Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
November 11th, 2016
Benefits & Administration
Robo-Advisers Create Challenges for Plan Fiduciaries
While robo-advice is viewed by many as a major source of opportunity, it also presents plan fiduciaries with major challenges, such as choosing an appropriate robo-adviser that can comply with the pending Department of Labor (DOL)’s Conflict of Interest rule, which extends fiduciary responsibility to virtually anyone offering advice in a retirement plan. But can robots serve effectively as fiduciaries? Some industry experts believe so, while others aren’t as sure.Read more >
Industry Voices
Barry’s Pickings Online: Post-Election Thoughts
Michael Barry, president of the Plan Advisory Services Group, has three big questions about what Trump administration changes could mean for retirement plans.Read more >
IRS Notice Defines Retirement Plan Tax Distribution Exceptions
ERISA Advisory Council Explores Annuity Default Options in DC Plans
Legislation to Overturn Fiduciary Rule Advances Through House Committee
Products, Deals and People
ForUsAll Offers Safe Harbor 401(k) Resource Center
ForUsAll, a 401(k) adviser for small- and mid-sized businesses, has launched the Safe Harbor Plan Resource Center to help employers understand the ins and outs of safe harbor 401(k) plans. Available for free, employers will find a “Safe Harbor 101” handbook that explains when a safe harbor 401(k) is needed and how they function, as well as a Safe Harbor Cost Calculator to help estimate costs of implementing this typically costly plan.Read more >
PlanPILOT to Offer Digital RFP Experience to Plan Sponsors
PlanPILOT, a retirement consulting firm based in Chicago, announced a new corporate license to InHub, creator of eRFP—a web-based technology to digitize the request for proposals (RFP) process for the institutional consulting community.Read more >
Economic Events

In the week ending November 5, the advance figure for seasonally adjusted initial claims for unemployment insurance was 254,000, a decrease of 11,000 from the previous week’s unrevised level of 265,000, the Labor Department reported. The four-week moving average was 259,750, an increase of 1,750 from the previous week’s revised average of 258,000. 

The average interest rate for a 30-year fixed-rate mortgage is 3.57%, up from 3.54% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.88%, up from 2.84%.
Market Mirror

Thursday, the Dow gained 218.25 points (1.17%) to finish at 18,807.94, the NASDAQ fell 42.28 points (0.81%) to 5,208.80, and the S&P 500 was up 4.22 points (0.20%) at 2,167.48. The Russell 2000 climbed 19.44 points (1.58%) to 1,251.60, and the Wilshire 5000 closed 52.98 points (0.24%) higher at 22,498.10.

On the NYSE, 3.1 billion shares traded, with a slight lead for decliners. On the NASDAQ, 2.9 billion shares changed hands, with 3 advancing issues for every 2 declining issues.

The price of the 10-year Treasury note decreased 21/32, bringing its yield up to 2.138%. The price of the 30-year Treasury bond fell 1 28/32, increasing its yield to 2.949%.
PLANSPONSOR is taking its popular PLANSPONSOR National Conference (PSNC) on the road to bring plan sponsors and retirement plan advisers in three major locations a sampling of the in-depth and insightful information provided at our national conference in June. In a half-day format, you’ll drill down into the latest industry trends and best practices concerning investments and participant communication and education; you’ll hear, too, from experts on the compliance front about the final fiduciary rule and the latest about all participant class action litigation. Join us in San Francisco, Chicago or New York in November and December!Read more >
IRS Answers Questions About 403(b) Universal Availability Rules
In a follow-up webinar about 403(b) universal availability rules, Internal Revenue Service (IRS) agents answered questions presented by 403(b) practitioners. IRS agents discussed student exclusions, the less-than-20-hours-per-week exclusion, eligibility for employer contributions and the once-in-always-in rule.Read more >
Small Talk

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 near 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. This day became recognized as Veteran’s Day in the United States. 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 1972, the U.S. Army turned over its base at Long Bihn to the South Vietnamese army. The event symbolized the end of direct involvement in the Vietnam War by the U.S. military. In 1986, Sperry Rand and Burroughs merged to form “Unisys,” becoming the second largest computer company.


And now it’s time for FRIDAY FILES!
Very good daddy-daughter wedding dance.Read more >
On eBay, a man is trying to sell an odd-looking Cheeto in an effort to finance his honeymoon. The man claims the Cheeto looks like a bald eagle sitting on a perch and is asking $5,000. Would you buy it? [pic]Read more >

In Bad Muenstereifel, Germany, a man lost his wedding ring three years ago, while gardening. Picking carrots in his garden this year, he was surprised to find the wedding band wrapped around a carrot, the Associated Press reports.

In Mexico City, Mexico, several guests stayed in a room at Hotel El Senador before anyone noticed something was terribly wrong. After a guest left, the cleaning crew noticed a foul smell and lifted up the bed to find a female wrapped in plastic. According to the UK’s Daily Mail, police believe the body had been there for at least a week.

In Oceanside, California, official figures show that Oceanside City Treasurer Gary Ernst was re-elected Tuesday. The problem with this—he passed away in September. According to the Associated Press, the City Council can declare the seat vacant and decide to appoint someone to fill out the term or call a special election.

In Westerly, Rhode Island, a woman upset over the election of Donald Trump said she woke up and needed a hug and figured others did too. So, she headed downtown with a sign on her that read, “Need a hug today? They are free. Just ask,” and gave out hugs to people all day.

Have a great weekend!
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 >

Editorial: Alison Cooke Mintzer


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