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PLANSPONSOR NEWSDASH LOGO November 18th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
From the Magazine
Yes, They Can Save, but …
As I was commenting on the value of now having [sidecar savings account] options more available through employer sponsorship and via payroll deferral, I received pushback. The pushback was mainly: Shouldn’t we be telling plan sponsors how they can educate plan participants about the importance of emergency savings accounts, about how they should open one outside of work and how much they should save in it—instead of adding another employee benefit requirement?
Deals and People
Retirement Industry People Moves
Gallagher promotes consultant to retirement plan leader; Hall Benefits Law adds ERISA attorney to compliance counsel; and Prudential Retirement announces new customer solutions head.
Most Read
Compliance
IRS Announces 2020 Contribution and Benefit Limits
Administration
Plan Sponsors Have Multiple Options for Creating Income Streams for Participants
Benefits
Social Security Administration Announced COLA for 2020
Products
Year-End Planning Help Offered for NQDC and Executive Comp Plan Participants
myStockOptions.com has updated its Year-End Planning section for what's different after tax reform.
Economic Events
The combined value of distributive trade sales and manufacturers’ shipments for September, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,459.4 billion, down 0.2% from August, but up 0.5% from September 2018, the Census Bureau reported. Advance estimates of U.S. retail and food services sales for October, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $526.5 billion, an increase of 0.3% from the previous month, and 3.1% above October 2018. Total sales for the August through October period were up 3.8% from the same period a year ago. Retail trade sales were up 0.3% from September, and 2.9% above last year. Nonstore retailers were up14.3% from October 2018, and gasoline stations were down 5.0% from last year.

ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about housing starts for October. Thursday, the Labor Department will release its initial claims report, and the National Association of Realtors will report about existing home sales in October.
Market Mirror
Friday, the Dow climbed 222.93 points (0.80%) to 28,004.89, the NASDAQ increased 61.81 points (0.73%) to 8,540.83, and the S&P 500 gained 23.83 points (0.77%) to finish at 3,120.46. The Russell 2000 was up 7.66 points (0.48%) at 1,596.45, and the Wilshire 5000 closed 231.12 points (0.73%) higher at 31,751.88.

The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.832%. The price of the 30-year Treasury bond was little changed, with its yield at 2.305%.

WEEK’S WORTH: For the week ended November 15, the Dow rose 1.17%, the S&P 500 was up 0.89%, and the NASDAQ gained 0.77%. The Russell 2000 ticked downward by 0.15%, and the Wilshire 5000 was up 0.78%.
SPONSORED BY: BlackRock
Income reimagined: Building income solutions into default options
62% of DC participants worry about retirement income. Then why do so few take advantage of guaranteed solutions? It may be that offering a solution is only the first step. Our latest paper explores how plan sponsors may need to use behavioral finance, plan design and default options to reframe how participants think about retirement income.
Compliance
Mediation May Resolve SunTrust Bank ERISA Challenge
The parties have requested that the district court stay all proceedings and deadlines pending the outcome of a mutually agreed upon mediation process.
Small Talk
ON THIS DATE: In 1865, Samuel L. Clemens published “The Celebrated Jumping Frog of Calaveras County” under the pen name “Mark Twain” in the New York “Saturday Press.” In 1883, the U.S. and Canada adopted a system of standard time zones. In 1903, the U.S. and Panama signed a treaty that granted the U.S. rights to build the Panama Canal. In 1928, the first successful sound-synchronized animated cartoon premiered in New York. It was Walt Disney’s “Steamboat Willie,” starring Mickey Mouse. In 1966, U.S. Roman Catholic bishops did away with the rule against eating meat on Fridays. In 1987, Congress issued the Iran-Contra Affair report. The report said that President Ronald Reagan bore “ultimate responsibility” for wrongdoing by his aides. In 1991, Shiite Muslim kidnappers in Lebanon free Anglican Church envoy Terry Waite and American educator Thomas M. Sutherland after intense negotiations by the United Nations. In 1993, representatives from 21 South African political parties approved a new constitution.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “What do you think of workplace holiday parties?” I also asked, “Is there something else you’d rather your employer do instead?”Nearly six in 10 responding (57.9%) readers said their company hosts a holiday party every year. More than one-third indicated they feel holiday parties are a somewhat of a reward and morale booster, while 10.5% said they definitely are, and 21% said they are not. Asked what they would rather their employer do for the holidays, other than a holiday party, 43.2% chose “give employees bonuses,” while 32.4% selected “give an extra day off.” Only 5.4% said give employees gifts, and 8.1% said they’d rather their company host an employee gift exchange. In verbatim comments, a few responding readers shared what their company does for its holiday party; several expressed how much they enjoy it. Others said the socializing is awkward for them, or warned about how certain behavior can get out of hand. There’s no Editor’s Choice this week. A big thank you to all who participated in our survey!
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