Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
November 21st, 2016
Benefits & Administration
The Certified Financial Planner (CFP) Board of Standards surveyed American savers and found that those who have taken a slow and steady approach to saving throughout their lifetime are in the best position when it comes to retirement. Eighty-eight percent of them save each and every month. On average, they began saving at age 25, and they value outside financial expertise.Read more >
Future of ACA Mandate Top Concern for Employers
Out of 800 employers surveyed by Aon Hewitt, nearly half (48%) cited the employer mandate in the ACA as the top health care concern following the election. “Not surprisingly, there is heightened interest in the fate of the employer mandate, which currently places significant reporting obligations on employers,” explains J.D. Piro, national practice leader of Aon’s Health and Benefits Legal practice. “But it’s important to realize that in the short term, these mandates—and the Affordable Care Act (ACA) reporting obligations and penalties—remain in effect.”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
State Street Global Advisors (SSGA) has launched a financial wellness tool called Retirement Navigator, which provides users with insights into three things they can do to support their future success and live comfortably in retirement.Read more >
Retirement Industry People Moves
Ascensus acquires Retirement Educators; LGIMA expands U.S. Active Fixed Income team; MassMutual hires Taft-Hartley relationship manager; and more.Read more >
Economic Events
THE ECONOMIC WEEK AHEAD: Tomorrow, the National Association of Realtors will report about existing home sales in October. Wednesday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders for October and new home sales for October.
Market Mirror

Friday, the Dow lost 35.89 points (0.19%) to finish at 18,867.93, the NASDAQ decreased 12.46 points (0.23%) to 5,321.51, and the S&P 500 was down 5.22 points (0.24%) at 2,181.90. The Russell 2000 was up 6.16 points (0.47%) at 1,315.64, and the Wilshire 5000 closed 34.34 points (0.15%) lower at 22,805.93.

On the NYSE, 3.1 billion shares traded, with a slight lead for declining issues. On the NASDAQ, 2.9 billion shares changed hands, with a slight lead for advancers.

The price of the 10-year Treasury bond decreased 10/32, bringing its yield up to 2.341%. The price of the 30-year Treasury bond was down 3/32, increasing its yield to 3.017%.

WEEK’S WORTH: For the week ending November 18, the Dow was up 0.11%, the NASDAQ gained 1.61%, and the S&P 500 increased 0.81%. The Russell 2000 climbed 2.59%, and the Wilshire 5000 finished 1.21% higher.
Court Holds Hearing on Chamber Fiduciary Rule Lawsuit
The U.S. District Court for the Northern District of Texas, in Dallas, held a hearing Thursday on the lawsuit that the U.S. Chamber of Commerce and eight other groups filed against the Department of Labor’s (DOL’s) new fiduciary rule. The first 45 minutes concentrated on the Chamber of Commerce’s argument that the new rule will make it difficult for advisers to provide holistic advice to investors, says Erin Sweeney, counsel at Miller and Chevalier, who attended the hearing.Read more >
IRS to Hold Webcast About EPCRS Changes
The Internal Revenue Service (IRS) is hosting a free webcast about the changes to the Employee Plans Compliance Resolution System (EPCRS). Attendees will learn about changes set forth in IRS Revenue Procedure 2016-51.Read more >
From the Magazine
Getting to a Better Place
Plan sponsors have more ability to renegotiate their recordkeeping deal than they may think. When sponsors have hard data showing that their plan pays higher fees or gets fewer services than the current market norm, recordkeepers generally will do what it takes to keep the client, says Todd Hughes, director, ERISA [Employee Retirement Income Security Act] and vendor services, at Pension Consultants Inc. “[For recordkeepers,] there is a price to get a plan, and there is a price to keep a plan. And there’s a gap between the two.”Read more >
Small Talk
ON THIS DATE: In 1620, the Mayflower reached Provincetown, Massachusetts. The ship discharged the Pilgrims at Plymouth, Massachusetts, on December 26, 1620. In 1789, North Carolina became the 12th state to ratify the U.S. Constitution. In 1877, Thomas A. Edison announced the invention of his phonograph. In 1922, Rebecca L. Felton of Georgia was sworn in as the first woman to serve as a member of the U.S. Senate. In 1962, U.S. President John F. Kennedy terminated the quarantine measures against Cuba. In 1980, an estimated 83 million viewers tuned in to find out “who shot J.R.” on the CBS prime-time soap opera Dallas. In 1993, the U.S. House of Representatives voted against making the District of Columbia the 51st state. In 2000, the Florida Supreme Court granted Al Gore’s request to keep the presidential recounts going. In 2001, Microsoft Corp. proposed giving $1 billion in computers, software, training and cash to more than 12,500 of the poorest schools in the U.S. The offer was intended as part of a deal to settle most of the company’s private antitrust lawsuits.
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “How many hours would you add to the 24-hour day to get everything you want or need to get done, and how would you spend those hours?” Slightly more than 18% of responding readers said they needed 6 hours, while 16.4% said they needed none. Three hours was chosen by 16.4% of respondents; 14.5% selected 2; and 12.7% chose 4. Nine percent said they needed 5 extra hours, 7.3% need more than 6 and 5.4% just need 1. Sleep was the activity for spending that extra time chosen by the majority (63.5%) of respondents, followed by spending time with family (36.5%) and reading and household chores (both tied at 30.8%). Among readers who left comments, quite a few said it is not an issue of needing more time in the day, but prioritizing what deserves or needs to be spent doing. Other readers suggested adding more time just wouldn’t work because others would just demand more, or as one reader said, “It is just like a raise, the more you have the more you spend, so I don’t think extra hours would work!” I have to give a shout out to the reader who said: “Tell my boss I need more time to read PLANSPONSOR and all the useful news!” Editor’s Choice goes to the reader who said: “Gee, if I didn’t have to work, the length of the day would be just perfect.” Thanks to all who participated in the survey!Read more >
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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