Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 4th, 2018
Benefits & Administration
Retirement Plan Exchanges for 403(b)s
Speaking at the Plan Sponsor Council of America (PSCA) 71st Annual National Conference, Brodie Wood, SVP of healthcare, education and not-for-profit markets at Transamerica Retirement Solutions, discussed the efficiencies and benefits a closed multiple employer plan (MEP) can offer not-for-profit 403(b) plans. Read more >
HSA Plan Sponsor Recipe for Success
Sara Caddy, benefits manager at Dimensional Fund Advisors, which won an Eddy Award for HSA usage, overall participation and communication strategy, shared its recipe for success. Read more >
From the Magazine
Lost and Not Found
Most plan fiduciaries would reasonably expect that having at least some missing participants was inevitable and that, provided that reasonable procedures were in place to locate such people, plan fiduciaries could satisfy their obligations under the Employee Retirement Income Security Act (ERISA) and move on to the next of many issues on their list. However, over the last several years, plan fiduciaries across the country have begun experiencing the shared dread of opening their mail to find a notice of investigation from the Department of Labor (DOL) inquiring about procedures for locating missing participants. Read more >
Products, Deals and People
Investment Products and Services Launches
Russell Investments Presents New ESG Score Framework; Merrill Lynch Reveals New ESG Portfolios; EDHEC-Risk Institute Reexamines Retirement Products; and more. Read more >
MOST READ ARTICLES
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New Lawsuit Highlights Importance of Cybersecurity for Retirement Plans
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IRS Releases 2019-2020 Priority Guidance Plan
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DC Plans 3.0 Will Really be Tailored to Individual Situations
Economic Events

New orders for manufactured durable goods in March increased $6.4 billion or 2.6% to $254.9 billion, the U.S. Census Bureau announced. This increase, up four of the last five months, followed a 3.5% February increase. Excluding transportation, new orders were virtually unchanged. Excluding defense, new orders increased 2.8%. Transportation equipment, also up four of the last five months, drove the increase, $6.4 billion or 7.6% to $91.4 billion.

 

In the week ending April 28, the advance figure for seasonally adjusted initial claims for unemployment insurance was 211,000, an increase of 2,000 from the previous week’s unrevised level of 209,000. The four-week moving average was 221,500, a decrease of 7,750 from the previous week’s unrevised average of 229,250. This is the lowest level for this average since March 3, 1973 when it was 221,250.

 

The average interest rate for a 30-year fixed-rate mortgage is 4.55%, down from 4.58% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 4.02%, down from 4.03%.

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

Thursday, the Dow was up 5.17 points (0.02%) to 23,930.15, the NASDAQ closed 12.75 points (0.18%) lower at 7,088.15, and the S&P 500 decreased by 5.94 points (0.23%) to 2,629.73. The Russell 2000 lost 8.36 points (0.54%) to finish at 1,546.56, and the Wilshire 5000 fell 245.06 points (0.89%) to 27,347.50.

 

The price of the 10-year Treasury note was up 7.32, lowering its yield to 2.943%. The price of the 30-year Treasury bond increased 15/32, lowering its yield to 3.123%.

Compliance
Appeals Court Rejects AARP, State Arguments to Revive DOL Fiduciary Rule Process
The decision puts another layer of finality on the fate of the now-defunct Department of Labor fiduciary rule expansion, meaning the compliance landscape has shifted yet again for plan sponsors. Read more >
Investing
For Strategic Long-Term Investors, Volatility Means Opportunity
PLANSPONSOR speaks with John Diehl, senior vice president of strategic markets for Hartford Funds, on the subject of equity market volatility and ways to help ease plan participant concerns amid big price swings. Read more >
Small Talk

ON THIS DATE: In 1715, a French manufacturer debuted the first folding umbrella. In 1863, the Battle of Chancellorsville ended when the Union Army retreated. In 1905, Belmont Park opened in suburban Long Island. It opened as the largest race track in the world. In 1942, the Battle of the Coral Sea commenced as American and Japanese carriers launched their attacks at each other. In 1961, thirteen civil rights activists, dubbed “Freedom Riders,” began a bus trip through the South. In 1964, “Another World” premiered on NBC-TV. In 1970, the Ohio National Guardsmen opened fire on students during an anti-Vietnam war protest at Kent State University. Four students were killed and nine others were wounded. In 1979, Margaret Thatcher became Britain’s first woman prime minister. In 1987, the First Bank of the United States was listed as a National Historic Landmark. In 2012, in Las Vegas, Google received the first self-driving vehicle testing license.

 

 

No FRIDAY FILES this week.

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

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