Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 20th, 2019

Driving Cybersecurity with Participants and Providers

Plan sponsors should evaluate providers’ cybersecurity practices, but there are also steps they and plan participants can take to safeguard retirement accounts.Read more >
Benefits & Administration
Individuals, Employers and Government All Play a Part in Retirement Readiness
A new research report and Catherine Collinson, with Transamerica Center for Retirement Studies, lay out steps all three can take to improve retirement confidence and readiness in America.Read more >
Products, Deals and People
Retirement Industry People Moves
Aegon Asset Management Hires Distribution Head; TRA Acquires Virginia TPA Firm; American Century Investments Names Senior Retirement Strategist; and more.Read more >
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
TRIVIAL PURSUITS: Residents of the Island of Misfit Toys
Working Past Age 65 May Seem Like a Great Idea …
Employees Don’t Want ‘All or Nothing’ When It Comes to Guaranteed Lifetime Income
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Sponsored message from Fidelity Investments
Attract and obtain top talent with Fidelity's Student Debt Program
Get the talent advantage you need with the benefit employees want.Read more >
Economic Events
THE ECONOMIC WEEK AHEAD: Tomorrow, the National Association of Realtors will report about existing home sales for April. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about durable goods orders for April.
Market Mirror

Friday, the Dow was down 98.68 points (0.38%) at 25,764.00, the NASDAQ lost 81.76 points (1.04%) to finish at 7,816.29, and the S&P 500 decreased 16.79 points (0.58%) to 2,859.53. The Russell 2000 fell 21.48 points (1.38%) to 1,535.76, and the Wilshire 5000 closed 208.29 points (0.70%) lower at 29,521.58.


The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.396%. The price of the 30-year Treasury bond was up 4/32, decreasing its yield to 2.826%.


WEEK’S WORTH: For the week ending May 17, the Dow was down 0.69%, the NASDAQ lost 1.27%, and the S&P 500 decreased 0.76%. The Russell 2000 fell 2.37%, and the Wilshire 5000 finished 0.94% lower.
Next Steps for Plan Sponsors After Determination Letter Program Expansion
A client alert from Drinker Biddle & Reath goes into detail about the IRS’ recent expansion of its determination letter program and notes that the IRS is still considering input given about further expansion.Read more >
Interest Rates, Recessions and Pension Plan De-Risking
Bob Browne, CIO at Northern Trust, argues that pension plan sponsors should not wait to de-risk their plans based solely on the assumption that interest rates will rise.Read more >
Small Talk
ON THIS DATE: In 1506, in Spain, Christopher Columbus died. In 1775, North Carolina became the first colony to declare its independence. In 1861, North Carolina became the eleventh state to secede from the Union. In 1861, during the American Civil War, the capital of the Confederacy was moved from Montgomery, Alabama, to Richmond, Virginia. In 1873, Levi Strauss began marketing blue jeans with copper rivets. In 1926, Congress passed the Air Commerce Act. The act gave the Department of Commerce the right to license pilots and planes. In 1927, Charles Lindbergh took off from New York to cross the Atlantic for Paris aboard his airplane the “Spirit of St. Louis.” The trip took 33 1/2 hours. In 1932, Amelia Earhart took off to fly solo across the Atlantic Ocean. She became the first woman to achieve the feat. In 1969, U.S. and South Vietnamese forces captured Apbia Mountain, which was referred to as Hamburger Hill. In 1978, Mavis Hutchinson, at age 53, became the first woman to run across America. It took Hutchinson 69 days to run the 3,000 miles.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “What voluntary benefits do you offer employees, and do you consider these benefits a way to help employees with financial wellness?” Nearly all responding readers’ companies (94.9%) offer life insurance, and a large majority offer AD&D insurance (89.7%) and short- and/or long-term disability benefits (84.6%). Seven in 10 responding readers (71.8%) consider voluntary benefits a way to help employees with financial wellness, while 28.2% do not. In comments left by readers, there was a split between those who thought voluntary benefits were a good thing and those who thought they were not. Respondents pointed out considerations for offering voluntary benefits that plan sponsors may not think about. A couple said employees would be better off building an emergency savings fund. Editor’s Choice goes to the reader who said: “Offering voluntary benefits is important but providing employees the tools to change their behavior and improve their financial well-being can be more impactful.” A big thank you to everyone who participated in the survey!Read more >
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Editorial: Alison Cooke Mintzer


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