| | A Plan Sponsor Boosts Employee Retirement Confidence | | It has always been important to Roy Richter,
deputy inspector of the New York City Police Department (NYPD) and president of
the Captains Endowment Association—who also serves as trustee for the Senior
Officers Council (SOC) Annuity Trust Fund to educate plan members about the
value of their financial health and how to use all of the retirement plans
offered by the city to achieve financial security and to, ultimately, retire
well. About three years ago, Richter realized that those enrolled in the New
York City governmental plan were unaware of how much they had available in the
plan or how much retirement would require. Many were in a position of being
able to retire but did not know that.Read more > | | | Market Mirror | U.S. stock
indices closed lower Wednesday, dragged down by weakness in retailers and
energy companies, according to the Associated Press. The Dow closed 55.99
points (0.32%) lower at 17,702.22, the NASDAQ decreased 16.22 points (0.32%) to
5,067.02, and the S&P 500 was down 6.05 points (0.29%) at 2,075.67. The
Russell 2000 lost 9.62 points (0.81%) to finish at 1,178.07, and the Wilshire
5000 fell 91.95 points (0.42%) to 21,586.68.
On the NYSE,
3.2 billion shares changed hands, with 1.3 declining issues for every advancing
issue. On the NASDAQ, 2.7 billion shares traded, with a 1.8 to 1 ratio of
decliners to advancers.
The bond markets were closed for Veterans Day.
| | | Compliance | | Novant Health Agrees to Settle Excessive Fee Suit | | A settlement agreement has been filed in the
U.S. District Court for the Middle District of North Carolina in a case against
Novant Health over excessive fees and other fiduciary violations in the
administration of its retirement plans. The settlement calls for monetary
relief in the amount of $32 million, as well as non-monetary relief, including
that Novant will adopt a new investment policy statement and conduct a
competitive bidding process for recordkeeping, investment consulting and
participant education services for the plans. However, in a statement of non-opposition filed in
support of the proposed settlement, Novant said it disagrees with the claims.Read more > | | | Small Talk | | ON THIS DATE: In
1859, the first flying trapeze act
was performed by Jules Leotard at Cirque Napoleon in Paris, France. He was also
the designer of the garment that is named after him. In 1892, William “Pudge” Heffelfinger became the first
professional football player when he was paid a $500 bonus for helping the
Allegheny Athletic Association beat the Pittsburgh Athletic Club. In 1915, Theodore W. Richards, of Harvard
University, became the first American to be awarded the Nobel Prize in
chemistry. In 1946, the first drive-up
banking facility opened at the Exchange National Bank in Chicago. In 1954, Ellis Island, the immigration
station in New York Harbor, closed after processing more than 20 million
immigrants since 1892. In 1997,
Ramzi Yousef was found guilty of masterminding the 1993 bombing of the World
Trade Center. In 1998, Daimler-Benz
completed a merger with Chrysler to form Daimler-Chrysler AG. | | SURVEY SAYS: Commuting
from work can range from a few minutes to a few hours, and can include driving,
riding, biking or walking. Whatever your commute is like, you are likely doing
something else during that time. This week, I’d like to know, how do you spend
your time on your commute to work? You may respond to this survey by 6 p.m.
Pacific time today.Read more > | | 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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