Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 17th, 2016
Benefits & Administration
State OPEB Funding Improved
States’ other post-employment benefit (OPEB) liabilities decreased 10%, to $627 billion, between 2010 and 2013, after adjusting for inflation, according to a report by The State Health Care Spending Project, an initiative of The Pew Charitable Trusts, and the John D. and Catherine T. MacArthur Foundation. While fewer private-sector employers are offering retiree health benefits, nearly all states provide workers access to certain retiree health care coverage.Read more >
Products, Deals and People
Firms Partner to Help Employers Reduce Medical Spend
The alliance brings together Mercer’s health benefits consulting capabilities with the Grand Rounds care team.Read more >
Data and Research
Student Loan Repayments Expected to Derail Employees’ Retirement Savings
Social Security Administration Cannot Calculate 2024 COLA if Government Shuts Down
Senate Committee Passes Bill Permitting Marijuana Industry Employers to Sponsor Retirement Plans
Market Mirror

Solid gains in energy and technology stocks led major U.S. stock indices higher, the Associated Press reports. The Dow gained 175.39 points (1.00%) to finish at 17,710.71, the NASDAQ closed 57.78 points (1.22%) higher at 4,775.46, and the S&P 500 increased 19.81 points (0.97%) to 2,066.42. The Russell 2000 was up 13.77 points (1.25%) at 1,116.21, and the Wilshire 5000 climbed 224.26 points (1.06%) to 21, 341.47.

On the NYSE, 3.1 billion shares traded, with advancing issues outnumbering declining issues more than 3 to1. On the NASDAQ, 2.7 billion shares changed hands, with a more than 2 to 1 lead for advancers.

The price of the 10-year Treasury note decreased 16/32, bringing its yield up to 1.754%. The price of the 30-year Treasury bond climbed 30/32, increasing its yield to 2.596%.
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Court Expands Withdrawal Liability Rules for Construction Employers
The 10th U.S. Circuit Court of Appeals has found that a construction employer owes multiemployer plan withdrawal liability even though a non-union construction employer continued its operations within five years after the union employer exited the plan.Read more >
EEOC Announces Final Rules for Wellness Programs
The U.S. Equal Employment Opportunity Commission (EEOC) today issued two final rules that explain how Title I of the Americans with Disabilities Act (ADA) and Title II of the Genetic Information Nondiscrimination Act (GINA) apply to wellness programs offered by employers that request health information from employees and their spouses.Read more >
Bank Targeted in ERISA Complaint for Self-Dealing
Participants in M&T Bank retirement plans accuse the company of unfairly promoting its own mutual funds at the expense of plan performance.Read more >
Net new investment to long-term mutual funds and exchange-traded funds (ETFs) totaled $15.2 billion in April, according to Strategic Insight (SI), an Asset International company. The SI fund flow data shows bond funds captured $27.4 billion of net inflows, while equity funds experienced net redemptions of $12.2 billion.Read more >
Small Talk
ON THIS DATE: In 1792, 24 brokers founded the New York Stock Exchange at 70 Wall Street. In 1875, the first Kentucky Derby was run at Louisville, Kentucky. In 1932, the U.S. Congress changed the name “Porto Rico” to “Puerto Rico.” In 1954, the U.S. Supreme Court unanimously ruled for school integration in Brown vs. Board of Education of Topeka. The ruling declared that racially segregated schools were inherently unequal. In 1973, the U.S. Senate Watergate Committee began its hearings. In 1999, Alex Trebek received a star on the Hollywood Walk of Fame. In 2000, Thomas E. Blanton Jr. and David Luker surrendered to police in Birmingham, Alabama. The two former Ku Kl.ux members were arrested on charges from the bombing of a church in 1963 that killed four young black girls. In 2000, Austria, the U.S. and six other countries agreed on the broad outline of a plan that would compensate Nazi-era forced labor.
TRIVIAL PURSUITS: Of these three brand personas, which one was NOT inspired by a real person: Aunt Jemima, Betty Crocker, Sara Lee?Read more >
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Editorial: Alison Cooke Mintzer


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