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| From the Magazine | |
| Just out of Reish: Investment Advice | |
| Most 401(k) and 403(b) plans hire consultants for advice about what investments to offer their participants. That helps with the selection of the funds, but it also creates a fiduciary duty to prudently select and monitor the consultant. But how do plan sponsors and their committees know whether they receive good investment advice?Read more > | |
| Products, Deals & People | |
| Gina Gurgiolo has joined Mercer’s defined contribution (DC) advisers specialty practice. Gurgiolo provides operational and investment advisory services to DC plan clients in Chicago and throughout the Midwest.Read more > | |
| The retirement plans division of Ameritas Life Insurance Corp. expanded the investment options available within its retirement plans products by adding 32 new funds. The expansion brings the total offering to more than 235 funds within the Ameritas retirement plans program, the firm says.Read more > | |
| Patrick Coughlin is joining Buck Consultants at Xerox as principal and retirement consultant in the firm’s wealth practice. Coughlin is part of the national team providing consulting services and solutions that address clients’ defined contribution (DC) retirement plan objectives. His duties include advising organizations about strategies to meet the retirement income needs of employees, as well as helping to grow the firm’s defined contribution consulting practice throughout the country.Read more > | |
| In an effort to streamline communications and further enhance existing security measures, TriStar Pension Consulting has implemented Plan Sponsor Link’s new secure Web portal. Breanne Mollman, marketing director for TriStar, says the new software allows clients to have immediate and ongoing access to their plan-related data, legal plan documents, administrative forms, required notices and compliance reports.Read more > | |
| Market Mirror | |
Yesterday, the Dow ticked up 7.84 points (0.04%) to 17,817.90, the NASDAQ climbed 41.92 points (0.89%) to 4,754.89, and the S&P 500 closed 5.96 points (0.29%) higher at 2,069.46. The Russell 2000 gained 14.53 points (1.24%) to finish at 1,186.95, and the Wilshire 5000 increased 82.85 points (0.38%) to 21,778.99.
On the NYSE, 3.2 billion shares changed hands, with 1.5 advancing issues for every declining issue. On the NASDAQ, 2.8 billion shares traded, with a more than 2 to 1 lead for advancers.
The price of the 10-year Treasury note and 30-year Treasury bond both increased 2/32, decreasing their yields to 2.302% and 3.015%, respectively. | |
| Compliance | |
| PBGC Publishes Final Rule About DC to DB Rollovers | |
| The Pension Benefit Guaranty Corp. (PBGC) is publishing a final rule for transferring defined contribution (DC) plan accounts into a defined benefit (DB) plan. The agency says it hopes to encourage people to get lifetime income by removing potential barriers to moving their benefits from DC plans to DB plans. The final rule, slated for publication in the Federal Register November 25, removes the fear that the amounts rolled over would suffer under guarantee limits should PBGC step in and pay benefits.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1850, Texas relinquished one-third of its territory in exchange for $10 million from the United States, to pay its public debts and settle border disputes. In 1867, Alfred Nobel patented dynamite. In 1884, J.B. Meyenberg received the patent for evaporated milk. In 1950, the so-called “storm of the century” hit the eastern part of the United States, killing hundreds and causing millions of dollars in damages. Also known as the “Appalachian Storm,” it dumped record amounts of snow in parts of the Appalachian Mountains. In 1955, in the U.S., the Interstate Commerce Commission banned racial segregation on interstate trains and buses. In 1957, U.S. President Dwight D. Eisenhower suffered a stroke. In 1963, three days after his assassination in Dallas, Texas, John F. Kennedy was laid to rest with full military honors at Arlington National Cemetery in Virginia. In 1980, Sugar Ray Leonard regained boxing’s welterweight title when his opponent, reigning champ Roberto Duran, waved his arms and walked away from the fight in the eighth round. In 1986, U.S. President Reagan and Attorney General Edwin Meese revealed that profits from secret arms sales to Iran had been diverted to rebels in Nicaragua. National Security Advisor John Poindexter resigned and Oliver North was fired. | |
| TUESDAY TRIVIA: According to the Library of Congress, in 1784, Benjamin Franklin said he wished the bald eagle had not been chosen as representative of the America because “he is a bird of bad moral character …” Franklin suggested, “[T]he turkey is in comparison a much more respectable bird, and withal a true original native of America.” | |
| TRIVIAL PURSUITS: When did the presidential turkey pardon tradition begin?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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Copyright © Asset International, Inc., 2014. All rights reserved. No reproduction without prior authorization. |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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