Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
November 11th, 2015
Benefits & Administration
Retirement-Challenged Millennials Need Education
Nearly one in five U.S. Millennials surveyed by BNY Mellon say they receive no financial information from their workplace or educational establishment, and nearly half admit to relying on a blind guess to estimate what they’ll need for a retirement fund. The global survey, “Generation Lost: Engaging Millennials with Retirement Saving,” finds about one-fifth (19%) of Millennials in the U.S. do not receive any information about financial matters through their workplace or educational establishment, compared with 46% of Millennials from all respondents in other countries.Read more >
ERISA Lawsuit Against O’Reilly Automotive Dismissed
Employers Plan to Cut Back on Benefits Amid Recession Fears
Deals and People
Smart Bolsters Tech Solutions With Acquisition of ProManage
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 >

Editorial: Alison Cooke Mintzer


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