Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 7th, 2018
Webcast Event
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, on May 24 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 Investigator, and a senior manager responsible for product development at one of the largest providers in the country.Read more >
Benefits & Administration
Key Employee Benefit Plan Internal Controls to Have in Place
Retirement plan sponsors need to know the clear difference between internal controls and outsourced controls and know their responsibility in either case, David M. Kot, a partner at BKD CPAs & Advisors, told attendees of the Plan Sponsor Council of America (PSCA) 71st Annual National Conference. “If an auditor or exam agent comes in and you don’t have documentation of controls in place, it will lead to more questions,” he said. “Internal controls should be part of a plan sponsor’s day-to-day operations.” Kot focused on internal controls for eligibility, compensation, and contributions and loans.Read more >
Specific Actions Lead to Higher Retirement Income
Empower has identified specific employee actions—which it calls “habits of success”—that correlate with significantly higher projected lifetime income when working years end. In a white paper, “Scoring the Progress of Retirement Savers,” it says plan sponsors can foster these behaviors through various plan features, tools and access to professional advice. The median projected income replacement among participants in its study was 64%. In other words, Americans are on track to replace 64% of their current income in retirement. However, Empower found a wide gap between those who have “habits of success” and those who don’t.Read more >
2022 Recordkeeping Survey
IRS Updates Life Expectancy Tables for Retirees
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
Products, Deals and People
Retirement Industry People Moves
Conduent Sells Global HR Consulting and Actuarial Business; Mercer Promotes Former Global Client Manager; Ameritas Announces SVP of Retirement Plans Team; and more.Read more >
New Platform Offers Biblically Responsible Investment Options
Beacon Wealth Consultants has introduced the LightPoint Kingdom(k) retirement plan, a retirement platform that provides outsourced administration, fiduciary protection from liabilities, custom plan design and actively managed Biblically responsible investment (BRI) options.Read more >
Sponsored message from Natixis
Retirement Goals – Aligned with Investor Ideals
71% of Millennials would contribute more to their retirement plan if it advanced social good. The industry’s first ESG-driven target date mutual funds – Natixis Sustainable Future Funds – meet investors’ demands. Goals. Aligned with ideals. 2098541.1.1Read more >
Economic Events

Total nonfarm payroll employment increased by 164,000 in April, and the unemployment rate edged down to 3.9%, according to the Bureau of Labor Statistics. Job gains occurred in professional and business services, manufacturing, health care, and mining.


THE ECONOMIC WEEK AHEAD: Wednesday, the Bureau of Labor Statistics (BLS) will reveal the producer price index for April, and the Census Bureau will report about wholesale trade for March. Thursday, the Labor Department will issue its initial claims report, and the BLS will reveal the consumer price index for April.
Market Mirror

Friday, the Dow climbed 332.36 points (1.39%) to 24,262.51, the NASDAQ closed 121.47 points (1.71%) higher at 7,209.62, and the S&P 500 increased 33.69 points (1.28%) to 2,663.42. The Russell 2000 was up 19.05 points (1.23%) at 1,565.60, and the Wilshire 5000 gained 351.57 points (1.29%) to finish at 27,699.07.


The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.946%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 3.121%.


WEEK’S WORTH: For the week ending May 4, the Dow decreased 0.20%, the NASDAQ climbed 1.26%, and the S&P 500 finished 0.24% lower. The Russell 2000 gained 0.60%, and the Wilshire 5000 was down 0.13%.
ERISA Litigation Targets Lowe’s, Aon Hewitt Investment Consultants
Participants in the Lowe’s 401(k) plan have filed an Employee Retirement Income Securities Act (ERISA) complaint against their employer and Aon Hewitt Investment Consultants over alleged imprudent investment decisions.Read more >
Industry Voices
Barry’s Pickings: Keeping Employers in the 401(k) System: Fixing 401(k) Fee Litigation
Michael Barry, president of the Plan Advisory Services Group, delves into fee litigation assumptions—and what is wrong with them.Read more >
Small Talk
ON THIS DATE: In 1789, the first U.S. Presidential Inaugural Ball was held in New York City. In 1800, Congress divided the Northwest Territory into two parts. The western part became the Indiana Territory and the eastern section remained the Northwest Territory. In 1847, the AMA (American Medical Association) was organized in Philadelphia, Pennsylvania. In 1940, Winston Churchill became British Prime Minister. In 1945, Germany signed unconditional surrender ending World War II. It would take effect the next day. In 1946, Tokyo Telecommunications Engineering Corp. was founded. The company was later renamed Sony. In 1954, the United States and the United Kingdom rejected the Soviet Union’s bid to join NATO. In 1975, U.S. President Gerald Ford declared an end to the Vietnam War. In 1984, a $180 million out-of-court settlement was announced in the Agent Orange class-action suit brought by Vietnam veterans who claimed they had suffered injury from exposure to the defoliant while serving in the armed forces. In 1992, a 203-year-old proposed constitutional amendment barring the U.S. Congress from giving itself a midterm pay raise was ratified as the 27th Amendment. In 1998, Leeza Gibbons received a star on the Hollywood Walk of Fame.
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Editorial: Alison Cooke Mintzer


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