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| NFP, a broker and consultant, announced the expansion of NFP Marketplace, its private exchange for workplace health care benefits. Through new partnerships with GetInsured and HealthPlanOne, NFP Marketplace enables employers to offer affordable health insurance options to retirees, COBRA-eligible individuals, and employees who do not qualify for sponsored plans.Read more > | |
| Industry Voices | |
| Industry Voices: Why the Correct Compensation Matters | |
| We’ve all been in a “don’t shoot the messenger” situation where you have to be the bearer of bad news even if you did nothing to cause the problem. That’s precisely the situation that our client, Nancy, found herself in when she took over as director of Human Resources and Employee Benefits at a prominent local company. We sat across from her at her new stately desk as she explained how her predecessor failed to check a box in the payroll system that withheld employee elective 401(k) deferrals from bonuses and how that little unchecked box was going to potentially cost her new boss big bucks. Now, Nancy found herself in the unenviable position of explaining how this happened in the first place.Read more > | |
| Economic Events | |
| The Conference Board Consumer Confidence Index, which had rebounded in October, declined in November. The Index now stands at 88.7 (1985=100), down from 94.1 in October. The Present Situation Index declined from 94.4 to 91.3, while the Expectations Index decreased sharply to 87.0 from 93.8 in October. | |
| Market Mirror | |
Tuesday, the Dow slipped 2.96 points (0.02%) to 17,814.94, the NASDAQ ticked up 3.36 points (0.07%) to 4758.25, and the S&P 500 closed 2.38 points (0.12%) lower at 2,067.03. The Russell 2000 decreased by 0.61 (0.05%) to 1,186.33, and the Wilshire 5000 was down 17.87 points (0.08%) at 21,761.12. On the NYSE, 3.2 billion shares traded, with advancing issues outnumbering declining issues. On the NASDAQ, 2.8 billion shares changed hands, with a slight lead for decliners. The price of the 10-year Treasury note was up 15/32, with its yield down to 2.255%. The price of the 30-year Treasury bond increased 1 5/32, decreasing its yield to 2.961%. | |
| Compliance | |
| IRS Amends Safe Harbor Rollover Explanations | |
| The Internal Revenue Service (IRS) has amended the two safe harbor explanations that can be used to satisfy the requirement that certain information be provided to recipients of eligible retirement plan rollover distributions. The amendments and model notices are issued following the IRS’ new guidance for allocating pre-tax and after-tax amounts among distributions that are made to multiple destinations from a qualified plan. They also address in-plan Roth rollovers.Read more > | |
| From the Magazine | |
| A Message from Our Editor-in-Chief | |
| Thanksgiving has always been near and dear to me because it revolves around two of my favorite things: family and food. Also, it isn’t a day to get more “stuff,” but instead encourages us to take the time to appreciate what we already have. With that in mind, I thought this issue would be an appropriate time to share one of my family’s nightly traditions and describe what I am grateful for—here, in the retirement plan industry.Read more > | |
| Small Talk | |
ON THIS DATE: In 1922, in Egypt’s Valley of the Kings, British archaeologists Howard Carter and Lord Carnarvon became the first souls to enter King Tutankhamen’s tomb in more than 3,000 years. In 1941, President Franklin D. Roosevelt signed a bill officially establishing the fourth Thursday in November as Thanksgiving Day. In 1942, “Casablanca,” a World War II-era dramatic film starring Humphrey Bogart and Ingrid Bergman, premiered in New York City.
WEDNESDAY WISDOM: “Reflect upon your present blessings, of which every man has plenty; not on your past misfortunes, of which all men have some.”—Charles Dickens, novelist We wish everyone a very happy Thanksgiving! We are off Friday, so NewsDash will be back in your inbox Monday morning. | |
| 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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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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