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Market Mirror |
Yesterday, the Dow gained 94.81 points (0.39%) to finish at 24,357.32, the NASDAQ closed 55.60 points (0.77%) higher at 7,265.21, and the S&P 500 was up 9.21 points (0.35%) at 2,672.63. The Russell 2000 increased 13.34 points (0.85%) to 1,578.95, and the Wilshire 5000 climbed 116.60 points (0.42%) to 27,815.67. The prices of the 10-year Treasury note and 30-year Treasury bond recorded no changes, with their yields at 2.950% and 3.123%, respectively. |
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Sponsored message from DST Systems |
Best Practices for Addressing Automatic Participant Rollovers Helping plan sponsors save time and money while reconnecting participants with their retirement savings.Read more > |
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Compliance |
The Tax Cuts and Jobs Act and NQDC |
The Tax Cuts and Jobs Act of 2017 included changes to the treatment of executive compensation and nonqualified deferred compensation (NQDC) plans that some said will take away the incentive for employers to sponsor these plans. However, speakers at the Plan Sponsor Council of America (PSCA) 71st Annual National Conference suggested executive compensation plans are still a useful benefit. “Nonqualified deferred compensation plans will always be tax advantageous and a useful benefit,” Bruce J. McNeil, partner with The Wagner Law Group, told conference attendees.Read more > |
DOL Issues Temporary Enforcement Policy Following 5th Circuit Decision on Fiduciary Rule |
The Department of Labor (DOL) noted that some financial institutions have devoted significant resources to comply with the best-interest contract (BIC) Exemption and the Principal Transactions Exemption and may prefer to continue to rely upon the new compliance structures.Read more > |
A Look to Mid-Term Elections and the Effect on Retirement Plans |
Mid-term elections are coming up, and some lawmakers may view this as a time to push retirement plan agenda items through before changes occur in Congress, while the result of the elections could change some of the focus for retirement plan legislation.Read more > |
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Investing |
ICI Data Highlights TDF Price Drops, Other Mutual Fund Savings |
The latest analysis published by the Investment Company Institute (ICI) highlights a trend of falling expense ratios for long-term mutual funds that has now continued for more than 20 years. Expense ratios of target-date mutual funds averaged 0.44% in 2017. Since 2008, ICI explains, the expense ratios of target-date mutual funds have fallen 34%.Read more > |
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Small Talk |
ON THIS DATE: In 1541, Hernando de Soto reached the Mississippi River. He called it Rio de Espiritu Santo. In 1794, the United States Post Office was established. In 1847, the rubber tire was patented by Robert W. Thompson. In 1886, pharmacist Dr. John Styth Pemberton invented what would later be called “Coca-Cola.” In 1914, Congress passed a Joint Resolution that designated the second Sunday in May as Mother’s Day. In 1945, President Harry Truman announced that World War II had ended in Europe. In 1961, New Yorkers selected a new name for their new National League baseball franchise. They chose the Mets. In 1985, “New Coke” was released to the public on the 99th anniversary of Coca-Cola. In 1986, reporters were told that 84,000 people had been evacuated from areas near the Chernobyl nuclear plant in Soviet Ukraine. In 1997, Larry King received a star on the Hollywood Walk of Fame. In 1999, the first female cadet graduated from The Citadel military college. |
TRIVIAL PURSUITS: What is the deepest canyon in the U.S.?Read more > |
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