Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 8th, 2019
Benefits & Administration
Retirement Confidence Up, But Concerns Remain
While retirement confidence ticked up for workers in the 2019 Retirement Confidence Survey, many are still concerned about debt and health care expenses and are not financially prepared. Read more >
Financial Wellness a Key to Retirement Preparedness
A multi-year study found employees who regularly engaged with their employer’s financial wellness program more than doubled their feeling of retirement preparedness. Read more >
MOST READ ARTICLES
1
AT&T Sued Over Calculation of Early Retirement Benefits
2
Congressional Leaders Want SECURE Act Passage in 2019
3
New Lawsuit Highlights Importance of Cybersecurity for Retirement Plans
4
IRS Releases 2019-2020 Priority Guidance Plan
5
DC Plans 3.0 Will Really be Tailored to Individual Situations
Products, Deals and People
Unified Trust Creates 401(k) Rollover Education Platform
Current Unified Trust plan participants can see their rollover options, as well as a breakdown of benefits, fees, and service models. Read more >
Market Mirror

Tuesday, the Dow closed 473.39 points (1.79%) lower at 25,965.09, the NASDAQ lost 159.53 points (1.96%) to finish at 7,963.76, and the S&P 500 was down 48.42 points (1.65%) at 2,884.05. The Russell 2000 fell 32.66 points (2.02%) to 1,582.31, and the Wilshire 5000 decreased 506.55 points (1.67%) to 29,837.14.

The price of the 10-year Treasury note was up 9/32, decreasing its yield to 2.454%. The price of the 30-year Treasury bond increased 22/32, bringing its yield down to 2.865%.

Ask the Experts
Early Distribution Penalties for Pre-Tax and Roth Accounts
“I am 57 years old and I just terminated employment with my employer who sponsors a 403(b) plan. My recordkeeper told me that I can withdraw my pre-tax assets and pay ordinary income taxes and that there would be a waiver of the 10% premature distribution penalty since I terminated employment after the calendar year in which I turned age 55. However, the recordkeeper also said to me that I could not withdraw my Roth account tax-free until age 59 1/2 (I have already owned the Roth account for the required five tax years). Is my recordkeeper correct?” Read more >
Industry Voices
Focus on Procedure Can Help Protect Against Fiduciary Errors
Neal J. Shikes, The Trusted Fiduciary, and Andrew L. Oringer, Dechert LLP, discuss how establishing and documenting prudent methodologies to make all major decisions—i.e., showing a focus on only the economic interests of the plan participants—can be a key to how one carries out fiduciary duties. Read more >
Small Talk
More than two-thirds of employees polled said noise negatively impacts their concentration levels, productivity and creativity, and the top noise distraction cited by survey respondents was conversations among employees. Read more >

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 1846, the first major battle of the Mexican War was fought. The battle occurred in Palo Alto, Texas. In 1847, the rubber tire was patented by Robert W. Thompson. In 1879, George Selden applied for the first automobile patent. 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 1958, President Eisenhower ordered the National Guard out of Little Rock as Ernest Green became the first black to graduate from an Arkansas public school. 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 1997, Larry King received a star on the Hollywood Walk of Fame. In 1999, the first female cadet graduated from The Citadel military college.

 

WEDNESDAY WISDOM: “Common sense is not so common.”—Voltaire, French writer, historian and philosopher

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

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