Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 31st, 2019
PLANSPONSOR National Conference
The 2019 PLANSPONSOR National Conference, June 5 – 7, brings together a unique cross-section of the industry, as only an organization such as ours can do—plan sponsors, retirement plan advisers and providers, along with legislative and legal experts. We provide plan sponsor attendees with a myriad of takeaways to build plans that improve the outcomes of unique workforces while implementing proper corporate governance to manage fiduciary duties. One of the many benefits for plan sponsors attending the PLANSPONSOR National Conference is the opportunity to listen and learn first-hand from peers about both the challenges as well as the positive outcomes that they face every day. There are a few seats left.Read more >
Administration and Benefits
Social Component Important to Physical Wellness Programs
A survey which examined people’s opinions about health topics and preferences, offers insights to help improve employer-sponsored well-being or disease-management programs.Read more >
MOST READ ARTICLES
Products, Deals and People
Investment Product and Service Launches
Allianz Global adds PFaroe for DB plan investment reporting, and Morningstar acquisition expands fixed-income analysis.Read more >
AXA Files for Annuity Exchange Offer
The offer is being made to participants in a small number of plans in which the plan sponsor has decided to no longer allow contributions to the EQUI-VEST variable annuity and to make the AXA Retirement 360 Defined Contribution Program available as an option.Read more >
Economic Events

In the week ending May 25, the advance figure for seasonally adjusted initial claims for unemployment insurance was 215,000, an increase of 3,000 from the previous week’s revised level of 212,000, the Labor Department reported. The four-week moving average was 216,750, a decrease of 3,750 from the previous week’s revised average of 220,500.

The average interest rate for a 30-year fixed-rate mortgage is 3.99%, down from 4.06% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.46%, down from 3.51%.

Market Mirror

Thursday, the Dow increased 43.47 points (0.17%) to 25,169.88, the NASDAQ gained 20.41 points (0.27%) to finish at 7,567.72, and the S&P 500 closed 5.84 points (0.21%) higher at 2,788.86. The Russell 2000 closed 4.42 points (0.30%) lower at 1,485.53, and the Wilshire 5000 was up 38.16 points (0.13%) at 28,748.31.

The price of the 10-year Treasury note increased 26/32, bringing its yield down to 2.219%. The price of the 30-year Treasury bond climbed 32/32, decreasing its yield to 2.645%.

From the Magazine
Inside Angle: Infrastructure Fees
In the plaintiffs’ bar’s apparently never-ending onslaught against the retirement industry, plaintiffs have recently concocted new claims and filed new complaints relating to the compensation received by plan service providers. Most recently, plaintiffs have turned their attention to so-called infrastructure fees that recordkeepers receive from mutual fund companies in exchange for making their funds available on their recordkeeping platform. This new development and focus by the plaintiffs’ bar has a plethora of implications for plans and their service providers.Read more >
Small Talk

ON THIS DATE: In 1879, New York’s Madison Square Garden opened. In 1884, Dr. John Harvey Kellogg patented “flaked cereal.” In 1909, the National Association for the Advancement of Colored People (NAACP) held its first conference. In 1913, the 17th Amendment went into effect. It provided for popular election of U.S. senators. In 1955, the U.S. Supreme Court ordered that all states must end racial segregation “with all deliberate speed.” In 2003, in North Carolina, Eric Robert Rudolph was captured. He had been on the FBI’s 10 Most Wanted list for five years for several bombings including the 1996 Olympic bombing.

SURVEY SAYS: I’d like to know, do you spend more time reading during the summer than other times of the year? Also, please share with other NewsDash readers what’s on your reading list for the summer of 2019. You may respond to this week’s survey by 6 p.m. Pacific time today. 

 Read more >
And now it’s time for FRIDAY FILES!
Toddler “picks up chicks” with his GTO.Read more >
This driver feels the way I do about littering.Read more >

In Viersen, Germany, a man avoided a speeding ticket thanks to a pigeon. Just as the radar clocked the driver at 54 km/h (33.5 mph) in a 30km/h zone and the camera flashed, the pigeon flew in front of the car, obscuring the face of the driver with its spread wings and thereby concealing the necessary evidence of who was at the wheel. According to the Associated Press, police say “thanks to the feathered guardian angel,” the driver was spared a 105 euro ($117) fine.

 

In Lincoln, Nebraska, police responding to a report of a domestic assault found the suspect sitting in a parked vehicle outside the home. They noted that the man also had two warrants for his arrest. When they questioned the man, he allegedly gave his name as Deangelo Towns, according to Omaha station KETV. However, the officers say they noticed a lanyard around Towner’s neck that read “Markel Towner.”

 

In Marlborough, Massachusetts, a man told The Boston Globe that when he returned to his home from work May 15, he could tell a stranger had been there. Nothing was missing, but the man noticed the beds were made, the rugs vacuumed and the toilets scrubbed. They even crafted origami roses on the toilet paper rolls. He called the experience “weird and creepy” and contacted police. Sgt. Daniel Campbell says the department hasn’t heard of similar episodes and there are no suspects.

 

In Hackettstown, New Jersey, a woman was arrested for DWI after a traffic stop. She called a friend to pick her up, but when the man arrived at the police station, authorities say, he smelled of alc.ohol and they charged him with DWI. Both of them were eventually released to another driver.

 

Wishing everyone a wonderful weekend!

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 >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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