Larry Deatherage, principal and co-founder at Retirement Benefits Group, David Donaldson, president at ERISA Smart, and Andrew Miller, director of Product Development at Principal Financial Group as they discuss the different options available for reducing your liabilities and responsibilities as a plan sponsor. During this webcast, we will explore the keys to fiduciary freedom from the perspective of a financial adviser with over 25 years of retirement plan consulting experience, a former Department of Labor (DOL) investigator, and a senior manager responsible for product development at one of the largest providers in the country. Read more >
Industry Voices
The Retirement Enhancement and Savings Act of 2018: What Would It Mean for MEPs?
We have long touted the benefits of multiple employer plans, or MEPs, which can provide a cost-effective way to manage a retirement plan. As the name indicates, an MEP is formed by a number of employers—specifically, employers involved in a “commonality,” or the same line of business. Combining into an MEP can make it simpler for a given company or business owner to run a retirement plan as MEPs provide an appealing level of efficiency and governance. MEPs currently cover about 4.5 million people—an impressive enough figure, although in February, there were approximately 126.4 million full-time employees in the U.S. There are various reasons why MEPs are not more widespread, but, for our purposes here, one of the most important is the commonality requirement. However, that may soon change. Read more >
MOST READ ARTICLES
1
J.P. Morgan Agrees to Settle Stable Value Funds Suit
2
SECURE Act Passes House, Bringing Calls for Senate Collaboration
3
Individuals, Employers and Government All Play a Part in Retirement Readiness
4
Participant Loans: A Fiduciary Storm Brewing?
5
What to Know About Financial Audits Filed with Form 5500s
Products, Deals and People
Securian Introduces Retirement Plan for Small Employers
While ReadyPlan is designed for small employers, Securian’s new ERISA 3(16) fiduciary service is available to employers of all sizes utilizing any of Securian’s retirement plan products, including defined benefit (DB) plans. Read more >
TIAA Creates Mobile App for Plan Sponsors
“With plan sponsors taking on more responsibility than ever before, we want to provide them with the digital tools they need to be attentive and responsive regardless of whether they are at their desks or having hallway conversations with participants,” says Doug Chittenden, executive vice president and president of Institutional Retirement at TIAA. Read more >
Sponsored message from Vanguard
Snapshots of TDF performance miss the big picture
When evaluating TDF performance, use a holistic approach to look beyond a single point in time. Read more >
Market Mirror

Yesterday, the Dow closed 68.24 points (0.27%) higher at 24,899.41, the NASDAQ increased 8.43 points (0.11%) to 7,411.32, and the S&P 500 was up 2.41 points (0.09%) at 2,730.13. The Russell 2000 closed 6.45 points (0.40%) lower at 1,600.34, and the Wilshire 5000 was up 8.65 points (0.03%) at 28,362.03.

 

The price of the 10-year Treasury note was down 8/32, increasing its yield to 3.00%. The price of the 30-year Treasury bond decreased 15/32, bringing its yield up to 3.131%.

Compliance
Court Orders Former Lighting Company Owner to Pay Back Profit Sharing Plan
An investigation conducted by the DOL found the past trustee had issued checks from the plan’s checking account to the House of Lights, himself and others for $1,308,862, which violated ERISA, for over two years. Read more >
Settlement Reached in Excessive Fee Suit One Day After Lawsuit Is Filed
Philips North America agreed to pay $17,000,000 to settle a 401(k) excessive fee suit one day after the complaint was filed. Read more >
IRS Announces 2019 HSA Contribution Limits
For an individual with family coverage, the 2019 health savings account (HSA) contribution limit is $7,000, up from the recently reset $6,900 limit for 2018. Read more >
Small Talk

ON THIS DATE: In 1862, Congress created the U.S. Department of Agriculture. In 1911, the U.S. Supreme Court ordered the dissolution of Standard Oil Company, ruling it was in violation of the Sherman Antitrust Act. In 1918, regular airmail service between New York City, Philadelphia and Washington, D.C., began under the direction of the Post Office Department. In 1926, the New York Rangers were officially granted a franchise in the NHL. The NHL also announced that Chicago and Detroit would be joining the league in November. In 1930, Ellen Church became the first female flight attendant. In 1970, President Richard Nixon appointed America’s first two female generals. In 2014, the National September 11 Memorial Museum was dedicated in New York City.

TRIVIAL PURSUITS: What is the difference between Miracle Whip and mayonnaise? 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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