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| Products, Deals and People | |
| The new Actuaries Longevity Illustrator released by the Society of Actuaries (SOA) and the American Academy of Actuaries is billed as an easy-to-use online tool that calculates longevity risk on an individual basis and according to a variety of scenarios.Read more > | |
| Retirement Industry People Moves | |
| Wells Fargo Announces Leader of Participant Services; Ascensus Appoints Retirement COO; UBS Hires Head of Institutional Client Relationship Management.Read more > | |
| Economic Events | |
Total nonfarm payroll employment increased by 160,000 in April, and the unemployment rate was unchanged at 5%, according to the Bureau of Labor Statistics. Employment increased in professional and business services, health care, and financial activities. Job losses continued in mining. THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about wholesale inventories for March. Thursday, the Labor Department will issue its initial claims report. Friday, the Bureau of Labor Statistics will reveal the producer price index (PPI) for April, and the Census Bureau will report about retail sales for April and business inventories for March. | |
| Market Mirror | |
Friday, the Dow climbed 79.92 points (0.45%) to 17,740.63, the NASDAQ closed 19.06 points (0.40%) higher at 4,736.16, and the S&P 500 increased 6.58 points (0.32%) to 2,057.21. The Russell 2000 was up 6.77 points (0.61%) at 1,114.71, and the Wilshire 5000 gained 78.43 points (0.37%) to finish at 21,258.08. On the NYSE, 3.1 billion shares traded, with 1.8 advancing issues for every declining issue. On the NASDAQ, 2.7 billion shares changed hands, with a slight lead for advancers. The price of the 10-year Treasury note was down 10/32, increasing its yield to 1.779%. The price of the 30-year Treasury bond decreased 18/32, bringing its yield up to 2.628%. WEEK’S WORTH: For the week ending May 6, the Dow was down 0.19%, the NASDAQ lost 0.82%, and the S&P 500 decreased 0.39%. The Russell 2000 fell 1.43%, and the Wilshire 5000 finished 0.56% lower. | |
| Compliance | |
| Fiduciary Rule Considerations for Plan Sponsors | |
| Some actions were made clear by the rule, but there are still grey areas.Read more > | |
| From the Magazine | |
| DC Plan Design: Creating Distribution Options | |
| Participants in 401(k) plans have to solve the so-called “retirement income puzzle”: They need to figure out how to turn the assets they have accumulated in their 401(k) account into an income stream, post-employment. Plan sponsors have a range of plan design options they can choose from to help participants create retirement income.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1825, the Chatham Theatre opened in New York City. It was the first gas-lit theater in America. In 1926, Americans Richard Byrd and Floyd Bennett became the first men to fly an airplane over the North Pole. In 1955, West Germany joined NATO. In 1994, Nelson Mandela was chosen to be South Africa’s first black president. | |
| SURVEY SAYS REWIND: Since there was no SURVEY SAYS last week, and yesterday was Mother’s Day, I decided to revisit results from a survey in 2012 in which I asked readers to share words of wisdom they received from their mothers.Read more > | |
| Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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