| Underestimating Creates Need to Change Plan for Retirement | The American Institute of Certified Public
Accountants (AICPA) Personal Financial Planning (PFP) Trends Survey reveals
factors that lead individuals to have to change their plan for retirement.Read more > | Research Finds Retirement Planning Calculators Lacking | Retirement savings based on income replacement
ratio (IRR)-based calculators risk falling short of meeting retirees’ goals
because IRRs significantly underestimate future retirement health care costs,
says a HealthView Services white paper. The paper, “Retirement Health Care
Costs and Income Replacement Ratios,” highlights assumptions built into IRRs,
reveals the shortfall in retirement health care savings when using IRR-based
calculators and the additional savings required to close this gap.Read more > | Americans Misjudge Savings Needed for Retirement | Americans have some wrong ideas about how much
they need to save for retirement, according to a survey conducted by Morning
Consult and released by the Financial Services Roundtable (FSR). However, they
get a better understanding as they age.Read more > | | Sponsored message from Wells Fargo | PLANSPONSOR interviews Joe Ready Stephen Moylan interviews Joe Ready, EVP at Wells Fargo Institutional Retirement and Trust. Ready discusses the evolution of 401(k) plans and the future of retirement planning.Read more > | | Economic Events | The U.S. Census Bureau announced that September sales
of merchant wholesalers, except manufacturers’ sales branches and offices,
after adjustment for seasonal variations and trading-day differences but not
for price changes, were $448 billion, up 0.5% from the revised August level,
but down 3.9% from the September 2014 level. September sales of durable goods
were up 0.7% from last month, but were down 0.8% from a year ago. Sales of
computer and computer peripheral equipment and software were up 3.8% from last
month, and sales of electrical and electronic goods were up 2.8%. Sales of
nondurable goods were up 0.3% from August, but were down 6.7% from last
September. Sales of drugs and druggists’ sundries were up 1.7% from last month,
while sales of petroleum and petroleum products were down 4.6%. | | Market Mirror | Yesterday,
the Dow increased 27.73 points (0.16%) to 17,758.21, the NASDAQ was down 12.06
points (0.24%) at 5,083.24, and the S&P 500 was up 1.59 points (0.08%) at
2,080.17. The Russell 2000 gained 3.26 points (0.28%) to finish at 1,187.69,
and the Wilshire 5000 closed 33.59 points (0.16%) higher at 21,678.63.
On the NYSE,
3.2 billion shares traded, with 1.3 advancing issues for every declining issue.
On the NASDAQ, 2.7 billion shares changed hands, with a slight lead for
decliners.
The price of the 10-year Treasury note increased 3/32,
bringing its yield down to 2.336%. The price of the 30-year Treasury bond was
up 2/32, decreasing its yield to 3.107%.
| | Ask the Experts | Ask the Experts – Employee Concerns About Eliminating 15-Year Catch-Up | “As discussed in your recent Ask the Experts columns
‘Can the 15-year Catch-up be Phased Out?’ and ‘Should the 15-year Catch-up be
Eliminated?’ we have decided to eliminate the 15-year catch-up election from
our 403(b) plan, effective 1/1/2016. However, we have received some resistance from
employees, even though very few employees actually utilize the election! Can
the Experts make some suggestions as to how to address employee concerns?”Read more > | | Small Talk | Many workers aren’t above taking a sick day
despite having a clean bill of health, according to a CareerBuilder’s annual
survey. Thirty-eight percent of employees have called in to work sick when
they’re feeling well in the past year, up from 28% last year. Of the employees
who have called in sick when feeling well, 27% said they had a doctor’s
appointment, the same proportion said they just didn’t feel like going, 26%
said they needed to relax, 21% said they needed to catch up on sleep and 12%
blamed bad weather. The survey reveals memorable excuses employers have heard for
workplace absences.Read more > | ON
THIS DATE: In 1620,
the Mayflower Compact was signed by the 41 men on the Mayflower when they landed in what is now Provincetown Harbor at
the tip of Cape Cod. The compact called for “just and equal laws.” In
1831, Nat Turner, a slave and
educated minister, was hanged in Jerusalem, Virginia, after inciting a violent
slave uprising. In 1851, the
telescope was patented by Alvan Clark. In 1889,
Washington became the 42nd state of the United States. In 1918, World War I came to an end when the Allies and Germany signed
an armistice. In 1921, the Tomb of
the Unknowns was dedicated at Arlington Cemetery in Virginia by U.S. President Warren
Harding. In 1940, the Jeep made its
debut. In 1946, the New York
Knickerbockers (now the Knicks) played their first game at Madison Square
Garden. In 1952, the first video
recorder was demonstrated by John Mullin and Wayne Johnson in Beverly Hills, California.
In 1993, in Washington, D.C., the
Vietnam Women’s Memorial was dedicated to honor the more than 11,000 women who
had served in the Vietnam War.
WEDNESDAY
WISDOM: “The
willingness of America’s veterans to sacrifice for our country has earned them
our lasting gratitude.”—U.S. Representative Jeff Miller (R-Florida)
PLANSPONSOR thanks all veterans for your service! | Share the good news with a friend! Pass the Dash along – and tell your
friends/associates they can sign up for their own copy.Read more > |
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